Bank One Transaction Processing Services has selected Nestor's Prism system for detecting fraud, the vendor announced.
Bank One has signed a licensing agreement for the neural network product, which will be applied to Bank One's brokerage clients.
Among Bank One's clients now using Prism are Crittson Financial, Morgan Stanley Dean Witter, and the Pershing division of Donaldson, Lufkin & Jenrette Securities Corp. These investment companies are applying Prism to debit card activity with asset management accounts.
Nestor, which sells fraud detection systems, has a similar licensing agreement involving credit cards with Total System Services Inc., the card processor based in Columbus, Ga.