“It used to take our fraud prevention team up to 90 days to clarify transaction complaints. Having INETCO Insight has cut this to a few hours of time in risk before problems are identified.” – E-Global
In recent years, banks and payment processors have made notable advances in how they assess and mitigate fraud risk across their payments and omni-channel retail banking environments. But fraud prevention solutions and predictive algorithms are only as good (and timely) as the customer data they ingest.
Unlocking the full value of customer transactions relies on the ability to bring this data together, across different business lines and increasingly complex systems, in an affordable and timely manner. This realization is what drove E-Global, the largest electronic payments processor in Mexico, to invest in a real-time data platform such as INETCO Insight.
Owned by BBVA Bancomer and CITI Banamex, E-Global services acquiring banks, merchant retailers and issuers operating in Mexico, Brazil and Central America. They currently process more than 8 million credit and debit card transactions each day, and are experiencing an average growth in transaction volumes of 20 percent year over year.
Managing the performance of credit and debit card transactions across multiple connections out to banks and retail merchants is a major requirement for E-Global. The Company depends on its IT operations team to quickly isolate operational performance issues that are impacting the completion of customer transactions. To become more proactive, they required a continuous view into how end-to-end transactions moved:
- From the acquirer to E-Global’s Authentic switch
- From the E-Global switch to the issuer
- The response from the issuer back to the E-Global switch
- From the E-Global switch to the merchant
E-Global also depends on their fraud prevention team to make sure transaction messages and data flows have not been altered or tampered with. This requires they have easy access to security-related transaction message fields for fraud analysis and predictive algorithms, such as:
- Message types
- Card numbers
- Transaction dates and times
- Fraud response codes
- Terminal ID’s
- ISO 8583 messages
Providing the multi-point transaction data capture, real-time alerting and open data streaming capabilities E-Global needs, INETCO Insight has proven to be a great fit. The IT operations and fraud prevention teams now have access to accurate and consistent transaction data for analysis. They can select the real-time transaction data most relevant to them and either use INETCO Insight to view this data, or forward it to their preferred fraud prevention environment. Enhancements include:
- The delivery of a more secure, undisrupted customer experience
- An improved ROI by extending the use of transaction data across IT operations and fraud prevention teams
- Faster average mean-time-to-repair
To learn more about the E-global business use case, you can download it here.
If you are thinking about how your Company can benefit from quality transaction data that can be leveraged and repackaged for multiple business use cases, you can contact me, as well.