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CO-OP now protects 9.7 mln accounts, COOPER Fraud Analyzer monitors 113.6 mln transactions

Wednesday 11 March 2020 13:27 CET | News

COOPER Fraud Analyzer has monitored in real-time over 113.6 million credit union member transactions, and CO-OP Financial Services’ fraud-fighting tool protects 9.7 million accounts.

COOPER Fraud Analyzer uses rules, decisioning, and reporting to identify suspicious transactions, enabling the issuer credit union to review the activity and verify with the member. Moreover, with each new case, the details of the transaction get fed back into the database, which allows COOPER to ‘learn’ from the experience, adding another layer of intelligence to the system. COOPER Fraud Analyzer is part of CO-OP Shared Branch services, and it protects transactions at 5,710 branch locations throughout the US. 

Later in 2020, COOPER Fraud Score will be unveiled, which is meant to be integrated with existing CO-OP tools and provide a new transaction risk score. The risk score will be generated by ML, driven by data proprietary to CO-OP, and will utilise models developed by CO-OP staff. 



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Keywords: CO-Op Financial Services, accounts, COOPER Fraud Analyzer, transactions , identification, data, intelligence, ML, credit union, risk score
Categories: Securing Transactions | Digital Identity, Security & Online Fraud
Countries: World
This article is part of category

Securing Transactions