Visa Offering Issuers A New Antifraud Tool

Published April 11, 2012, 11:43 a.m. EDT

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Updated April 11, 2012, 10:43 a.m. EDT

1 Min Read

Visa Inc. has launched a new tool to help issuers spot fraud, the card brand announced April 11.

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Visa Strategy Manager can spot the riskiest transactions and help issuers flag them for review.

"Financial institutions have to process thousands or millions of transactions each day. This means that a vast amount of data must be analyzed for fraud risk," Mark Nelson, Visa head of global risk and authentication product development, said in a press release. "Visa Strategy Manager makes things easier for issuers by automating the process for writing their fraud-detection rules and responding to real-time fraud trends."

Visa Strategy Manager builds on an earlier risk-management service, Visa Advanced Authorization, the payment network says (see story).

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