Tieto ensures MilliKart Group payment protection with fraud management solution
Tieto has provided MilliKart Group with a Card Suite Fraud Management solution in order to secure the company’s payment card operations. The solution consists of online fraud prevention and offline fraud detection parts that ensure adequate monitoring and proactive protection against suspicious activities of cardholders and merchants. Furthermore, the deal includes an e-commerce fraud prevention solution.
MilliKart is one of the fastest growing, cutting edge technology companies providing payment card operations in the Caucasus region. For MilliKart Group as a serious and reliable market player, security is a very important aspect of providing high quality and valued services. After a pilot phase of testing the Card Suite Fraud Management solution, MilliKart was able to fully fulfill its customer requirements and needs related to payment protection, and obtained the full Fraud Management solution from Tieto.
Card Suite Fraud Management identifies and adapts to new types of fraud by implementing new rules and changing existing ones when needed. It supports automated monitoring that leads to efficiency and resource optimization. The powerful rule engine allows organizations to define and tailor rules in more general business language, meaning that no extensive IT knowledge is required. The system also enables organizations to gather statistics and validate fraudulent case scenarios. Moreover, Tieto offers an e-commerce fraud prevention solution ensuring cardholder fund protection in the card-not-present environment.
“With our fraud management solution, MilliKart Group can now not only fulfill the requirements of international payment organizations, but also prevent the company from financial and reputational losses, thereby increasing customer trust and loyalty,” comments Maris Ozolins, Director of Cards, Tieto Financial Services.
“With this type of fraud management solution, we will be able to compete with other numerous solutions in the market and gain long-term favorable positioning in fraud management for card payments in the banking industry,” says Jalal Orujov, Executive Director, MilliKart Group.
More information about Tieto’s fraud management solutions is available at tieto.com.
For further information, please contact:
Maris Ozolins, Director of Cards, Tieto Financial Services, phone +371 6751 0000
Jalal Orujov, Executive Director, MilliKart Group, phone +994 12 431 22 20
Tieto is the largest Nordic IT services company providing full life-cycle services for both the private and public sectors and product development services in the field of communications and embedded technologies. The company has global presence through its product development business and global delivery centres. Tieto is committed to developing enterprises and society through IT by realizing new opportunities in customers’ business transformation. At Tieto, we believe in professional development and results.
Founded 1968, headquartered in Helsinki, Finland and with approximately 17 000 experts, the company operates in over 20 countries with net sales of approximately EUR 1.8 billion. Tieto’s shares are listed on NASDAQ OMX in Helsinki and Stockholm. Please visit www.tieto.com for more information.
MilliKart Group is one of the fastest growing, cutting edge technology companies in the Caucasus region. Under the core parent brand MilliKart Group three activity directions, M+assist, M+money and M+thinking, are consolidated. Services rendered by MilliKart Group are personalization of payment cards, processing services for card payments, security of card payments, support of card accounts, provision of ATMs, POS terminals and other equipment, printing PIN envelopes, provision of acceptance of card payments through ATMs, POS terminals, and other equipment, the provision of “Call Center” services to clients for 7 days 24 hours and numerous other services. In addition to these services, MilliKart Group provides consulting services in IT and is active in areas such as training programs, project management, software development and integration. Please visit http://millikart.az for more information.
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.