A long-time provider of strong authentication via the 3-D Secure protocol and CA Transaction Manager, Banorte has further advanced its authentication and fraud prevention capabilities using CA Risk Analytics, a transparent, intelligent risk assessment and fraud detection solution for 3D eCommerce transactions. CA Risk Analytics offers advanced, statistical predictive models to assess the risk of online, card-not-present (CNP) transactions.
CA Security solutions form the foundation of Banorte’s and Ixe´s Compra Segura, a key initiative to improve the online payment experience for its 1.7 million credit card customers, reduce fraudulent use of cardholder credentials and provide its customers a stronger credit card product with more benefits. The solution provides a frictionless customer interface for authenticating cardholders during the checkout process to help prevent credit card fraud. In this way, more than 30,000 transactions are protected on average every week, with more than the 40 percent of Banorte and Ixe customers enrolled on Compra Segura.
“Security and convenience are the two critical demands from our customers of our affiliate Banorte-Ixe Tarjetas S.A. de C.V. SOFOM E.R. Since implementing CA Risk Analytics, we have seen a dramatic decrease in transaction abandonment and improved the enrollment and update process. We’ve more than tripled the number of enrolled users, and also increased the authorization rate 15 percent, requesting authentication for only one fourth of the transactions,” said Manuel Romo, President of Products, Banorte. “The advanced authentication capabilities from CA Technologies give us the confidence that our customer transactions are secure while providing the customer with a seamless user experience.”
CA Risk Analytics relies on neural network models powered by machine learning techniques that capture data about individual user actions. This helps distinguish legitimate from fraudulent behavior. Optimized for 3-D Secure protocol, CA Risk Analytics helps prevent CNP fraud by transparently assessing the risk of a transaction in real-time.
“There is a need for a more advanced CNP fraud detection strategy that goes beyond simply comparing the current transaction to established fraud indicators. Using CA Risk Analytics can provide a more accurate assessment of which transactions to authenticate as legitimate and which transactions need to be flagged as potentially fraud,” said Nick Craig, vice president, Secure Payments, CA Technologies. “We have been working with Banorte to implement and deploy the best secure online payment solution.”
About Grupo Financiero Banorte, S.A.B. DE C.V. (GFNORTE)
Grupo Financiero Banorte (GFNorte; BMV: GFNORTEO) is one of the leading financial institutions in Mexico. After merging with Ixe, it became the third largest in the country and the largest financial group controlled by Mexican shareholders. Currently serving 13 million customers all over the country through a network of 1,300 branches, over 7,000 ATMs, over 5,300 banking correspondents and more than 162,000 POS terminals. GFNorte offers products and brokerage services, asset consulting, investment companies, leasing and factoring, warehousing, insurance, pensions and retirement savings. It runs the main Retirement Funds Administrator in Mexico, Afore XXI Banorte, serving more than 17 million accounts. Banorte has a presence in southern Texas through Inter National Bank, as well as in New Jersey and California through money transfer companies Motran and Uniteller, and also in New York, through Banorte Securities International. Banorte is one of the banks with better asset quality indicators within the Mexican financial system and possesses high levels of capitalization and liquidity. Learn more at www.banorte.com.