FIS and CSCU Introduce a New Fraud Protection Product
JACKSONVILLE and CLEARWATER, Fla. - In an effort to ensure that credit unions have the best defense against fraud, Card Services for Credit Unions (CSCU) and Fidelity National Information Systems, Inc. (FIS) announced today that they are offering COMPROMISE MANAGER™, a new card fraud solution from FIS.
“We know that plastic card fraud is a growing concern, but we also know that fraud is manageable and that credit cards still have the highest return on assets (ROA) of any loan opportunity for credit unions,” said Robert Hackney, CSCU president.
COMPROMISE MANAGER is a complete package for managing accounts, with features that include the ability to:
- Delay blocks or specify a date to begin blocking
- Mitigate losses through timely blocking, communication and monitoring capabilities
- Reduce the administrative costs of staffing for larger events
- Provide for easy account actions online or by data mining offline
- Automate compromise notifications to cardholders
In addition to fraud management, the solution's robust features can be integrated easily with other systems, for convenient and efficient operation.
“With all the cardholder data right in front of me on COMPROMISE MANAGER, I now am able to easily select those accounts truly at risk,” said Jeanifer King, card services coordinator of OBEE Federal Credit Union in Tumwater, Wash. “It is extremely convenient and easy to use, and it eliminates lots of keystrokes.”
“Fraud prevention is becoming a critical focus at smaller financial institutions,” said Tony Ficarra, executive vice president of e-Business Services for FIS' Integrated Financial Solutions division. “FIS gives small to midsized financial institutions the leverage they need to offer credit and debit cards without the risk.”
A demo of the COMPROMISE MANAGER product is available for preview at www.fisriskmanagement.com.
Card Services for Credit Unions (CSCU) was founded in 1989, when 455 credit unions, with just over 1.3 million accounts, united to establish a card processing association dedicated to meeting the growing and unique needs of credit unions. Today, with more than 3,200 member credit unions representing more than 12 million Visa and MasterCard accounts, CSCU is the nation's largest credit and debit card processing association exclusively for credit unions.
About Fidelity National Information Services
Fidelity National Information Services, Inc. (NYSE:FIS) is a leading provider of core processing for financial institutions; card issuer and transaction processing services; mortgage loan processing and mortgage-related information products; and outsourcing services to financial institutions, retailers, mortgage lenders and real estate professionals. FIS has processing and technology relationships with 35 of the top 50 global banks, including nine of the top 10. FIS is a member of Standard and Poor's (S&P) 500 Index and has been ranked the number one overall financial technology provider in the world by American Banker and the research firm Financial Insight in the annual FinTech 100 rankings. Headquartered in Jacksonville, Fla., FIS maintains a strong global presence, serving more than 9,000 financial institutions in more than 80 countries worldwide. For more information on Fidelity National Information Services, please visit www.fidelityinfoservices.com.