CUSO uses Linked Analysis to contribute to $200 million in annual fraud thwarted
PSCU, the nation’s premier payments CUSO, now has another weapon to help it predict and defend against fraud: Linked Analysis enables PSCU to look at the connection between accounts in an effort to identify fraud before it occurs. The company has seen an exponential month-to-month increase in fraud blocked since it launched Linked Analysis in April.
Linked Analysis uses cross-network analytics to create a 360° view of a member, enabling PSCU to link events across different platforms, individuals across different institutions, merchants across any card, and all of these points to each other. Using these connections, data scientists at PSCU then utilize research and machine learning to proactively take action.
“The most recent addition to our integrated suite of fraud offerings, Linked Analysis allows us to provide comprehensive, integrated fraud protection across channels, rapidly identifying linkages, compromises, breaches and common points of purchase,” said Jack Lynch, Chief Risk Officer at PSCU. “By using shared intelligence to predict and defend against fraud, we are enabling a greater member experience for our Owners.”
Read more on PSCU Adds Weapon to Fraud-Fighting Arsenal, Proactively Predicting and Preventing Fraud Before It Occurs…
Data-Driven Fraud Mitigation Tool to be Introduced as Security Benefit of CO-OP Shared Branching
CO-OP Financial Services has launched COOPER Fraud Analyzer, its advanced data-driven fraud mitigation tool, into pilot testing with four participating credit unions in the CO-OP Shared Branch network.
“It is CO-OP’s job to make sure that our clients have access to the best technology to combat fraud and protect their members,” said Todd Clark, President/CEO of CO-OP. “We believe the most effective answer lies in developing a machine learning and artificial intelligence solution that we can bring to our credit unions at scale. The launch of COOPER Fraud Analyzer into client testing marks a major milestone in the evolution of CO-OP as a financial technology provider, and it is particularly significant in that we are first providing this tool to one of the industry’s most valuable assets, the CO-OP Shared Branch network.”
Read more on CO-OP FINANCIAL SERVICES LAUNCHES COOPER FRAUD ANALYZER INTO PILOT TESTING…
CU*Answers, a 100% credit union-owned cooperative CUSO, announced the introduction of Project Team Communication and Coordination Services, a new offering available to all credit unions designed to help busy project managers with the difficult task of project administration. The service, led by industry veteran Alycia Meyers, will assist credit unions in the organizational tracking of “where are we and what is next in delivering on the goals to complete and make projects successful.”
Read more on CU*Answers introduces new service to credit unions for project team communication and coordination…
Solution empowers members to personalize and secure payments across digital channels
PSCU, the nation’s premier payments credit union service organization (CUSO), has partnered with Ondot, the global leader in mobile payments services, to further enhance the credit union member experience through a comprehensive Alerts and Controls solution.
Read more on PSCU Partners with Ondot to Enhance the Member Experience Through Robust Card Alerts and Controls Solution…
CU*SOUTH, a credit union service organization, announced that the CU-owned CUSO has closed its conversion calendar for 2018 with a record-setting thirteen core conversions.
“More and more credit unions are opting for the agility and security of a cloud-based core platform,” said Starla Honea, VP of operations at CU*SOUTH. “They’re leaving the old legacy systems operated by the ‘Big-4’ banking software vendors and taking control of their future through ownership and collaboration with their peers.”
Read more on CU*SOUTH closes 2018 core conversion calendar with a record year…