First Data Teams With Banks For EarlyFraud Warning

May 24, 2006, 1:00 a.m. EDT 1 Min Read

DENVER - (05/24/06) First Data Corp. announcedTuesday it has joined with five large banks to form Early WarningServices LLC, to help them better combat fraud and identity theft.First Data's former subsidiary Primary Payment Systems is beingconverted into the new company. Bank of America, BB&T Corp., JPMorgan Chase, Wachovia and Wells Fargo are backing the new venture.The company, based in Scottsdale, Ariz., will market its servicesto brokerage firms, credit unions, banks and others. In addition tousing technology from PPS, Early Warning also will employanti-fraud technology from another First Data subsidiary,IDLogix.

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