Indian Overseas Bank (IOB) is planning to offer unprecedented levels of real-time protection and greater security for Visa cardholders by adopting Visa’s real-time fraud detection solutions. This initiative will make all its ATMs, point of sale and Internet transactions foolproof.
This move will help customers with the Advanced Authorisation and Visa Risk Manager, which creates a safe experience while using their cards by offering comprehensive fraud prevention to financial institutions. Visa Advanced Authorization can analyze and risk score a transaction in less than two seconds, for the card-issuing financial institution with unprecedented accuracy. Visa Risk Manager allows issuers to streamline decision-making, so they can turn that insight into action. This remarkable speed and clarity allows issuers to prevent fraud from occurring in the first place.
