Apoorv Anupam
20 March 2019, India:
Global payments technology company FSS (Financial Software and Systems), has launched FSS Secure3D, its new-generation adaptive authentication solution based on the EMVCo 3DS 2.0 protocol.
FSS Secure3D extends a frictionless approach to authenticate cardholders and to safeguard customers against fraud.
The solution deploys advanced machine learning algorithms to learn customer transaction behavior to detect anomalous transactions and continually adjust risk controls in line with evolving fraud patterns.
Issuers can use a combination of variables including merchant, cardholder, device, location and transaction related parameters to risk score each transaction and determine if it was initiated by a legitimate cardholder.
For suspect transactions, FSS Secure3D supports a range of stepped-up verification measures including out-of-band authentication such as one-time passcodes, as well as biometrics including facial and fingerprint recognition.
This offers flexibility to issuers to extend the authentication process to emerging transaction touchpoints including wearables and IOT devices.
Suresh Rajagopalan, President Retail Payments, FSS, said, “Secure and seamless transaction journeys are a strategic differentiator for new-age commerce. FSS Secure3D improves risk-based decisioning capabilities and enables issuers find the sweet spot between strengthening anti-fraud measures and delivering frictionless transaction experiences. The fact that FSS is among the first few service providers globally to achieve EMVCo certification reflects our product leadership position in the space.”
FSS offers Authentication As-a-Service on FSSNeT, FSS private cloud, exposing APIs to acquirers to connect to the platform.
A multi-tenanted solution provides added protection, as insights into fraud patterns can be shared among participant customers.
FSS supports EMVCO 3DS 1.0 and 2.0 protocols. Customers with existing solutions can seamlessly migrate to 3DS 2.0.
(Image – FSS)