March 8, 2005
TietoEnator enhances card fraud detection capabilities at Latvian BankServiss
TietoEnator has delivered an advanced card fraud detection solution to the leading Latvian processing centre BankServiss.
BankServiss's existing payment card data processing infrastructure has been upgraded to a new level of efficiency. The new solution helps BankServiss to identify card fraud and prevent losses by examining incoming card transactions and authorizations, compiling statistics on fraud as well as elaborating cardholder and merchant behaviour models. In addition, BankServiss's card risk management system is now compliant with Visa EU card authorization monitoring requirements.
Over 20 issuing and acquiring banks and non-banking card issuers and acquirers served by BankServiss benefit from the new solution for card fraud detection.
"The new system enables us to combat fraudulent use of cards more efficiently. Its advantage lies in having facilities to take immediate action to prevent money loss", tells Zanda Brivule, Managing Director, BankServiss.
"Payment card systems are very complicated since many parties from different countries across the world are involved in transactions. This fact entails engagement in corrupt practices among criminals. That's why banks and card processing companies need advanced software tools to conduct proactive fraud detection", says Maris Ozolins, General Manager, TietoEnator Banking Solutions, Cards.
The Visa and MasterCard compliant solution of TietoEnator is in use in over 20 European banks and card processing centres.
TietoEnator is one of the leading architects in building a more efficient information society and the largest IT services company in the Nordic countries. TietoEnator specialises in consulting, developing and hosting its customers' business operations in the digital economy. The Group's services are based on a combination of deep industry-specific expertise and latest information technology. TietoEnator has close to 14,000 experts in more than 20 countries.
BankServiss is the leading company for payment card data processing services in Latvia and the Baltic States. The company was the first payment card data processing centre in Latvia owned by many banks and started operations in 1992. The company has been certified to process transactions for the world's foremost payment card networks: MasterCard, Visa, American Express and Diners Club. Besides these international cards BankServiss operates proprietary cards for several local banks and fuel companies such as Neste. The main operations of the company are issuing processing, acquiring processing, clearing and settlement with domestic and international banks and payment schemes. Additional operations include the maintenance of acquiring network devices (POS terminals), transaction monitoring and personalisation services.
For more information please contact:
Maris Ozolins, General Manager
TietoEnator Banking Solutions
Cards, phone: +371 7286660.
BankServiss, phone: +371 7092500.
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