CINCINNATI,
June 15, 2017
/PRNewswire/ -- Vantiv,
Inc. (NYSE:
VNTV), a leading provider of payment processing
services and related technology solutions for financial
institutions, credit unions and merchants of all sizes, was
selected the winner of the 2017 NAFCU Innovation
Award for its fraud protection solution,
OmniShield.
The award, which was announced on June 14 during NAFCU's annual conference and
solutions expo in Honolulu, comes
on the heels of recent internal analysis of MasterCard data by
Vantiv that showed Gross Fraud Basis Points for Vantiv issuers were
32 percent lower than the industry
average.1
OmniShield's powerful protection in fighting fraud translates to a
significant cost savings for financial institutions and credit
unions.
"This Innovation Award is further proof that Vantiv, a
leading payment processor, can continue to bring groundbreaking
solutions to the market," said Randy
Salser, president of NAFCU Services. "The judges,
prominent industry and trade media executives, have independently
taken note of Vantiv's ongoing innovative spirit."
Vantiv's OmniShield provides 24/7/365 support and operates
using three strategic components—People, Process, and
Technology—and utilizes advanced software to trigger real-time
alerts when fraudulent transactions are suspected. OmniShield's
multivalent approach has yielded significant results beyond the
lower-than-average Gross Fraud Basis Points. For example, Vantiv's
internal fraud analysis also found Vantiv issuers suffered fewer
fraudulent transactions per card on average than US
issuers.1
"OmniShield presents a real cost savings to credit unions
and financial institutions by reducing fraud loss while providing
best-in-class security against fraudulent transactions," said
Bill Hampton, senior vice president
and general manager of financial institution services at Vantiv.
"Because OmniShield is tailored to the needs of each financial
institution, Vantiv is able to deliver the most comprehensive fraud
coverage available on the market."
Learn more about Vantiv and its OmniShield Fraud
Protection solution for financial institutions and credit unions
here:
https://www.vantiv.com/businesses/financial-institutions-payment-processing/omnishield.
ABOUT NAFCU SERVICES INNOVATION
AWARDS
NAFCU Services Corporation is a wholly-owned
subsidiary of the National Association of Federally-Insured Credit
Unions (NAFCU). NAFCU Services exists to connect innovative credit
unions to the best industry partners. Our Preferred Partner Program
has been supporting credit union success for over 40 years. Credit
unions rely on NAFCU Services and our Preferred Partners for
superior solutions in areas such as technology, security, risk
management, operations, insurance, payments, and more. Combined,
our partners' products serve virtually 100% of all credit unions.
NAFCU Services selects only those companies that are highly
qualified industry leaders, so that credit unions gain access to a
vetted portfolio of providers they can trust. For more information,
visit
www.nafcu.org/nafcuservices and follow on
Twitter.
ABOUT
VANTIV
Vantiv, Inc. (NYSE: VNTV) is a leading payment processor
differentiated by an integrated technology platform. Vantiv offers
a comprehensive suite of traditional and innovative payment
processing and technology solutions to merchants and financial
institutions of all sizes, enabling them to address their payment
processing needs through a single provider. We build strong
relationships with our customers, helping them become more
efficient, more secure and more successful. Vantiv is the largest
merchant acquirer and the largest PIN debit acquirer based on
number of transactions in the U.S. The company's growth strategy
includes expanding further into high-growth channels and verticals,
including integrated payments, eCommerce, and merchant bank. Visit
us at www.vantiv.com, or follow us
on Twitter,
Facebook,
LinkedIn, Google+
and YouTube.
© 2017 Vantiv, LLC. All Rights Reserved. All trademarks,
service marks and trade names referenced herein are the property of
their respective owners. Vantiv and other Vantiv products and
services mentioned herein as well as their respective logos are
registered trademarks or trademarks of Vantiv, LLC in the U.S. and
other countries.
CONTACTS
Adam Kiefaber
Leader, Corporate
Communications
513-900-5097
Adam.Kiefaber@vantiv.com
Ian
Wissman
Corporate
Communications
513-900-5897
ian.wissman@vantiv.com
__________________________
1 Vantiv
issuer fraud rates vs. US issuer (Visa, MasterCard) averages based
on Q4, 2016 MasterCard Benchmarking Report.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/vantiv-wins-nafcu-innovation-award-for-fraud-protection-300474718.html
SOURCE Vantiv, Inc.