PSCU Co-op Solutions
ST. PETERSBURG, Fla. — PSCU/Co-op Solutions said the company has kicked off a multi-year initiative to “further evolve” its Linked Analysis platform, including adding cloud migration and enhanced artificial intelligence (AI) capabilities.
PSCU/Co-op said the next generation of Linked Analysis will ultimately create an omni-channel fraud prevention experience for credit unions and their members.
“The fraud landscape continues to evolve rapidly and now includes data mining, AI and robotics. Adoption of advanced technology and automation has rapidly accelerated in recent years as organizations work diligently to protect against increasingly sophisticated fraudsters,” the company said. “In executing its ongoing strategy to deliver secure, omni-channel fraud prevention powered by data and service, PSCU/Co-op-Solutions will continue to enrich every experience for its credit unions and their members.”
Initial Deployment
According to the CUSO, initial deployment of the next generation of Linked Analysis, which is expected over the next 12 months, will focus on:
- Migration to a cloud-based platform to allow for easier data integration and expansion
- Integration of industry-tested machine learning models to run alongside PSCU/Co-op Solutions-developed models
- Ability to develop API calls that integrate with both credit union and member engagement portals
- Fraud engagement and enhanced mitigation for 3D Secure authentications
Fewer ‘Tough Decisions’
“While the fraud prevention tools many credit unions are currently using stop a considerable amount of fraud, they often risk member disruption or taking on additional losses,” said Karen Postma, senior vice president, risk solutions at PSCU/Co-op Solutions. “Imagine a world in which you don’t have to make those tough decisions as often, where technology knows your members just as well as you do, and where the data is so vast it allows you to enhance the member experience rather than disrupt it. That is exactly where we are headed with the new generation of Linked Analysis.”
About the Solution
The company said Linked Analysis currently uses cross-network analytics to create a 360° view of a member, enabling PSCU/Co-op Solutions 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, a talented team of data scientists then utilizes research and machine learning to proactively take action, taking data from multiple sources and connecting the dots between product usage,” PSCU/Co-op Solutions said.
Looking Forward
Looking further ahead, PSCU/Co-op Solutions said it will be able to in-source back-end fraud platforms, which will allow for the autonomy of the platform and integration points.
The company said future initiatives will include:
- Consolidated fraud detection case management across channels (digital, 3D Secure, tokenization, etc.)
- Authentication, unification and digitization
- Expanded services with strategic partners
PSCU/Co-op Solutions said attendees at this year’s Member Forum in San Antonio will be able to learn more about the next generation of Linked Analysis during a breakout session, “The Future of the Fraud Experience,” on Friday, April 12 at 3 p.m. CT.
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