RED and FIS to deliver fraud management solutions in LATAM

ReD

Partnering FIS

Global provider of fraud prevention services ReD, has announced that it has signed an agreement with FIS to provide fraud management solutions in Latin America and the Caribbean. 

ReD PRISM is a transaction monitoring and risk management solution that uses neural and rules-based technologies to provide real-time fraud decisoning. The solution can handle all card types across card-not-present and card present transactions and supports both chip & signature and chip & PIN cards.

 Marcelo Annarumma, Managing Director Latin America & Caribbean at FIS commented: “FIS has a strong base of clients across the Latin America region and we expect to see strong growth in card payments over the next few years.  The changes associated with the implementation of EMV and an increasing focus on ecommerce will bring significant challenges for card issuers, acquirers and retailers. The combination of FIS and ReD delivers innovative technology and proven expertise that will enable banks and retailers to take advantage of this anticipated growth with confidence, safe in the knowledge that they are enhancing their ability to effectively protect against fraudulent transactions.”

Manish Patel, Regional President of ReD, commented: “ReD has been investing in business development activities to take our world-class fraud prevention solutions into Latin America, where we are seeing the strongest growth in card transaction volumes and ecommerce. As part of this strategy, we looked for a strong pan-regional partner who could help us deliver our highly regarded ReD PRISM fraud solution across these and other markets. We have an excellent existing relationship with FIS and their strength in the region made them the logical choice. We very much look forward to building on our relationship with FIS to extend our support for banks and merchants across Latin America.”

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