DES MOINES, Iowa—The Members Group has announced the availability of what it is calling a “highly targeted fraud scoring solution” now available to its MasterCard-issuing credit unions.
The solution, called MasterCard Expert Monitoring, provides issuers with cardholder fraud scores in real-time as credit and debit cards are swiped. TMG said MasterCard Expert Monitoring leverages predictive fraud models and MasterCard’s vast repository of global authorization and fraud data to detect fraud patterns quickly and effectively.
Most importantly, fraud scores are generated in real-time during authorization so fraud attempts can be stopped right at the point of sale. The solution continually learns and adjusts to new fraud trends and schemes—key for U.S. issuers fighting off shape-shifting threats from sophisticated domestic and international fraudsters.
“In anticipation of sweeping changes to the U.S. payments system, fraudsters are incorporating more data into their schemes to allow the fraud to blend with true cardholder spend,” said Karen Postma, TMG’s AVP of fraud operations, in reference to the U.S. migration to EMV chip cards. “The financial institutions that issue credit and debit cards understand the seriousness of the threat and are turning to TMG for assistance. We are working closely with our strategic partners like MasterCard to offer the very best in payment transaction monitoring to detect and stop fraud as it happens.”