Indian FinTech Financial Software and Systems has launched a new risk-based adaptive authentication solution to boost online transaction security.
The new product, FSS Secure3D, is based on the EMVCo 3DS 2.0 protocol and uses machine learning algorithms to detect anomalous transactions within customer transaction behaviour.
The platform examines over 100 data points such as spend values, shopping patterns, transaction time and device IP to authenticate cardholders and detect suspicious behaviour.
FSS Secure3D has been benchmarkered to process 8,000 transactions per second.
FSS’ president of retail payments Suresh Rajagopalan said, “Secure and seamless transaction journeys are a strategic differentiator for new-age commerce.
“FSS Secure3D improves risk-based decisioning capabilities and enables issuers find the sweet spot between strengthening anti-fraud measures and delivering frictionless transaction experiences.
“The fact that FSS is among the first few service providers globally to achieve EMVCo certification reflects our product leadership position in the space.”
The Chennai-based company provides electronic payments and financial transaction processing services to financial institutions, process and regulators globally.