FSS launches Secure3D risk-based authentication for online transactions

Financial Software and Systems, a digital payment and financial technology company, has launched FSS Secure3D, a new-generation adaptive authentication solution based on the EMVCo 3DS 2.0 protocol.

According to a press release, FSS Secure3D deploys advanced machine learning algorithms to learn customer transaction behavior, detect anomalous transactions and continually adjust risk controls in line with evolving fraud patterns.

Issuers can use a combination of variables – i.e., merchant, cardholder, device, location – and transaction-related parameters to risk score each transaction and determine whether it was initiated by a legitimate cardholder.

For suspect transactions, FSS Secure3D supports a range of stepped-up verification measures, as well.

«FSS Secure3D improves risk-based decisioning capabilities and enables issuers find the sweet spot between strengthening anti-fraud measures and delivering frictionless transaction experiences,» Suresh Rajagopalan, president of retail payments at FSS, said in the release. «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 is working with Visa, MasterCard, AMEX, and major card schemes to offer 3DS 2.0, the release said.

Source: ATM Marketplace