New CA Technologies Payment Security Solution Reduces Online Fraud Loss by 25 Percent
May 04 2017 - 9:00AM
Business Wire
CA Applies Real-Time Behavioral Analytics and
Machine Learning to Largest Pool of Online Transaction Data to Stop
Fraud Instantly
CA Technologies (NASDAQ:CA) today announced CA Risk Analytics
Network, the payment industry’s only card-issuer network that stops
card-not-present fraud instantly for network members using
real-time behavior analytics, machine learning and global
transaction data to reduce online fraud losses by an average of 25
percent* – a potential of $2.2 billion in savings.**
As a cloud-based service, CA Risk Analytics Network incorporates
a new advanced neural network model, backed by real-time machine
learning, to protect 3-D Secure card-not-present (CNP)
transactions. It learns from, and adapts to, suspected fraudulent
transactions in an average of five milliseconds, instantly closing
the gap for potential fraud using the same card or device across
all members of the network.
According to Javelin’s 2017 Identity Fraud Report, explosive
growth in card-not-present fraud, driven by the increasing
e-commerce and m-commerce volume, as well as the EMV liability
shift, contributed to the rise of existing-card fraud. “Just as
e-commerce is displacing point-of-sale transactions, the same is
true for the channels in which fraudsters choose to conduct their
business. Among consumers, there was a 42 percent increase in those
who had their cards misused in a CNP transaction in 2016, compared
to 2015 levels,” the report showed.
“Detecting anomalies quickly and ensuring frictionless
authentication are the first steps in preventing card-not-present
fraud without impacting legitimate cardholder transactions,” said
Terrence Clark, general manager for CA Technologies Payment
Security solutions. “Our data scientists have applied advanced
analytics and new, real-time, machine learning algorithms to the
global pool of 3-D Secure, e-commerce transaction data and device
insights maintained by the CA Payment Security Suite. This provides
faster and more accurate online fraud detection and prevention,
reducing fraud losses for network members while streamlining online
shopping experiences for consumers.”
CA’s payment security solutions protect billions of online
transactions supporting hundreds of millions of cards and thousands
of card portfolios worldwide. CA Risk Analytics Network is open to
card issuers with portfolios of any size: from global banks with
millions of cardholders, to smaller, or regional financial
institutions.
Support for 3-D Secure protocols today and in the
future
CA Risk Analytics Network and the CA Payment Security Suite
support the 3-D Secure specification today, and will support the
new EMV 3-D Secure 2.0 specification, which addresses
authentication and security for card-not-present, e-commerce
transactions using smart phones, mobile apps, digital wallets and
other forms of digital payment. The 2.0 protocol will make
extensive use of device data, giving CA Risk Analytics Network
subscribers a growing new source of information to reduce fraud and
optimize the customer experience across all consumer shopping
devices and all versions of the 3-D Secure protocol. Support for
both the 1.0 and 2.0 specifications is important as adoption rates
of the updated specification among card issuers and merchants will
vary.
Resources
- Customer Video
- Customer Reviews
- Summary of 3D Secure 2.0 and how CA can
help
*Data based on applying the new CA Risk Analytics Network fraud
model to historical customer data over a 90-day period.
** Potential savings based on existing-card account fraud of
$8.8 billion in 2016, reported in “2017 Identity Fraud: Securing
the Connected Life,” a Javelin Strategy & Research survey
conducted among 5,028 U.S. adults over age 18.
About CA Technologies
CA Technologies (NASDAQ:CA) creates software that fuels
transformation for companies and enables them to seize the
opportunities of the application economy. Software is at the heart
of every business in every industry. From planning, to development,
to management and security, CA is working with companies worldwide
to change the way we live, transact, and communicate – across
mobile, private and public cloud, distributed and mainframe
environments. Learn more at www.ca.com.
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Copyright © 2017 CA, Inc. All Rights Reserved. All trademarks,
trade names, service marks, and logos referenced herein belong to
their respective companies.
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PressCA TechnologiesLeanne Agurkis, 407-620-2136
(Mobile)Leanne.Agurkis@ca.com
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