Marqeta Launches RiskControl Solution for Card Issuing Platform
Marqeta (NASDAQ: MQ), the global modern card issuing platform, today announced its new RiskControl solution, a comprehensive product suite to help its customers better optimize their card programs and take control of end-to-end risk management.
RiskControl is designed to provide Marqeta's customers with comprehensive risk, compliance, and fraud management capabilities across the cardholder lifecycle, allowing them to focus on their business growth. RiskControl is anchored by the introduction of a powerful new fraud mitigation solution - Real-Time Decisioning - enabling card programs to develop fine-tuned transaction controls and help limit payment fraud. Additionally, RiskControl includes newly enhanced versions of Marqeta's Know Your Customer (KYC) and Disputes products, alongside its previously announced 3D Secure.
"When we talk to our customers, the threat of payment fraud comes up consistently as one of their biggest business concerns. We're seeing fraud increases worldwide weigh heavily on card issuers and processors, intensifying the need to offer highly effective risk and fraud management solutions that are tailored to individual cardholder experiences," said Randy Kern, Chief Technology Officer of Marqeta. "Marqeta's deep expertise in issuing helps us provide a unique, end-to-end fraud and risk management solution that is specifically tailored to card issuing transaction data. We're putting the technology in our customers' hands, unlocking their potential growth by proactively protecting them against the growing risk of fraud."
Marqeta customers already using RiskControl include Klarna, Yonder and Branch. The core products in RiskControl - KYC, Real-Time Decisioning, 3D Secure, and Disputes - are designed to manage risk and compliance across the entire cardholder lifecycle, starting with customer onboarding and KYC, to payment transactions, through to the management of disputes.
Marqeta's data-driven RiskControl offering enables users to take their risk management to the next level. Its customers will have full control of the card program by gaining real-time insights and building controls tailored to cardholders. RiskControl aims to overhaul the old-fashioned way of doing risk management and implement an innovative, all-in-one solution built for risk teams managing card programs.
"Marqeta's Real-Time Decisioning solution is an important tool in helping us to stay ahead of potential fraud concerns," said Theso Jivajirajah, Chief Risk Officer of Yonder. "We've already seen how Marqeta's flexible controls have helped us fight against fraudulent transactions before they happen, giving our customers a better experience."
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