Q2’s New Fraud Alerts System Eases the Pain of Debit Card Breaches for Community-Focused Financial Institutions
11 Oktober 2016 - 4:00PM
Business Wire
Add-on component to industry-leading
CentrixDTS™ minimizes costs related to continual retail debit card
breach incidents
Q2 Holdings, Inc. (NYSE: QTWO), a leading provider of secure,
cloud-based digital banking solutions for community-focused
financial institutions (FIs), announced today the launch of its
Centrix Dispute Tracking System (CentrixDTS™) Fraud Alerts module,
an add-on to the case management and Regulation E compliance
platform financial institutions use for both fraud and non-fraud
transaction disputes.
Financial institutions of all sizes are challenged daily with
the increase of fraudulent activity and continually struggle to
track and report escalating fraud claims that are associated with
specific debit card breaches. The Fraud Alerts module builds on the
existing capability of CentrixDTS™ and empowers FIs to quickly and
accurately measure the financial impact of a card breach and
streamline the back office management and labor-intensive processes
of managing transaction disputes.
“Far too many institutions are simply unable to quantify the
impact of card breaches. It’s guesswork at best,” said Tim
Kindschuh, CentrixDTS™ product manager. “When combined with the
automated tracking capability of CentrixDTS™, the Fraud Alerts
module eliminates the uncertainty by offering significantly
improved efficiencies in tracking and reporting disputed
activity.”
By processing the compromised files that credit card companies
provide to financial institutions after a data breach, the Fraud
Alerts module is able to automatically associate each fraud claim
with the corresponding card breach. The online reporting provides
transparency into the financial impact of the breach, including
high-level summary reporting and detailed statistics.
"In the current landscape of card breaches and fraudulent
transactions, this integration helps us identify compromised
information much more quickly,” said Cheryl Brown, vice president
of operations and program management at the $1.6 billion-asset Gesa
Credit Union. “Fraud Alerts will not only allow us to minimize the
dollars lost for the credit union, but will save hours of time for
members and staff in completing claims."
CentrixDTS™ is a product of Centrix Solutions, a Q2 company.
Centrix’s products are designed to empower FIs with products and
services to help detect fraud, manage risk and simplify compliance.
For more information on CentrixDTS™, visit
www.q2ebanking.com/centrix, or visit www.centrixsolutions.com.
About Q2 Holdings, Inc.
Q2 Holdings, Inc. (Q2) is a leading provider of secure,
cloud-based digital banking solutions headquartered in Austin,
Texas. Q2 is driven by a culture of partnership and dedication
to empowering community-focused banks and credit unions with
digital banking solutions that help them stand apart, scale
smart and grow beyond with retail and commercial
account holders. Q2’s solutions are designed to deliver a
compelling, secure and consistent user experience on any
device and enable customers to improve account holder retention and
to create incremental sales opportunities. To learn more about
Q2, visit www.q2ebanking.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20161011005505/en/
Red Fan CommunicationsEmma Chase, 512-551-9253Cell:
512-917-4319emma@redfancommunications.com
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