Visa launches Visa Risk Manager decisioning service

The VRM enables issuers to use Visa’s centralised processing architecture and to analyse transaction information in real-time. Issuers can take action before, during or after a transaction is completed based on intelligence and transaction provided by VRM.VRM enables issuers to test various authorisation strategies against 13 weeks of historical data to find an approach that will minimise the most fraud.After establishing its custom authorisation strategy, an issuer can use the VRM to publish the new authorisation rules for all or a subset of its card portofolios and monitor their performance. The product includes the following services: Visa Rules Manager, Visa Real Time Decisioning, Visa Case Manager. Issuers can choose one or all the components.The Visa Rules Manager is a web application that enables issuers to create, test and publish customised decisioning rules using risk information from multiple source. The application also allows issuers to monitor the effectiveness of the rules and execute modifications based on emerging fraud trends. Visa Real Time Decisioning lets financial institutions to allow Visa to act on their behalf to decline or forward to the issuer for action, high-fraud –risk transactions using predefined rules created by the issuer. This real-time service never reaches the issuer as it flows through Visa. The last feature, Visa Case Manager is a web application that enables issuers to view, prioritise, and manage transactions that require investigation.VRM is a subscription-based product available to US and Canadian issuers as well as issuers in some Latin American countries.