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SoundBite Introduces New Fraud Management Solution For Card Issuing Banks

SoundBite Communications has introduced SoundBite Fraud Management Solution (FMS), a real-time, multi-channel fraud resolution solution for card issuing banks.

With SoundBite FMS, card issuers can design interactive text, voice and email messaging strategies to automate card fraud resolution in a cost-effective manner. SoundBite’s Real-Time Fraud Module, a key element of the FMS, enables card issuers to integrate with any fraud detection or case management system. This integration triggers immediate multi-channel cardholder communications to accelerate card fraud resolution.

With the SoundBite FMS, when the card issuer’s fraud detection engine detects potential fraud it could automatically trigger SoundBite’s multi-channel platform to send a text message to the cardholder’s mobile phone. The cardholder can approve the transaction with a text message response and SoundBite updates the account status in real-time. In the event the cardholder refutes the transaction, SoundBite will immediately connect the cardholder to a fraud specialist.

Mark Friedman, chief marketing and business development officer for SoundBite Communications, said: “Our research has shown that helping cardholders promptly resolve fraudulent issues has a positive impact on customer satisfaction. SoundBite FMS leverages cardholder communication preferences to enable banks to resolve fraud more quickly and efficiently while improving cardholder loyalty.”