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Adeptra Auto-resolution technology identifies and prevents up to 40% more card fraud

NORWALK, CT, USA and READING, UK – June 2, 2009 – Adeptra, the recognised leader in automated contact and resolution services to companies engaged in consumer credit and risk management, today announced that in the battle to combat credit and debit card fraud, its Auto-resolution technology has been used globally to handle more than 15 million account queries, in the year to April 2009.

With recent APACS research suggesting that UK fraud losses on debit and credit cards increased by 14% in 2008, banks and card issuers are turning to Auto-resolution to intervene immediately, where suspected fraudulent account activity occurs. In the first instance, the bank alerts Adeptra to suspicious account activity. Then, in real time it selects one or more of the most effective channels to make the most time critical contact with the customer (such as automated outbound calls, SMS alerts or email), to ascertain whether the transaction was authorised or not. The customer is then provided with a number of options to resolve their account query, including self service interactive voice, sms or email, without the need to speak directly to an agent.

Auto-resolution benefits companies and their customers by greatly reducing the time gap between the suspected activity and the customer being informed. If a fraud has occurred, Auto-resolution ensures that debit or credit cards can be cancelled promptly, preventing further fraudulent activity taking place; alternatively, it also presents the customer with the opportunity to confirm that a suspicious transaction was legitimate, thus negating the inconvenience of having their card cancelled unnecessarily and saving re-issuing costs for the card provider.

Lou Venezia, CEO of Adeptra commented: “Customers are increasingly aware of the fraud risks associated with their credit and debit cards, and increasingly welcome measures designed to protect them and their accounts. When a suspected breach is detected, the speed of the response can make a considerable difference to the implications – both personal and financial. Auto-resolution is the most effective method for rapidly alerting customers to suspected breaches, enabling them to be resolved there and then.” He added: “A prompt response to a situation is the cornerstone of excellent customer service, and our customers recognise this, hence the sheer volume of account queries being successfully resolved by Adeptra’s Auto-resolution service.”

With a Software as a Service business model, Adeptra’s customers include 9 of the top 10 UK card issuers, 8 of North America's top 10 financial institutions, and 3 of the top 4 Australian banks.

ENDS

About Adeptra

Adeptra is the global market leader in Auto-resolution: technology that automates key call centre interactions to reduce their cost and dramatically increase performance. Applications are fully integrated, industry-specific solutions for business processes such as fraud detection, payment reminders and opt-in marketing.

Distinct from less sophisticated auto-dialler systems, Adeptra combines recorded dialogue with state of the art text-to-speech to reach out to individual customers and personally engage with then about important, time-sensitive issues. Adeptra is able to make thousands of customer contacts simultaneously and achieves higher levels of portfolio penetration and produces significantly better results than human agents alone. The resolutions it secures are delivered into clients’ computer systems for reporting and analysis.

Among its many customers, Adeptra is used by the majority of leading retail banks in the United Kingdom and the United States. It occupies a premium position in the market by continually reinvesting in its technology, operations and service structure. Adeptra was the first to be accredited to the highest data protection standards mandated by the payment card industry (PCI DSS) and, uniquely has achieved this is both the US and Europe.

For more information, visit www.adeptra.com

Jessica Humphrey|NSPR Limited
Tel: +44 (0)1628 502603

Opec House|High Street|Bray|Berkshire|SL6 2PP
www.nspr.co.uk

This press release was distributed by ResponseSource Press Release Wire on behalf of NSPR in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.