Emerging Markets Payments (EMP), an electronic payments processing provider in the Middle East and Africa, has rolled out EMP Online Fraud Prevention Services that protect banks from exposure to fraudulent transactions.
The new tool will automatically analyse card transactions before they are completed.
It will also automatically decline the transaction if the risk rules are violated and will continue to decline the future transactions until the restriction is manually removed.
The tool provides flexibility to the banks to tailor rules for specific client segments and also to specific clients.
The installation of the new service will be carried out by EMP, which provides default conditional algorithms covering most fraud cases.
The banks can also instruct EMP to implement additional algorithms and to modify parameters in line with their requirements.
EMP Africa CEO Murat Ozulku said: "Designed to keep pace with the constant developments in financial transaction fraud, it provides effective protection against the type of activity that directly affects profitability.
"In this way EMP continues to deliver the top-quality service needed for our bank customers to focus on their day-to-day operations."