Alaric Launches Anti-Fraud Solution
April 30, 2012
Alaric International, a London-based fraud prevention company, has launched a system it claims is the first to combine multiple internal and external data sources to fight online payment fraud. Fractals FIH (Fraud Integration Hub) integrates a client’s own internal systems and data streams with multiple external datasets that are available in real time via multi-channel mapping and integration abilities that enable users to create their own fraud detection rules.
“The volume of CNP transactions is increasing rapidly as people more frequently use the Web and mobile channels to make purchases,” says Mike Alford, Alaric’s CEO. “Fraud experienced in CNP channels can be as high 5 percent of purchases in markets such as airline tickets and high value electrical goods. With Fractals FIH, online merchants and payment services providers can control and manage their own real-time fraud response. We expect, therefore, that given the savings available through this wholly new approach, Fractals FIH will prove to be rapidly self-funding and an effective tool with which to defeat CNP fraud.”