Products
"The need for fraud solutions in the payment industry is more critical than ever and the professional staff at BasePoint offers a refreshing, innovative approach. Their expertise and creativity reflects their broad experience and knowledge, while their flexibility will result in strong business relationships."
Debit card losses have grown particularly aggressively in the past several years. For many years, entering a PIN to initiate a transaction afforded consumers and issuers protection by making debit cards more difficult and costly for fraudsters to compromise than credit cards. However, fraud has evolved and a PIN no longer provides adequate protection. BasePoint's FraudMark for Payment Cards uses predictive analytics to provide issuers with fraud scores for PIN debit transactions. These scores use sophisticated analytics that utilize trends on account spending, machine level (ATM and POS) activity, and historical legitimate and fraud transactions to calculate the likelihood of compromise of an ATM card or debit account. The identification of potential fraudulent activity enables financial institutions to take preventative measures early and minimize losses.
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Payment card fraud is continually changing, and predictive analytics by themselves cannot keep up with the frantic pace of change. In addition, non-optimal rules at the point of sale will not achieve the ideal balance between the quantity of transactions which are referred and the amount of fraud which is stopped. For this reason, leading financial institutions are now turning to optimization technology as a way to catch the most fraudulent transactions as they are taking place without an associated increase in the referral rate.
This optimization approach also ensures that the fewest customers are referred or declined for credit authorization at the point of sale. This minimizes the potential for damaging customer relations while also ensuring the highest revenue opportunity from interest income and interchange.
Strategy Optimization Product Brief (pdf)
FraudMark™ for Payment Cards
Fraud on credit cards and debit cards continues to change rapidly as fraudsters adapt to challenge the latest prevention techniques. As card issuers continue to advance in their uses of technology, fraudsters too invest in ways to continue to infiltrate their defenses and commit fraud. BasePoint's FraudMark uses patent-pending technology that combines two highly effective approaches for finding fraud: behavioral trends and historical patterns of both fraudulent and non-fraudulent applications or transactions. By combining both techniques, FraudMark provides a much higher degree of predictability to precisely identify which applications or transactions have the greatest risk of fraud. FraudMark also includes model performance reports that indicate performance metrics including how many fraud applications or transactions will be detected at each score level, the false positives at each score level, as well as the number of applications or transactions anticipated to score within each score level. This gives you the ability to set and change staffing, real-time decision criteria, and risk tolerance levels based on your individual risk management and production goals.Debit card losses have grown particularly aggressively in the past several years. For many years, entering a PIN to initiate a transaction afforded consumers and issuers protection by making debit cards more difficult and costly for fraudsters to compromise than credit cards. However, fraud has evolved and a PIN no longer provides adequate protection. BasePoint's FraudMark for Payment Cards uses predictive analytics to provide issuers with fraud scores for PIN debit transactions. These scores use sophisticated analytics that utilize trends on account spending, machine level (ATM and POS) activity, and historical legitimate and fraud transactions to calculate the likelihood of compromise of an ATM card or debit account. The identification of potential fraudulent activity enables financial institutions to take preventative measures early and minimize losses.
Request more information
Strategy Optimization
The financial services industry depends on optimization for making critical decisions regarding credit line management, customer retention, collections and marketing decisions. This optimization approach is now being used in the payment card industry to stop the riskiest transactions directly at the point of sale.Payment card fraud is continually changing, and predictive analytics by themselves cannot keep up with the frantic pace of change. In addition, non-optimal rules at the point of sale will not achieve the ideal balance between the quantity of transactions which are referred and the amount of fraud which is stopped. For this reason, leading financial institutions are now turning to optimization technology as a way to catch the most fraudulent transactions as they are taking place without an associated increase in the referral rate.
This optimization approach also ensures that the fewest customers are referred or declined for credit authorization at the point of sale. This minimizes the potential for damaging customer relations while also ensuring the highest revenue opportunity from interest income and interchange.
Strategy Optimization Product Brief (pdf)