JACKSONVILLE & CLEARWATER, Fla. — Fidelity National Information Systems and Card Services for Credit Unions have partnered to roll out a new card fraud protection tool.
FIS provides the card platform for over 4,000 credit unions nationwide, and Card Services for Credit Unions is the association of credit unions that process card transactions with FIS.
"We know that plastic card fraud is a growing concern, but we also know that fraud is manageable and that credit cards still have the highest return on assets of any loan opportunity for credit unions," said Robert Hackney, CSCU president.
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The new tool, called COMPROMISE MANAGER, will allow CUs that use it to have greater and easier control over card account blocking, cut losses through increased monitoring and blocking abilities and knock down the reduce administrative costs of card fraud monitoring.
"With all the cardholder data right in front of me on COMPROMISE MANAGER, I now am able to easily select those accounts truly at risk," said Jeanifer King, card services coordinator of OBEE Federal Credit Union in Tumwater, Wash. "It is extremely convenient and easy to use, and it eliminates lots of keystrokes."
"Fraud prevention is becoming a critical focus at smaller financial institutions," said Tony Ficarra, executive vice president of e-Business Services for FIS' Integrated Financial Solutions division. "FIS gives small to midsized financial institutions the leverage they need to offer credit and debit cards without the risk."
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