Technology and services developed by a Dublin-headquartered company are to be used by the Bank of Scotland to combat customer-not-present fraud amongst its e-commerce merchant customers, siliconrepublic.com has learned.
Data-sharing technology by Ethoca, which also has offices in Canada, will be used by Bank of Scotland as part of its range of customer-not-present fraud management tools.
Bank of Scotland will offer Ethoca’s data-sharing service to its global list of e-commerce customers.
Merchants already using the bank’s PaymentTrust for payment or fraud management-related services will have access to the technology through their existing integration.
Bank of Scotland expects the move will attract additional merchants to its fold.
Dublin-based Ethoca enables businesses operating in any customer-not-present environment – such as by phone, internet, fax or mail – to make informed decisions about their customers through sharing data.
Businesses submit transactional data to Ethoca and in return receive summary history and analysis based on the collective data of Ethoca’s other clients. This enables merchants to assess the fraud risk of potential clients.
Ethoca uses independent third-party business process and data integrity audits to ensure the privacy and security of the data is maintained.
“Merchants and payment service providers have trusted RBS and its group of companies for years,” said Andre Edelbrock, Ethoca’s president and CEO.
“At Ethoca, we are committed to eliminating unwanted transactions through ethical data sharing and rigorous compliance programs. More and more global businesses are recognising the significant benefits of data sharing to manage fraud and improve profitability,” Edelbrock added.
By John Kennedy