Neovia Financial Selects Actimize for Card and Banking Fraud Prevention
Neovia Financial, an online payments business, has implemented Actimize’s remote banking and card fraud prevention solutions to monitor all transactions between consumers and merchants in real-time.
The Actimize solutions employ real-time, phase-based analytical models to achieve highly efficient detection rates while maintaining throughput performance. The solution uses sophisticated analytics to evaluate transactions for fraud risk, offering a step forward from legacy solutions in real-time scoring accuracy. This approach greatly improves the customer experience by limiting the impact on legitimate cardholders while enabling Neovia to offer superior risk management capabilities to its clients.
“As chip and PIN implementation grows in acceptance and ‘card not present’ transactions increase, we recognise the continuing importance of an enhanced real-time fraud monitoring and prevention solution,” said Mark Healy, head of risk at Neovia. “Our fundamental requirements were to extend our fraud mitigation capabilities and allow for self-administration by both our risk team and our merchants. We believe Actimize has the only proven real-time fraud prevention solution within the marketplace that can cover 100% of our transactions.”