Global payments processor Thredd introduced ‘One View’, a fraud solution developed in collaboration with Featurespace, a Visa solution. The platform is designed to monitor both card and non-card transactions through a single, network-agnostic interface and rules engine to enhance fraud detection.
‘One View’ was developed to consolidate card and non-card payment data, such as account-to-account (A2A) and person-to-person (P2P) payments, into a unified interface. According to the companies, this provides a 360-degree view of customer behaviour, enabling more effective fraud detection while reducing the operational workload for fraud teams.
A unified interface for fraud detection
The solution is intended to eliminate the need for fraud analysts to log into and manage separate systems for card and non-card payments. By providing a single interface with consistent workflows, fraud teams can streamline their investigation processes, reduce the time spent switching between different systems, and cut down resolution times.
“For the first time, fintechs, banks and other organizations involved in payments processing can benefit from streamlined processes which enable them to fully utilize payment data to boost fraud detection and make the world a safer place to transact,” said Jason Blackhurst, global head of Featurespace and acceptance risk solutions at Visa. “Clients choosing the new solution also benefit from Thredd’s differentiated expertise and in-house services in integrating and optimizing the solution,” he added.
Holistic view and self-resolving alerts
The platform’s unified view allows fraud teams to spot unusual behaviour patterns that might not be flagged when transaction types are monitored in isolated systems. The solution also includes an option for self-resolving alerts, which can be sent directly to customers to enable them to approve or decline transactions themselves.
“Now fraud teams can spot unusual behavior patterns that might not be flagged in isolated systems, and choose to equip themselves with self-resolving alerts that can be sent directly to customers, enabling them to approve or decline transactions themselves,” said Anthony Gudgeon, head of fraud operations at Thredd. “As a result, clients reduce their customer service workload and can eliminate the need for 24/7 manual monitoring,” he said.
The API-first, plug-and-play solution is designed for quick implementation and can be deployed either as a replacement for legacy fraud systems or as an augmentation layer across both card and payment environments. The companies stated this helps to balance effective fraud detection with a positive customer experience by minimising false positives.
Featurespace, a Visa solution, uses artificial intelligence and machine learning to help financial institutions identify and prevent fraud and financial crime. Its ARIC™ Risk Hub is designed to adapt in real-time to identify abnormal behaviour and reduce errors. Thredd is a next-generation global payments processor serving over 100 fintechs and digital banks across 47 countries.
