Eunexus Signs First Credit Card Fraud Clients

May, 2011    
Current News

Eunexus' Global Review of Card Fraud was conducted over three years ago, and highlighted the benefits of enhanced intelligence to fraud detection systems. This set the wheels in motion for the development of a dedicated industry card fraud service.

Eunexus worked with a number of Australian and New Zealand banks to analyse the benefit of intelligence sharing, and in 2010 developed a Patent Pending cards intelligence collaboration system for banks in Australia and New Zealand.

Eunexus is pleased to announce they have now reached agreement with a number of Australian banks to implement the real time fraud system. These agreements were reached after a select number of banks piloted the system, which returned strong, measurable results in the ongoing fight against Card Fraud.

Eunexus Director Dylan Foo says "The Card Fraud intelligence system was designed as an extra tool for banks to use, in their toolkit of fraud prevention. We have never believed there is a silver bullet to cards fraud, but collaboration of industry information can only help in the ongoing battle against fraud. We are pleased to work with our new clients, who are also keen to maintain an active dialogue in the future development of the system".

If you would like more information on any of Eunexus' practical fraud solutions or services please contact Eunexus.

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