CSI Enhances Card Sentry Risk Mitigation with ReD Prism
ReD offers robust solution to help CSI enhance customer service and fraud loss averages
Edison, NJ and Paducah, Ky., May 14, 2012 – ReD, a leading provider of fraud prevention and payment services, and Computer Services, Inc. (CSI) (OTCQX: CSVI), today announced that CSI’s Card Sentry risk mitigation system now includes ReD PRISM® fraud-detection capabilities. The switch to ReD PRISM will improve overall fraud-monitoring services and will also enable CSI to integrate and manage customer relationships more effectively.
“We made the strategic decision to incorporate ReD PRISM into Card Sentry to ensure our customers continue receiving an industry-leading fraud-protection service that prevents and/or mitigates our banks’ card fraud losses,” said Derrick Bretz, product manager, CSI. “To grow and strengthen our product, we understand the importance of working with a partner that supports our short- and long-term business objectives. ReD understood our vision and provided a solution to meet our needs.”
Acting as a fully managed fraud-mitigation service, ReD PRISM is incorporated into CSI’s Card Sentry and uses dynamic rule strategies to determine the likelihood of a transaction being fraudulent. The ReD PRISM monitoring and detection system reduces the number of fraudulent transactions that occur before the fraud is identified and cards are blocked, reducing overall fraud losses. The system expands Card Sentry’s case management and workflow capabilities, enhancing CSI’s data analytics and helping to determine any potential points of compromise.
“Losses from card fraud are a major concern for banks and their customers,” said Kevin Sprake, president, North America, for ReD. “Staying ahead of fraudsters is a daily issue and we stand behind our commitment to innovate and create leading solutions that mitigate fraud. We listen to our customers and take pride in providing solutions that are ahead of the game. We also understand the importance of offering technology that is flexible and can quickly and easily integrate into existing offerings.”
ReD PRISM delivers industry-leading fraud-management capabilities for issuers, acquirers, processors and switch networks. ReD PRISM is available both as a licensed solution and a managed service and utilizes predictive and neural scoring and rules-based technologies to provide real-time and near-real-time fraud decisioning.
Card Sentry helps banks proactively manage risk associated with card fraud. It detects unusual activity based on known patterns in account or transaction history and works by scanning transactions and comparing them in near real-time to industry standard rules written to match specific and currently identifiable fraud trends. ReD PRISM provides the flexibility for CSI to enhance and manage the information that is available to their custom rule strategies.
ReD is a world leader in card fraud prevention and payment services. Independent of any card scheme, ReD is present at every stage of the payments value chain, supporting merchants, PSPs, issuers and acquirers, processors and switch networks in the fight against fraud. As a participating organization on the board of the PCI DSS Security Standards Council, ReD plays a central role in setting standards for the payments industry. ReD employs some of the world’s leading risk and fraud analysts and gathers data from more than 190 countries. The company serves customers across six continents, from telecommunications, retail, travel, petroleum, banking and broader e-commerce sectors. Customers include Chevron, John Lewis, Shell, T-Mobile, Tesco Mobile and Virgin Mobile. ReD has offices in Australia, China, India, Singapore, South Africa, United Kingdom and the United States. For more information about ReD, please visit: www.redworldwide.com
About Computer Services, Inc.
Computer Services, Inc. (CSI) delivers core processing, managed services, mobile and Internet, payments processing, print and electronic distribution, and regulatory and compliance solutions to financial institutions and corporate customers across the nation. Exceptional service, dynamic solutions and superior results are the foundation of CSI’s reputation in empowering businesses to remain competitive, compliant and profitable. CSI’s stock is traded on OTCQX under the symbol CSVI. For more information about CSI, visit www.csiweb.com.