Alaric Announces Latest Release of Its Fraud Detection Technology

 

(London, England – 31 July, 2009) - Alaric, a leading supplier of advanced technology solutions for the card payments industry, today announced the latest release of Fractals, its award-winning fraud prevention and detection product.

"Release 3.6 of Fractals incorporates new features that deliver major benefits to our clients," said Mike Alford, Managing Director, Alaric Systems Ltd. "These benefits include dynamic calibration, which enables businesses to extract yet more detection performance from their existing intelligent scoring models; while the EMV enhancements extend the already rich range of variables that can be used in user rules and intelligent scoring models."

Fractals Release 3.6 features several new advances which include the following:

• Support for dynamic strategies - these are intelligent transaction scoring models which dynamically self adapt as fraud analysts identify fraudulent transactions and which drive a quantum leap in fraud detection rate.
• Full EMV support, enabling account to be taken of EMV data items (bit mapped fields) in fraud detection rules and intelligent transaction scoring.
• Post Scoring Actions, which return a fraud decision rather than a score to the associated authorization system, substantially eliminating programming changes required in its authorization system when an institution changes its authorization strategy. Post Scoring Actions empower risk managers to take a more pro-active and dynamic approach to fraud management.

As well as these new features, Fractals incorporates all the advantages of prior releases including:

• Platform independent, being written in Java and using the Oracle database
• Full PA-DSS compliance, the ONLY mainstream fraud detection and prevention solution to be so certified.
• Class leading intelligent transaction scoring.
• Point-and-click configurable fraud detection rules.
• Integrated issuer and acquirer functionality in a single package.
• Rapid, "out-of-the-box" installation incorporating an extensive pre-packaged standard set of user rules.
• Full multi-user, multi-product, multi-institution solution equally well suited for use by issuers or acquirers and or service providers.
• Low cost systems integration via Alaric’s unique, point-and-click configurable Message Mapper product, which comes pre-packaged with Fractals.
• Secure, browser-based user interfaces for distributed operation.

About Alaric

Headquartered in London and with international offices in the U.S., Malaysia and Australia, Alaric is a leading supplier of advanced technology payments based products and services. Alaric offers solutions for both SOA-based and conventional multi channel payments integration, card authorization, switching and routing, enterprise wide fraud detection and card fraud detection.

Alaric's products are 100% written in Java and are fully platform independent and scalable to meet the needs of the largest institutions and processors. Alaric is entirely focused on the payments industry and has a highly qualified team of payments and systems professionals who concentrate on designing and delivering sophisticated payment solutions based on Alaric's software products.