Our Card Activation solution helps reduce NRI (Never Received Issue) fraud by sending out inactive plastics. During the embossing phase, a card activation sticker is affixed to the credit/debit/ATM card, and includes directions and a toll-free number to call for activation. The cardholder is authenticated and the card is activated based on account record information.
Risk Management Solutions
Your Concerns are Our Priorities
Safeguarding credit/debit portfolios and online bill payment is a high priority for all credit unions. We employ advanced neural technology to increase security, reduce expenses from fraud and proactively detect fraudulent transactions so that fraud can be stopped before it results in an actual loss. In addition, we were one of the first CUSOs to achieve PCI compliance, which is required for any third party that interacts with sensitive data from your institution.
PSCU is a founding member of the Credit Union Risk Council
We assist credit unions with developing and implementing effective strategies to minimize fraud. Working with both law enforcement agencies and credit card companies, CURC tackles risk management from a credit union perspective.
Don’t Just Detect Fraud, Help Prevent It
Fraud prevention is one of our highest priorities. Our neural network performs real-time monitoring to analyze and score transactions, discover trends and detect suspicious activity - 24/7/365. Our experienced analytics team continually adjusts fraud detection strategies for maximum effectiveness. The team also performs comprehensive compromise analysis to help you understand the impact of major compromises for informed decision making. Our fraud management group aggressively works cases on your behalf and achieves some of the best recovery rates in the industry. Our CardLock®puts fraud prevention in the hands of your members by enabling them to lock and unlock their credit and debit cards for authorizations. Because of our robust technology and team expertise, our credit unions experience a significantly lower fraud loss rate than the industry standard.
We also enhance security for cardholders and issuers through special processes that protect against mail fraud, reduce the risk of “never received issue” (NRI) fraud, ensure the security of online transactions and detect and deter internal fraud.
PSCU offers you comprehensive solutions to protect online bill payers, minimize losses and enhance profitability.
Free Yourself from the Following Foes
- Compromised Accounts
- Counterfeit Cards
- Fraudulent Purchases
- Insufficient Funds
- Internal Fraud
- Internet Fraud
- Mail/Telephone Fraud
- Phishing
- Spoofing
- Suspicious Transactions
For more information on our solutions and services, please click here or contact us today at (800) 443-7728, Ext. 4007.
Solutions
Core Payment Solutions
Cardholders having trouble remembering their Personal Identification Number (PIN)? Not anymore. Allow your members the opportunity to select a PIN they can remember. A mailer can be sent that provides all the necessary information and steps to change their PIN to one they can easily remember.
Your credit union can also choose to offer this solution through Interactive Voice Response (IVR) and/or through ATM terminals.
Risk Payment Solutions
Card Value Denial Threshold for Signature and PIN transactions help protect against “brute force attacks.” Card Value Denials are monitored and counted based on your selection of number of denials within a defined timeframe.
First CUSO To Deliver This Preventative Technology!
We are the first CUSO to deliver advanced neural network technology that examines incoming credit and debit authorizations for potential fraud - in real-time. CUNA Mutual, the bond coverage underwriter for many credit unions, endorses this technology as an effective fraud management tool. Each authorization is analyzed using a database that contains profiles of merchants and cardholder behavior. Any fraudulent activity automatically updates the database, so that fraudulent attempts can be immediately detected and both current and future attempts can be prevented. Our Falcon Fraud Detection Center reviews each suspicious transaction, reviews the cardholder account and calls the cardholder if necessary.
Other activities that proactively reduce the risk of fraud are our detailed authentication processes for card activation and the co-mingling of cards with other mail to reduce the risk of mail fraud. Our well-trained Contact Center representatives handle activation calls. Cardholders are asked to confirm proprietary personal information as well as identify unique data from the card. U.S. cardholders receive a toll-free number and international cardholders received a collect number. Both Visa and MasterCard report that these techniques significantly reduce the risk of fraud. These security techniques can also earn a discount from insurers, while increasing cardholder confidence and boosting loyalty.
Footprints Online Service helps issuers track transactions entered by your employees on cardholder’s accounts residing on the First Data system. Using an interface with First Data, your credit union can select, view, and download transactions by User ID and date range. Transaction reporting history, either by User ID or cardholder, is available for 120 days.
FraudNet™, the leading bill payment fraud detection tool, enables us to leverage technology, shared intelligence, and our expertise to stop fraud before an attempt becomes an actual loss.
In managing online risk we provide the peace of mind of preventing online bill payment fraud through the industry's leading and most trusted fraud prevention application the FraudNet™ solution. FraudNet™ is powered by the world's only fraud engine specifically designed to detect fraudulent bill payment transactions. Online users will now experience increased security and confidence with the addition of FraudNet™ to PSCU's online bill payment solution.
FraudNet™ provides your members with the increase sense of security through its neural technology feature by proactively detecting fraud and stopping fraud attempts before they become actual losses. The system leverages data with participating partners in a real time environment while at the same time links up to a detection network that becomes larger and more intelligent with time.
Victims of identity theft spend an average of 40 hours and more than $400 to restore credit and identification information.
Users of financial services are understandably concerned by recent large-scale thefts of personal information. PSCU's affordable and comprehensive Identity Theft solution delivers peace of mind for your members - with turnkey solutions and support that help your credit union meet FACTA compliance requirements.
Our Identity Theft solution can be offered several ways. The Blanket program provides a low-cost way to offer complimentary identity theft protection for your members. Basic coverage includes: an assigned recovery advocate that assesses damage, creates a recovery plan that includes the use of limited power of attorney, and corrects all incidents of fraud. This plan also provides 12 months of post-recovery follow-up. The CLUB program offers the same managed identity recovery services described above, but the benefit also extends to the member’s family including children under 25 and parents in the same household. Advanced coverage adds continuous credit monitoring with weekly alerts that identify account activity, educational materials, and identity theft insurance of up to $10,000 in reimbursement expenses. Customizable marketing materials including branch posters, brochures, and statement inserts are available to all subscribing credit unions.
The Identity Theft solution from PSCU offers several competitive advantages including: managed recovery, coverage of identity theft events that occurred before enrollment, and no exclusion for identity theft by family members. Credit unions also receive fee income for all enhanced coverage subscriptions. In addition, we can supplement your Red Flag Strategy by providing a written plan template and a gap analysis as well as employee education and training.
Secure Online Transactions for Signature transactions reduces the risk of fraudulent account number use by securing transactions through Verified by Visa and MasterCard's SecureCode. Both programs provide a safer e-commerce solution by verifying a cardholders account ownership in real-time. This encourages Web-based shopping by your members and simultaneously reduces fraud losses and lowers chargeback and dispute costs to the credit union.