BUSINESS OVERVIEW It’s a common challenge for financial institutions and consumers alike: how to reduce the risk of credit card fraud. The rate of credit card fraud is skyrocketing in the United States, with 31.8 million consumers impacted by fraudulent charges annually. Nearly 90 percent of those victims are sent replacement credit cards, costing issuers as much as $12.75 per card, along with additional time and resources spent supporting those consumers. One of the nation’s largest banks sought to expand the range of its fraud verification and notification program by proactively flagging potentially fraudulent charges. Customers are notified in near real-time of potential suspicious account activity and asked to verify their purchases. The bank’s goal: automatically presc

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