For card issuers, fraud risks are out of proportion with today's bottom-line realities.
Fraud is happening everywhere: in retail stores, at the gas pump, and most alarmingly, at the trusted ATM. According to Gartner Group, debit card fraud exploded fivefold over the past five years.
One major compromise can wipe out your institution's entire fraud reserve while jeopardizing the trust of your customers. While restitution costs can be measured in finite amounts, the more worrisome impact should be the loss of customers' confidence in the very safety and security of your institution. Over time, that translates to lost customers, both current and future.
And the worst-case scenario? Your institution first learns of a fraud incident when your customers report them.
Nothing substitutes for flat-out speed in today's war against fraudsters. If you don't possess the capability to identify fraud much earlier in the process, your risk of a fraud attack skyrockets.
Now let's talk reality – your reality.
If your institution is like most, your resources on the frontline of card fraud security are juggling too many responsibilities with too little time to regularly monitor debit card accounts for potential fraud effectively.
Managing fraud can be cumbersome and tedious, especially with limited resources, time and experience. Mitigating fraud requires intense data analysis and specialized skills. For an individual institution, it's analogous to reinventing the wheel on a daily basis, trying to just stay even with the criminals. But now you can get the tailored protection your institution deserves, you can treat fraud like a fixed business expense, your staff can focus on other important issues, and you can enjoy increased peace of mind knowing your institution is protected.
The OmniShield 360 solution can assume up to 100% of your fraud liability*.
Being able to treat fraud like a fixed business expense and eliminating the guesswork is a significant advantage for you. Given the increasing number and sophistication of fraud attacks, fraud management really should no longer be a do-it-yourself project for your institution. It's what we do. Our team of analytical experts and fraud professionals has the skills, technology and capabilities to act quickly and decisively when a problem is detected. We monitor more than 2.8 billion transactions a year for nearly 1,300 institutions. This enables us to identify potential threats faster and to take proactive measures sooner to protect cardholders from danger.
*Limitations and exclusions apply. Certain reimbursements provided by contractual indemnity insurance policy underwritten by a licensed insurance company and offered through a licensed insurance producer.
Surround your institution in total protection and complete confidence with OmniShield.
For clients using OmniShield 360, our most comprehensive card fraud protection solution, our fraud experts deliver continuous 24/7/365 fraud monitoring, rapid-response fraud prevention, dispute/chargeback processing and financial protection from fraud losses. With one decision, you can take the fight against card fraud to a completely new level. You'll have the peace of mind that comes with deploying active Vantiv management services to safeguard your institution, your brand, your cardholders, your portfolio and your bottom line.
Around the clock, we deliver active fraud management utilizing advanced fraud mitigation tools and our deep fraud expertise.
We take care of all required reporting, keeping you fully compliant.
We handle all your chargebacks processing so chargeoffs can be reduced and reimbursement of fraud losses increased.
We'll monitor card compromise alerts and provide reissue recommendations. If you decide to reissue cards, we'll help to defray those costs. We eliminate the difficulty of budgeting for fraud. No more guesswork assessing fraud risk.