One of the reasons Advantage has such a low fraud rate is that we process disputes for all members in our network and receive all fraud notices. Because of this we are able to see fraud trends and common points of compromise before an individual institution would be able to spot them.
In addition, Advantage offers a number of best-in-industry products and services to member institutions including:
- Free Consumer Education/Awareness The best defense against fraud is the cardholder. By being aware and engaged they can help protect themselves from fraud.
- Checkcard Alerts About 50% of fraud is found by the cardholder.
- Chip Card Production When you complete a transaction at a chip-enabled terminal, a one-time code is generated for that transaction. This makes it nearly impossible to use stolen transaction data to create a counterfeit card, reducing in-store fraud.
- Data Navigator is a web-based tool that collects real-time data on all Checkcard and ATM card transactions made by your cardholders as well as all transactions made at your ATMs.
- Debit Insights is a data analytics tool that provides information about the behavior of your cardholders so you can meet their needs with Checkcard products and features.
- FIS SecurLOCK, Fraud Alert Management Fraud scoring and rules are applied to all Advantage card products and all card activity including ATM, PIN Debit and signature transactions.