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Evertec Launches RiskCenter 360 in Puerto Rico

Evertec, compañía líder de procesamiento de pagos y tecnología, anunció hoy el lanzamiento de la plataforma RiskCenter 360 en Latinoamérica.
Evertec Lanza RiskCenter 360

To detect and prevent fraud in electronic transactions

(Information published by Newsroom, The Weekly Journal on Nov 13, 2020)

Evertec, a local company dedicated to payment processing and technology, announced today the launch of the RiskCenter 360 platform in Puerto Rico, designed to monitor, detect, and prevent fraud in electronic transactions.

The platform, which was already launched in Latin America, has the ability to analyze and detect the presence of patterns and changes in transactional behavior from entities, individuals, and accounts, joining multiple payment channels simultaneously.

“Electronic payments continue to grow exponentially. With this trend in mind, we created RiskCenter 360 to minimize potential fraud opportunities by integrating the security tools necessary to protect both consumers and financial institutions and businesses. The platform is designed for organizations that in one way or another handle means of payment and electronic transactions, such as banks, issuers, acquirers, processors and businesses, whether or not they are processed by Evertec,” said Mike Vizcarrondo, Executive of Payment Services for Puerto Rico.

Moreover, Antuam Traverso, Evertec’s Product Manager for Risk and Fraud Management, highlighted the analytical capacity that the platform provides to its users and the ability to analyze the risks associated with the different transactions and events carried out by clients in the multiple channels of interaction with the institution.

“Risk management represents a global challenge due to the increase in digital transactions in recent months. RiskCenter 360 monitors and performs risk analysis and fraud monitoring and control actions associated with the different transactions and events carried out by clients. It has a powerful detection system that maximizes the use of data sources and a flexible rules management system that does not require programming experience, improving the end user experience,” Traverso said.

By the end of 2020, e-Commerce fraud is estimated to reach $12 billion. The main offender is “account takeover” fraud, which constitutes 29.8 percent of all e-Commerce fraud.

In fact, between 2016 and 2017, account takeover fraud grew over 122 percent, causing $9 billion in losses in 2019.

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