WNS Partners with Accertify® to Provide Fraud Prevention Solutions
Chicago - July 29, 2008
WNS (Holdings) Limited (NYSE: WNS), a leading provider of global business process outsourcing (BPO) services, today announced it has formed a strategic alliance with Accertify®, a provider of leading-edge fraud prevention solutions to online retailers. The alliance provides deep process management expertise in travel with state-of-the-art online fraud detection technology.
While the travel industry has enhanced their online booking capabilities, exposure to fraud is a major concern, costing the industry an estimated $600 million a year. More than a third of airlines have been hit by credit card fraud, which accounts for around 60 percent of all external fraud-related losses. This partnership brings together Accertify's Interceptas®, which sorts through suspicious transactions with WNS' process expertise necessary for manual verification. The result is an automated and robust credit card fraud defense capability at the point of sale.
WNS delivers business processes to the travel and leisure industry, including 18 global airlines, by offering a comprehensive suite of customer care services, passenger revenue accounting and operations related processes. Accertify's InterceptasTM, is a proven solution for combating card-not-present fraud built from the ground up by experienced fraud prevention experts.
"With online travel sales at $250 billion in 2007, surpassing offline bookings, improved fraud prevention and detection management is critical for travel companies," said Steve Reynolds, Managing Director, North America, WNS Global Services. "This partnership with Accertify broadens our service offerings and demonstrates our commitment to process excellence and customer care for the travel industry."
"Credit card fraud over the Internet is the primary cause for the growing fraud problem and requires sophisticated monitoring processes," said Mike Long, Accertify Vice President and Chief Product Strategist. "The Accertify and WNS partnership provides customers with the tools and experienced fraud experts. At Accertify, our entire company is dedicated 24/7 to fighting online credit card fraud. Not only do we have a comprehensive and effective solution on the market, we have a proven track record of significantly reducing customers'total cost of fraud."
WNS is a leading global business process outsourcing company. Deep industry and business process knowledge, a partnership approach, comprehensive service offering and a proven track record enables WNS to deliver business value to some of the leading companies in the world. With over 22,000 employees, WNS is passionate about building a market-leading company valued by our clients, employees, business partners, investors and communities. For more information, visit www.wnsgs.com.
Accertify, Inc. is the first company to focus on developing fraud prevention tools and strategies from the perspective of merchants that accept 'card not present' transactions. That focus led to the development of Interceptas®, which applies state of the art automation to every step in the merchant's process of managing credit card fraud exposure. Accertify exemplifies a constant commitment to maintaining the best in fraud prevention strategies, and its management team combines complementary skills from fraud management, business software development, accounting and legal to assure that its customers receive the most comprehensive, cost-effective solution to credit card fraud available.