Logica has launched a new solution which allows financial institutions to alert cardholders via text message of all suspect card transactions, anywhere in the world.
Logica's C-TAS solution works by picking up exceptions issued from the card issuers fraud management systems or through the alert parameters predefined by the consumer. When one of these parameters is breached an SMS text alert is sent asking the consumer to respond immediately to the card issuer and verify a transaction as valid or fraudulent.
The system is integrated with the company's Global Interconnect Network which provides messaging interoperability between mobile carriers across the globe.
Nick Baines, director of Logica's international retail financial business, says: "Real time SMS alerts to consumers via their mobile phones or other wireless devices will help combat against growing card fraud and enable the card issuer to have a more interactive service relationship with customers."
Logica says the solution will reduce fraud and lower the administration costs of dealing with fraud enquiries.