The neural network technology company Nestor Inc. said it has been contracted by Mellon Bank Corp. to install the Prism CardAlert system.
Mellon, with a card portfolio of $1.9 billion, has been using Nestor software since 1992. Prism CardAlert will enhance the bank's ability to detect fraud, said John L. Klinck Jr., senior vice president of Mellon's credit card group.
"Using Prism's powerful case management capabilities and rules that address specific cases of fraud gives us the advantage to rapidly identify potential fraud activity," Mr. Klinck said.
Other Nestor clients include Banc One Corp. and Total System Services Inc.