Fiserv unveils new omnichannel fraud mitigation solution


Fiserv, a global provider of payments and financial technology solutions, has introduced a new fraud mitigation offering.

Accessible through the Carat global commerce platform, the modular solution, Fiserv claims, empowers merchants with controls that can be customised based on a firm’s risk appetite, along with simplified access to transaction scoring, chargeback management and other capabilities.

The modular solution simplifies how companies manage risk through a flexible, rules-based fraud prevention engine, which provides control over thresholds. It also helps to monitor and score capabilities, which can help stop suspicious transactions by leveraging machine learning, industry-leading link analysis and behavioural analytics.

The solution also offers trusted chargeback protections, which helps to safeguard against consumer chargeback abuse.

The rules-based engine powering fraud mitigation is augmented by acquiring, card, network, and issuer data from Fiserv – providing a horizontal viewpoint across payment activity.

These highly differentiated data sets are ingested by machine learning tools to improve decisions and provide optimal outcomes, such as improved authorization rates and a reduction in false declines, for e-commerce transactions.

Fiserv vice president and GM of merchant fraud 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 authorizations, 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.”

Keep up with all the latest FinTech news here.

Last year, Finicity, a Mastercard company, and Fiserv teamed up to boost open finance through secure data sharing.

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