eyeDES Customized Solutions for Card Fraud Management

Cardholder confidence in the electronic payment system is paramount in the financial industry. No forces are more damaging to the integrity of the electronic payment system than fraud. The effect and impact of fraud can be described in three broad categories:

• Erosion of cardholder confidence
• Risk to corporate integrity such as  loss of brand loyalty and
• Financial losses

IDES Technologies introduces next-generation, customized analytical technology to the market. The new proprietary technology is called eyeDES and has been coded into a next-generation fraud management product which can be customized according to the client database characteristics and requirements and it  can be easily updated on a regular basis.

In essence, the technology provides the ability to develop and deploy multiple risk prediction scoring and decision making models covering all payment card brands and products inclusive of credit, debit and retail banking products. eyeDES not only covers and detects the whole spectrum of fraud types, but also supports all fundamental role players, transaction processes and procedures in the payment cycle to reduce and manage fraud risk.

The performance of eyeDES has been tested and results indicate that fraud detection rates rank as one of the highest and even exceed detection rates demonstrated by other available products on the market.

eyeDES solutions are applicable to Schemes/Issuers/Acquirers/Retailers.