Tieto has successfully implemented its Card Suite Fraud Management solution in PASHA Bank, Azerbaijan. With this new solution, PASHA Bank aims to further strengthen security and stability for its customers by preventing and detecting fraud.
PASHA Bank was founded in 2007 and is focusing mainly on corporate and private banking. The bank has successfully been running on Tieto Card Suite platform since year 2009. The need for a dedicated and more specialized security tool follows after the past years’ growth and acquisition of new customers.
“We understand that the segment of customers PASHA Bank aims at requires individual approach and higher level of funds protection. With the new Fraud Management solution from Tieto we are now able to provide even more security to our cardholders and minimize card fraud”, says Leyla Mammadova, Head of Direct Banking, PASHA Bank.
Tieto`s Card Suite Fraud Management System is an advanced rule-based fraud monitoring tool. The solution consists of two main parts – payment card fraud prevention and fraud detection that ensure fraudulent transaction detection and analysis, as well as real-time fraudulent case prevention, eliminating fraud before it even happens. Card Suite Fraud Management is a flexible system that can be integrated with almost any payment card software. This way a bank or processing centre can safeguard itself and its customers from unwanted direct and indirect losses in long-term.
“We have watched and helped PASHA Bank grow and become a successful business as it is now. Customer trust and loyalty is crucial, so to them security and stability is key,” says Maris Ozolins, Director of Cards, Tieto Financial Services. “Card Suite Fraud Management will help to save time, resources, and most importantly – funds.”
As the demand for immediate payments implementation grows in the United States, Iliad Solutions have identified one of the largest risks to face the payments industry over the next few years.
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.