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UK building society Nationwide has updated its security checks for e-commerce transactions to make it easier for shoppers to complete pay through websites.
Nationwide has deployed CA Technology’s payment security as part of a new multi-layered approach to securing online transactions.
The CA software is being used to help Nationwide accurately identify verified cardholders in real-time, which will enable Nationwide to reduce the cost of credit and debit card operations.
Paul Horlock, Nationwide’s head of payments, said: “We have Verify by Visa for securing card not present payments, but we are always looking to improve security and alternative suppliers.”
The building society wanted to make e-commerce payments more seamless for its customers. “The benefit is all about customer experience. Most merchants find payment very complicated. With Verify by Visa, the customer needs to remember an additional password,” said Horlock.
To boost security in transactions when the customer’s credit or debit card is not present, the software provides a set of rules to assess what is normal behaviour in terms of payment transactions on a customer’s account. This is used to double check the customer.
Nationwide switched over to the CA software CA risk analytics over the course of a weekend. The new approach enables the building society to assess the fraud risk of an online transaction in real-time during authentication.
This works by examining current and past transactions, device characteristics, location, user behaviour and historical fraud data to evaluate risk.
The calculated risk score is then used to decide whether to allow the purchase, request strong authentication, send an alert or deny the purchase.
According to Nationwide, by easily identifying legitimate transactions, the majority of cardholders are able to continue their purchase without impact – enhancing the service experience. Operational costs are also reduced with fewer enquiries coming into Nationwide call centres.
From a customer experience perspective, Horlock said: “We can challenge customers less, but can provide more security.”
As Computer Weekly previously reported, Nationwide recently began looking at how behavioural biometrics could be used to improve mobile banking security.
Matthew Sparkes, commercial manager at Nationwide, said: “By adding advanced analytics to the next generation of our digital verification process, 3-D Secure, Nationwide has the flexibility and control to make even the most complex transactions seamless and secure.
“CA’s payment security systems help us identify fraud more effectively, while improving the customer experience and delivering the insight we need to understand customers better and to drive business growth.”