US-based fintech company Fiserv has launched a new fraud mitigation solution developed to streamline the management of omnichannel risk for large companies.
The new fraud mitigation solution will be accessible through Fiserv’s global commerce platform, Carat.
According to Fiserv, the new modular solution provides merchants with customisable controls based on their risk appetite as well as simplified access to chargeback management, transaction scoring, and other capabilities.
The solution offers a flexible, rules-based fraud prevention engine with control over risk thresholds.
By utilising machine learning, behavioural analytics, and link analysis, it will monitor and score capabilities to stop suspicious transactions.
The solution also features trusted chargeback protections to safeguard against consumer chargeback abuse.
The rules-based engine that drives the fraud mitigation solution is augmented by acquiring, card, network, and issuer data from Fiserv, which enables a horizontal picture across payment activity.
Fiserv stated that these highly differentiated data sets are assimilated by machine learning technologies to enhance decisions and offer optimal outcomes, including enhanced authorisation rates and fewer false declines for e-commerce transactions.
Fiserv merchant fraud vice president and general manager Jason Paguandas said: “As omnichannel fraud becomes more sophisticated, businesses are trying to strike a balance between reducing risk and driving revenue – whether that is by maximizing authorisations, limiting false declines, or preserving consumer trust.
“By providing businesses with a highly configurable and scalable solution, merchants can align fraud controls to their business strategy and easily augment their tech stack without integrating to additional vendors.”
