Underscores the strength of i2c’s platform security and fraud technology; reduces operational costs and risk exposure for payment card programs
REDWOOD CITY, Calif. – May 20, 2013 – i2c, Inc., a Silicon Valley-based provider of cloud payment processing and emerging commerce solutions, today announced a new fraud management service that provides participating clients with a fully turnkey solution for fraud management. The service handles all aspects of fraud management, including detection, investigation, mitigation and reporting, and covers all losses relating to fraud.
i2c’s Premium Fraud Management Service is designed to help companies eliminate their exposure to fraud losses while reducing operational costs. It leverages the following proprietary fraud monitoring technology and services:
- Real-time, multi-event processing
- Robust multi-tier security
- Active transaction monitoring
- Dedicated risk management team
The i2c platform addresses fraud differently than legacy payment processing products by executing hundreds of fraud rules and complex multi-event checks in real-time prior to authorizing transactions. This is more effective than the neural networks and scoring methods used in legacy systems as it is able to detect and prevent the first fraudulent transaction attempt, rather than blocking transactions after significant losses have occurred.
“This is a distinct advantage of the i2c platform. Our stringent security practices, active transaction monitoring and experienced fraud management staff complement the platform’s capabilities, allowing us to greatly reduce the impact of fraudulent activity for our clients,” said Amir Wain, chief executive officer, at i2c.
The i2c Premium Fraud Management Service covers all transaction fraud losses while subscribed to the service and includes the following:
- Definition of an optimal fraud detection and prevention strategy
- Configuration of fraud settings in the i2c platform
- 24x7x365 transaction scanning using proprietary real-time fraud detection tools
- In-depth post authorization reviews
- Delivery of real-time fraud alerts to consumers and clients
- 24x7x365 inbound and outbound customer support for fraud reporting and transaction verification
- Case management, provisional crediting and chargeback processing
- Reporting and communications in compliance with network and regulatory requirements such as SAR and Regulation E