This curation of analytical and management software solutions ensures we compile the data necessary to detect, investigate and inform members about fraudulent transactions while minimizing inconvenience.
Co-op's Fraud Detection Agents experts use solutions such as:
- Co-op Cooper Fraud Analyzer which opens a case for further investigation when a transaction is flagged as suspicious. The disposition of the transaction is recorded, so Co-op Cooper can learn from the experience, adding yet another layer of intelligence to the system.
- Transaction and account-based fraud case management and reconciliation.
Additionally, the cardholder is engaged in mobile resolution efforts as well. Credit unions can can empower members with card controls and alerts, making them a first line of defense against fraud. Solutions include:
- CardNav® by Co-op – Transaction-level alerts and controls empower members to decide when, where and how their cards are used – in advance and in real time. This inspires member confidence, increases member engagement with the mobile channel and helps your credit union meet its digital strategy.
- Fraud Alerts – Two-way member correspondence via text, email or voice confirms or denies suspicious transactions. If the member does not recognize the transaction, the card will be blocked and the lost/stolen process will be initiated. A similar process is enabled for voice alerts that are responded to and resolved by our fraud management experts.