NEW YORK - CashEdge Inc., provider of online fund transfers and online accounts, announced its enhanced risk-monitoring service at BAI's Retail Delivery conference. CashEdge's risk-monitoring service will be highlighted as a "BAI Innovation Moment" and presented as a downloadable podcast from the BAI home page.
BAI Innovation Moments highlight new technologies, processes and services defining innovation in the financial services industry. These products and services are selected from submissions received as part of the innovation moments showcase at BAI Retail and Delivery.
CashEdge's model evaluates transaction risk probability based on a set of monitoring criteria. Transactions are run through an automated scoring and rules engine, and queued in order of their assigned risk score. Suspicious transactions are investigated by fraud identification experts to determine and confirm account and transaction legitimacy.
"Right from the start, CashEdge recognized that effective management of risk was essential to unleashing the power of online money movement. Over the last eight years, we have dedicated more time and accumulated more expertise in how to manage risk and prevent fraud than any technology company in the industry," said Amir Sunderji, vice president of risk management and payment operations at CashEdge. "Today, online transactions are more popular than ever and billions of dollars are transferred daily. As transaction volumes have increased, so has the risk of fraud and the appeal to criminals."
