News from the Wire

FSV Payment implements Enacomm fraud control module

Tuesday, October 25, 2016 — 11:07:46 (EDT)

Las Vegas, Oct. 25, 2016 – FSV Payment Systems, a U.S. Bank wholly-owned subsidiary and a leader in prepaid program management and processing services, is now utilizing Enacomm’s ViA® Fraud Control Module to effectively handle suspicious caller activity, the companies today announced at Money20/20. Enacomm is a leading provider of intelligent customer interactions solutions and security technology for financial institutions and credit card companies.

The Fraud Control Module builds upon Enacomm’s Virtual Interactive Analyst (ViA) offering, which is an analytics tool for call centers featuring real-time IVR, web, mobile, SMS, CTI and quality reporting, monitoring, and alerting. Employing data gathered by ViA, the next-generation add-in module enables users to create fraud rules based upon PIN changes, number of accounts and or cards per individual, authentication failures, card-to-card transfers, and multiple other caller behaviors within the IVR system.

“FSV is committed to providing its account holders with the highest level of fraud protection available – in this day and age, that means staying on the leading edge of technology,” commented Peter Klukken, General Manager, Prepaid Division of U.S. Bank. “The Enacomm Fraud Control Module’s configurable tools are a crucial part of FSV’s fraud prevention strategy.”

Through the Fraud Control Module’s wide range of features and customizable anti-fraud rules, FSV is able to identify and shut down alleged fraud on a continual basis. Thanks to the large amount of IVR call data that the Fraud Module constantly analyzes, FSV is able to mitigate fraudulent activity and report information gathered on criminal activity to the proper authorities.

“FSV is truly a leader in the prepaid industry; Enacomm is proud to provide FSV with the modern technology that is repeatedly thwarting financial fraud, which would impact both FSV and its many customers,” said Enacomm Chief Executive Officer Michael Boukadakis. “A proactive approach to combatting criminals targeting the call center channel is crucial for preventing significant losses and damage to a brand’s reputation.”

Enacomm’s Fraud Control Module is customer-driven, giving organizations the flexibility to create unique fraud rules and designate associated action sets, such as limiting caller functions in the IVR and automatically notifying an organization’s risk management group, to immediately counteract suspicious activity. To optimize risk assessment on an ongoing basis, fraud records and fraud notifications are automatically generated by the Fraud Control Module 24 hours a day, 7 days a week. This enables organizations to make decisions about how to handle each suspected or confirmed fraudster based on detailed interaction records.

FSV also takes advantage of the Enacomm Fraud Control Module’s reporting feature to break down large volumes of data into specific targeted activities. AdHoc reports enable FSV to search for suspicious trends using distinct information tied to the specific rules that have been implemented to reduce card fraud.

To learn more about how Enacomm’s ViA Fraud Control Module fights financial fraud, go to www.enacomm.net. For more information on FSV Payment Systems, visit www.fsvpaymentsystems.com .

About Enacomm

Enacomm is a leading provider of innovative, interactive and intelligent customer self-service and assisted-service solutions. A frontrunner in interactive voice response (IVR) technology, Enacomm solutions are delivered as hosted services or on-demand through the cloud. The company’s customer base is made up of Fortune 50 to Fortune 2000 companies concentrated in the Financial/Credit Union, Prepaid/Cash Card, Health Care and Utilities industries. Utilizing web, mobile, SMS texts, email, voice and other communication technology channels, Enacomm helps organizations provide customers with a superior, multi-modal self-service experience. Enacomm processes more than 1,000,000 voice calls, SMS texts, emails and automated data transactions every day. To learn more, go to www.enacomm.net .

About FSV Payment Systems

FSV Payment Systems, Inc., a subsidiary of U.S. Bank, is one of the nation's largest payroll card providers. Its leading edge technology, combined with its industry expertise, provides employers with quick program implementation, high adoption rates, comprehensive training and increased operational efficiencies. FSV Payment Systems was established in 1999, at the beginning of the prepaid industry, as a prepaid card program manager and card processor. Since that time, the company has implemented hundreds of programs and now processes millions of prepaid cards each year. To learn more, go to www.fsvpaymentsystems.com .

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Source: Company press release.