LexisNexis® ThreatMetrix® Helps Mitsubishi UFJ NICOS Reduce Fraud Losses
Mitsubishi UFJ NICOS operates both credit card issuing and business acquisitions and must consistently combat unauthorized use of credit card risk. The firm turned to LexisNexis® ThreatMetrix® to leverage risk-based authentication as part of its credit card payments fraud mitigation strategy.
ThreatMetrix gave them the ability to see the very early warning signs of a possible scam—be it remote access software installation or an unauthorized payment. Through the power of additional data, such as device, IP, location as well as typical customer behavior, fraud detection rates rose by up to 20%.
ThreatMetrix gave them the ability to see the very early warning signs of a possible scam—be it remote access software installation or an unauthorized payment. Through the power of additional data, such as device, IP, location as well as typical customer behavior, fraud detection rates rose by up to 20%.
Now that it is easier to piece together the digital footprint of online users across businesses, industries and locations, fraudulent behavior can be quickly flagged. As a result, Mitsubishi UFJ NICOS can more reliably identify high-risk transactions in near real-time, empowering card issuers to decide whether to accept, reject or step-up suspicious fraudulent credit card payment transactions.
Want to know more? Download the Mitsubishi UFJ NICOS case study.
