IT-Online – 5/11/17
CA Technologies has launched its CA Risk Analytics Network, a card-issuer network that stops card-not-present fraud instantly for network members. Using realtime behaviour analytics, machine learning and global transaction data it can reduce online fraud losses by an average of 25%– a potential of $2,2-billion in savings.
As a cloud-based service, CA Risk Analytics Network incorporates a new advanced neural network model, backed by real-time machine learning, to protect 3-D Secure card-not-present (CNP) transactions. It learns from, and adapts to, suspected fraudulent transactions in an average of five milliseconds, instantly closing the gap for potential fraud using the same card or device across all members of the network.
According to Javelin’s 2017 Identity Fraud Report, explosive growth in card-not-present fraud, driven by the increasing e-commerce and m-commerce volume, as well as the EMV liability shift, contributed to the rise of existing-card fraud.