News

FIS, CSCU team up to extend fraud protection solution to CUs

Compromise Manager promises timely card blocking, reduced administration costs, and automated cardholder alerts for small and midsize credit unions.

October 28, 2014

Card Services for Credit Unions, a card processing association serving more than 3,200 member CUs, and FIS have partnered to offer Compromise Manager, a new card fraud solution from FIS.

"We know that plastic card fraud is a growing concern, but we also know that fraud is manageable and that credit cards still have the highest return on assets of any loan opportunity for credit unions," said CSCU President Robert Hackney.

An FIS news release said that Compromise Manager offers a complete package for managing accounts, including the ability to:

• delay blocks, or specify a date to begin blocking;
• mitigate losses through timely blocking, communication and monitoring;
• reduce the administrative costs of staffing for larger events;
• enable easy account actions online — or offline with data mining; and
• automate compromise notifications to cardholders.

These features can be integrated easily with other systems, for convenient and efficient operation, the release said.

"Fraud prevention is becoming a critical focus at smaller financial institutions," said Tony Ficarra, EVP of e-business services for FIS integrated financial solutions. "FIS gives small to midsized financial institutions the leverage they need to offer credit and debit cards without the risk."