US Airways Selects 41st Parameter’s FraudNet
Advanced Anti-Fraud Solution to Detect Card Not Present Fraud across Multiple Channels and Provide Greater Protection to Customers
Scottsdale, Ariz. - March 27, 2009 - 41st Parameter® Inc.
, the leading provider of internet fraud intervention and detection services and technology, today announced U.S. Airways (NYSE: LCC) selected FraudNet to detect and prevent Card Not Present (CNP) fraud across multiple reservation channels including online, kiosk and phone. The airline conducted an arduous selection process and chose FraudNet, the leading dedicated fraud solution for the travel industry, to help identify legitimate versus suspect transactions on a global scale.
In addition, US Airways will utilise FraudNet to protect Dividend Miles® members against account compromise and fraudulent account access; safeguarding their frequent flyers sensitive data and assets. "After researching a number of anti-fraud solutions, we found FraudNet to be the most advanced, and best suited to our needs," said Chris Abbey, Managing Director, Revenue Accounting, US Airways. "With FraudNet, we expect significant revenue retention as a result of fraud reductions plus improved customer satisfaction through the enhanced security to access of our most loyal customer's accounts."
At the core of the FraudNet solution is PCPrint™, 41st Parameter's powerful and covert PC fingerprinting technology, the leading device identification technology available today. Coupled with a risk engine specifically tuned for the airline industry, US Airways is implementing best-in-class fraud detection tools, easily accessible on a single dashboard. FraudNet empowers the airline's investigators to identify interlinked activities with the included link analysis tools, quickly report confirmed fraudulent cases to law enforcement bodies while reducing the volume of transactions and reservations requiring manual review.
"Card Not Present transactions continue to show significant growth within the travel industry as travelers worldwide embrace the conveniences provided by technology," said Ori Eisen, founder and Chief Innovation Officer, 41st Parameter. "US Airways' decision to implement 41st Parameter's advanced solutions to detect and prevent fraud shows great foresight; taking proactive measures to curtail the increased threat of fraud that accompanies their many reservation channels."
This is the latest in a progression of orders; establishing 41st Parameter as a key supplier of advanced anti-fraud solutions to the global travel industry.
About US Airways
US Airways was America's number one on-time airline in 2008 among the "Big Six" hub-and-spoke airlines according to the U.S. Department of Transportation's (DOT) monthly Air Travel Consumer Report. US Airways, along with US Airways Shuttle and US Airways Express, operates more than 3,200 flights per day and serves 200 communities in the U.S., Canada, Europe, the Caribbean and Latin America. The airline employs nearly 34,000 aviation professionals worldwide and is a member of the Star Alliance network, which offers our customers more than 16,500 daily flights to 912 destinations in 159 countries worldwide. And for the tenth consecutive year, the airline received a Diamond Award for maintenance training excellence from the Federal Aviation Administration (FAA) for its Charlotte, North Carolina hub line maintenance facility. For more company information, visit usairways.com. (LCCG)
About 41st Parameter
41st Parameter is the leader in fraud intervention, providing proven solutions to protect company brands and customers, reduce fraud losses and make the Internet a safer place to conduct business. Through a combination of risk management and loss prevention experience, and leading technology coupled with human interaction and best practices, 41st Parameter's solutions provide an unprecedented level of detection capability, decreasing the anonymity of the Internet and providing valuable insight to every online transaction and customer interaction. 41st Parameter makes the process of detecting and preventing fraud easier and more effective, reducing both expenses and potential losses. For more information, visit www.the41st.com
IBA – PR for 41st Parameter
+44 (0) 1780 721 433
Issuers of news releases, not Targetwire, are solely responsible for the accuracy of the content.