Card Communication Manager

Promote Confidence, Lower Fraud, Push Contextual Offers

Want to make cardholders feel safer about using their cards?  Interested in decreasing fraud?  Looking for ways to offer services when the need is greatest?

Issuers know that the cost of fraud extends beyond the amounts paid to compensate victims.  Fraud increases consumer concerns about the safety of their personal and account information.  These concerns make cardholder less willing to use their credit and debit cards to make the purchases.

Issuers using the Ondot's extensible API-driven, service-oriented platform can deploy our Card Communication Manager making it possible to utilize proactive, contextual, real-time, two-way alerting to mitigate these cardholder concerns while lowering fraud and providing contextual offers when they are most urgently needed.

Card Communication Manager allows issuers to notify cardholders when suspicious transactions are detected, allowing consumers to participate successfully limiting fraud's impact on their lives.  Empowering cardholders in this way makes them more confident that using their credit and debit cards is not a risky proposition.  This rise in consumer confidence increases card use and the value of an issuer's card portfolio.

Card Communication Manager allows financial institutions to initiate timely notifications to cardholders regarding suspicious transactions as they occur.  Here how it works:

  1. When an issuer's fraud engine identifies suspicious activity, a push notification alert is delivered to the cardholder's phone.
  2. Once the cardholder receives the alert and views the transaction, an option to verify if it is fraudulent is provided.
  3. The cardholder's response is sent to the issuer's fraud engine and the appropriate action determined by the rules in place. 

The fraud alert message remains in the app in case the cardholder didn't respond to the push notification alert.

The benefits of the Card Communication Manager include:

  • Higher Card Usage. Surveys show instant engagement results in cardholders being more likely to make those cards top-of-wallet. For issuers, top-of-wallet positioning drives higher card usage which increases both interchange and interest revenues.
  • Reduced False Declines. Two-way communication provides a tool that allows the financial institution to take action based on user response, rather than declining the suspected transactions with less information. This helps reduce the number of false declines and improves cardholder satisfaction.
  • Improved Fraud Detection. By continually analyzing and incorporating the results of two-way fraud alerts, issuers can better calibrate their fraud analytics to improve accuracy.
  • Increased Cost Effectiveness. By providing a real-time way to interact with cardholders through the mobile app, financial institutions avoid having to add expensive fraud management support staff. Fraud specialists can spend their valuable time on other mission-critical and support activities.
  • Differentiated Solution. Allows an issuers card to stand out from the crowd by directly engaging cardholders in a real-time, proactive conversations that have a material impact on their lives. This makes cardholders feel more certain that the issuer has their best interests in mind.
  • Increased Cross-Sell and Up-Sell Opportunities. Contextual two-way alerting can be used to present offers to cardholders at a time of acute need; e.g., a debit card transaction not approved due to insufficient funds.  In this situation, a financial institution can push a notice to the cardholder offering overdraft protection that would allow the transaction to be approved.

Built to utilize the full power of the Ondot mobile card services platform, Card Communication Manager complements existing fraud scoring systems to stop fraud in flight, thereby increasing cardholder confidence about the safety of using their cards.  In addition, the two-way messaging capabilities of this module allow financial institutions to offer value-added services when they are needed most.

These capabilities, and the others provided by Ondot's comprehensive set of mobile card services, are used by more financial institutions worldwide than any other solution.