PULSE Neural Network Targets Debit Fraud

HOUSTON – PULSE has launched a new neural network-based fraud detection system across its network following a three-month beta development program involving several financial institutions. DebitProtect provides risk-scoring for all PULSE PIN, signature and PINless debit transactions on the PULSE network, and notifies designated financial institution personnel via e-mail of possible fraudulent transactions. “Because debit cards are used differently than credit cards, PULSE designed the DebitProtect system based on a highly customized data model developed specifically for debit portfolios,” said PULSE President Dave Schneider. Schneider said the service was developed for ease of use and does not require any technical changes on the part of PULSE participants.