On the 28th of January, Entercard launched a new Fraud Management system called Falcon®.
Falcon® will ‘make our customers’ everyday lives easier’ by detecting and preventing them from fraud. “Launching Falcon® is a milestone for us, our partners, and foremost for our customers. The new setup means that we will bring Fraud Management in-house and be in control of the whole fraud value chain. This will not only secure safety and control for our customers, but also an all-in-all better customer experience. The new system in combination with internal expertise from our skilled customer-facing staff is predicted to decrease fraud losses and risk exposures by ca. 40% year-on-year”, says Anne Mette Krighaar, Customer Operations Director.
What is Falcon®?
Falcon® reviews card transactions in real-time to assess the likelihood of fraud.
Putting customers in control
In addition to Falcon®, Entercard has bought a solution called ‘SmartProtect’. SmartProtect is used for all automated and digital customer facing activities that the fraud department uses, and is also a tool for customers to be in control. This includes:
• Automated customer contacts via SMS, IVR and email, managed and triggered by Entercard
• Digital affidavit in which the customers can dispute transactions
• An agent moderator tool where Entercard can login and trigger actions and get information about all customer interactions that has happened.