As part of Online Channel Optimization (OCO) – solutions for expanding customer acquisition opportunities, deepening customer relationships and driving increased revenue – FraudNet™ from Fiserv is a centralized fraud detection and integrated case manager system for financial institutions that scores consumers' bill pay transactions against negative files, activity profiles and advanced rule sets and algorithms, aiding fraud agents in reviewing and making decisions on suspicious payments.
The Proactive Fraud Response
Leverage the collective intelligence of all participating network partners in a real-time environment, allowing for the review of suspicious payments while they are still in process. This heightened response to fraudulent activity enables financial institutions to reduce the impact of fraud on their online bill pay consumers and the operational costs associated with investigating fraud and attempting to recover losses.
The Value of a Real-Time Case Management Interface
Reduce operational costs and time associated with fraud management and prevention. FraudNet case manager is your fraud specialist’s single destination for all suspicious payment activity at your institution. Concise, at-a-glance data is available for your fraud specialist to quickly review the payment list, assign alerts and review relevant account and payment data to determine whether to permit payment processing or suspend the payment due to fraud.
The Advantage of a Strong FoundationAlong with FraudNet, Fiserv Online Channel Optimization Solutions include online banking for consumers and businesses; integrated personal finance management, account opening, funding and transfers; electronic billing and payment for consumers; electronic invoice presentment, payment and receivables solutions for small business banking customers; and flexible Web services technology.
FraudNet partners benefit from the network effect, strengthening an anti-fraud network as the market continues to evolve. To achieve effective fraud prevention and management, you need an efficient, turn-key solution that mitigates risk and reduces total losses resulting from fraudulent payment activity. FraudNet arms financial institutions like yours with the technology and intelligence to stop fraud before an attempt becomes a loss.
> For more information on FraudNet and our other Online Channel Optimization Solutions, contact your account executive at 800-830-3755 or Request More Information.