DCI, QPS partner to expand fraud prevention services

Monday 29 October 2018 13:57 CET | News

Data Center (DCI) has partnered with QPS to integrate QPS solutions for cross-channel fraud prevention with the DCI flagship iCore360 core banking software.

The QPS (Quatrro Processing Services) solutions aim to help community banks combat fraud and build profitable customer relationships using advanced tools for fraud monitoring, rule modification, and false positive management. Their functionality focus on productivity and agility across all portfolios.

As card fraud continues to be a concern for banks, it is projected to hit USD 31 billion by 2020. Moreover, 500 million checks are getting forged annually in the US. To address this fraud challenge, banks need to reduce fraud exposure by narrowing the window of opportunity for attacks. Using QPS sophisticated transaction analysis algorithms, and real-time fraud detection solutions, DCI will help banks by minimising fraudulent activities across portfolios like debit orcredit card, checks and same day ACH.

Moreover, QPS embraces multi-layered risk monitoring approach that adapts to changes in the threat landscape. This includes a seamless integration and coordination of human and machine intelligence via QPS and RiskNet technology by The ai Corporation.

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Keywords: DCI, QPS, partnership, fraud prevention, fraudulent activities, cross-channel fraud
Countries: World