PSCU/Co-op Solutions Announces Next Generation of Linked Analysis Fraud Prevention and Detection Capabilities
PSCU/Co-op Solutions, the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider, has kicked off a multi-year initiative to further evolve its industry-leading Linked Analysis platform, including adding cloud migration and enhanced artificial intelligence (AI) capabilities. The next generation of Linked Analysis will ultimately create an omni-channel fraud prevention experience for credit unions and their members.
The fraud landscape continues to evolve rapidly and now includes data mining, AI and robotics. Adoption of advanced technology and automation has rapidly accelerated in recent years as organizations work diligently to protect against increasingly sophisticated fraudsters. In executing its ongoing strategy to deliver secure, omni-channel fraud prevention powered by data and service, PSCU/Co-op-Solutions will continue to enrich every experience for its credit unions and their members.
Initial deployment of the next generation of Linked Analysis, which is expected over the next 12 months, focuses on:
- Migration to a cloud-based platform to allow for easier data integration and expansion
- Integration of industry-tested machine learning models to run alongside PSCU/Co-op Solutions-developed models
- Ability to develop API calls that integrate with both credit union and member engagement portals
- Fraud engagement and enhanced mitigation for 3D Secure authentications
“While the fraud prevention tools many credit unions are currently using stop a considerable amount of fraud, they often risk member disruption or taking on additional losses,” said Karen Postma, senior vice president, Risk Solutions at PSCU/Co-op Solutions. “Imagine a world in which you don’t have to make those tough decisions as often, where technology knows your members just as well as you do, and where the data is so vast it allows you to enhance the member experience rather than disrupt it. That is exactly where we are headed with the new generation of Linked Analysis.”
Linked Analysis currently uses cross-network analytics to create a 360° view of a member, enabling PSCU/Co-op Solutions to link events across different platforms, individuals across different institutions, merchants across any card – and all of these points to each other. Using these connections, a talented team of data scientists then utilizes research and machine learning to proactively take action, taking data from multiple sources and connecting the dots between product usage.
Looking further ahead, PSCU/Co-op Solutions will be able to in-source back-end fraud platforms, which will allow for the autonomy of the platform and integration points. Future initiatives will include:
- Consolidated fraud detection case management across channels (digital, 3D Secure, tokentization, etc.)
- Authentication, unification and digitization
- Expanded services with strategic partners
“As PSCU/Co-op Solutions continues to deliver industry-leading fraud offerings, cloud migration, AI and enhanced data integrations will exponentially increase our ability to support credit union security and growth,” added Postma.
Attendees at this year’s Member Forum in San Antonio, Texas can learn more about the next generation of Linked Analysis during a breakout session, “The Future of the Fraud Experience,” on Friday, April 12 at 3 p.m. CT.
About PSCU/Co-op Solutions
PSCU/Co-op Solutions is the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider. With over four decades of industry experience and a commitment to service excellence and innovation, the company serves more than 4,000 financial institutions throughout North America. PSCU/Co-op Solutions leverages its expertise and resources on behalf of credit unions and their members, offering an end-to-end product portfolio that includes payment processing, fraud and risk management, data and analytics, digital banking, instant payments, strategic consulting, collections, ATM and POS networks, shared branching and 24/7/365 member support via its contact centers. For more information, visit pscu.com and coop.org.
