Compass Plus to drive fraud detection services for Liberty Bank

Source: IBS Intelligence 2020-05-29

Compass Plus announced today that Tbilisi-based Liberty Bank has selected the

former’s solutions for launching a new fraud detection and prevention system to address the rise in fraudulent activities. Post-implementation, the Bank will be able to monitor and act on activities that are considered suspicious as well as reduce risks related to frauds.

“The partnership between Liberty Bank and Compass Plus began in 2005, and the implementation of this project has, once again, demonstrated the flexibility of Compass Plus’ software and its ability to meet the latest industry requirements and trends. With the help of our new fraud detection and prevention system, we are able to combat fraud on a brand new level – not only can we promptly respond to any potential threats, but also prevent suspicious transactions, making our card products convenient and safe for customers,” said Levan Tkhelidze, Deputy Director General at Liberty Bank.

Compass Plus states that its solution allows for the quick creation of algorithms to detect and prevent suspicious transactions. It also integrates the solution within the partner company’s existing infrastructure.

Recently, Compass Plus announced that Unibank, an Azerbaijan-based bank has connected its in-house processing directly to Mastercard, thus completing the second phase of migration to the company’s open development payments platform, TranzAxis.

“Our long-term partnership with Liberty Bank is important for us, and for them to choose our software to build their fraud strategy around showcases not only the strength of our relationship but the reliability and robustness of our solutions. This project has once again confirmed that Compass Plus solutions meet the advanced industry standards and correspond to market conditions, in which the volume of card fraud is constantly growing, and methods used by fraudsters are becoming increasingly complex,” said Dmitry Lenshin, AVP & Regional Business Development Director at Compass Plus

Compass Plus to drive fraud detection services for Liberty Bank

Subscribe to Our Newsletter!

Subscribe to Our Newsletter!