The bank is using the CA solution, which supports 3-D Secure multi-layered authentication, to authenticate cardholders during the checkout process to help prevent credit card fraud. The authentication happens behind the scenes and is based on patent-pending, advanced analytic techniques. This helps reduce friction and decrease shopping cart abandonment in card-not-present (CNP) transactions by identifying legitimate cardholders and allowing them to proceed directly to checkout without interruption. The result is an enhanced and pleasant cardholder shopping experience.
“Card security is our number one priority. By partnering with CA Technologies we are adopting proven fraud prevention technologies while ensuring customers receive a responsive and rewarding service,” said product manager Matthias Minar, Hanseatic Bank. “We chose this solution based on CA Technologies strong domain expertise as the original co-creator of the 3-D Secure protocol with Visa to help prevent eCommerce fraud. This next-generation authentication solution is also immensely adaptive, giving the bank the flexibility to tailor the fraud rules for different groups of customers.”
Hanseatic Bank is one of the fastest-growing issuer of credit cards in Germany. With a 35 percent increase from 2013, the bank is experiencing explosive growth and aims to curtail fraud loss, while maintaining a positive customer experience. CA’s SaaS-based multi-layered authentication solution includes CA Transaction Manager to facilitate the implementation of the Verified by Visa 3-D Secure program and CA Risk Analytics to assess card-not-present (CNP) payment transactions in real time and determine the likelihood of fraud.
“Finding the balance of strong security and a transaction process that doesn’t inconvenience the customer has been a business challenge since the first online transaction,” said Doc Vaidhyanathan, vice president, product management, CA Technologies. “Our award-winning technology is in use by the world’s largest card issuers and touches more than 150 million cardholders. It offers powerful and configurable neural-network authentication models that enable zero-touch fraud prevention capabilities resulting in a positive cardholder engagement.” About Hanseatic Bank
Hanseatic Bank is a private bank based in Hamburg and operating throughout Germany. Founded in 1969 as a consumer credit institution to finance goods purchased by Otto Versand customers, it was converted into a chartered universal bank in 1976. The major French bank Société Générale acquired 75 percent of the shares in Hanseatic Bank in 2005, with the Otto Group continuing to own a 25 percent stake. The bank specializes in its four core businesses: consumer credits, deposit-taking, insurance and receivables management.