What is the Everlink Fraud Management Solution?
Everlink has closely partnered with ACI to offer clients a real-time fraud management solution: Proactive Risk Manager (PRM). This real-time fraud monitoring solution is designed to reduce and control fraud loss, minimize customer impact, protect brand reputation and strengthen customer trust.
How Does It Work?
PRM is a system that helps manage and eliminate losses caused by suspicious transactions or fraud. It does this by comparing ATM and POS transactions, including demographic data, against “rules” which are created to identify certain conditions that would be considered fraudulent. By partnering with Everlink, we will deliver a comprehensive fraud management solution that consists of the following business processes and features:
- Demographic data processing, reporting and conversion
- Real-time and near real-time fraud alerts
- Outage handling
- Rule and alert management
- 24/7 alert management support
- Client reporting
- Internal reporting
- Client billing
In addition, Everlink offers the option to include outbound alert-call-outs to individual members, which includes the ability to:
- Receive queued fraud alert.
- Assess the legitimacy of the alert (false/positives).
- Contact the member/customer directly to discuss the fraud alert, if warranted.
- Take appropriate action on the account.
- Monitor accounts for trends and complete link analysis where applicable.
- Identify new skim locations via analysis of Common Point of Purchase alerts.
- Send Common Point of Purchase Alerts and Suspicious Activity Alerts to Issuers.
The ACI PRM solution provides a number of advantages over any other Fraud Management Solution in the market.
- Everlink clients have access to the most advanced version of PRM in Canada.
- Everlink’s implementation offers real-time monitoring on Day 1!
- With optional features including Mobile Fraud Alerts and Enterprise Fraud Monitoring, the depth of fraud protection extends well past cardholder transactions and in fact extends out to customers as part of larger, collective security Team.
Potential Impacts Resulting from a Lack of Fraud Management
- Damaged reputation
- Loss of client goodwill
- Financial liability
- Potential legal liability
- Fines and penalties
- Increased compliance costs
- Increased insurance premiums and / or deductibles
- Service disruption (including card blocking and reissue)
- Ancillary costs (such as forensic audits, law enforcement, cardholder support)