Global financial technology leader FIS (NYSE:FIS) today announced that its SecurLOCK card fraud management solution is poised to deliver an increase in accurately detected and prevented fraudulent card transactions using a new partnership with FIS Fintech Accelerator graduate Stratyfy.
Through live customer testing, FIS assessed that the SecurLOCK product was able to provide a significant improvement in the accurate identification and prevention of fraudulent activity. By reducing this friction, consumers can be less affected than ever before by fraud rules and stopping “false positives”.
“With sophisticated fraudsters using new technologies to increase fraud attacks, both businesses and consumers face greater risk than ever before,” said Eric Kraus, Head of Fraud Services at FIS. “This new partnership is a continuation of our commitment to implementing new technologies, helping businesses prevent fraudulent behavior to protect the consumers they serve.”
“It’s rewarding to see how our unique machine learning approach can enable better results through this solution,” said Laura Kornhauser, CEO and co-founder of Stratyfy. “Our relationship with FIS demonstrates the tremendous value that is possible through partnerships, and we are excited to continue to build on this important work.”