Detecting fraudulent payments with device recognition and advanced rules engine by 41st Parameter, a part of Experian.
NTT DATA Corporation (HQ: Tokyo, Koto-ku; President: Toshio Iwamoto), as part of an effort to detect online payment fraud, has developed a new Fraud Detection Service for CAFIS® (Credit And Finance Information System). The first phase will be aimed at e-commerce companies and will launch in April 2014.
There has been a sharp increase in both the volume of online transactions and international business in recent years. With credit cards being the dominant payment method, fraudulent payment protection has become a top priority for e-commerce companies.
Fraud Detection Service adopts 41st Parameter, a part of Experian’s proprietary device recognition and rules engine technology to provide a highly secure service from NTT DATA’s domestic data center. This service enables e-commerce companies offering physical products, airplane tickets, entertainment tickets and other items for sale online to minimize their fraud losses and more effectively grow their businesses. Further, with moves to include this fraud detection functionality to CAFIS’s existing transaction processing, users can expect fast and efficient fraud prevention.
NTT DATA aims to make a social contribution through the prevention of financial crime. In the future NTT DATA plans to continue to strengthen its online payment fraud solutions and include financial institutions and credit card companies.
About 41st Parameter
In a world where people are increasingly reliant on a variety of Internet-connected devices for everything from banking to shopping to entertainment and media, creating relevant customer experiences and preventing online fraud are constant business challenges. 41st Parameter, the global leader in device recognition and intelligence, combines patented technologies and years of expertise to identify devices without cookies, without compromising privacy and without impacting performance. The company’s FraudNet platform protects businesses from online fraud before it happens. AdTruth, the digital media division, gives marketers a better way to recognize and reach their most valuable audiences across all types of devices. The TrustInsight™ Network enables online merchants to increase sales by approving more trusted transactions. These privacy compliant solutions help keep the Internet more secure and relevant for everyone.
About NTT DATA
NTT DATA is your Innovation Partner anywhere around the world, with operations in more than 35 countries. NTT DATA emphasizes long-term commitment and combines global reach and local intimacy to provide premier professional services from consulting, application services, business process and IT outsourcing to cloud-based solutions.