Ricoh India has launched TranSecure, a first of its kind security solutions for the financial institutions. The solution is targeted for Indian market leveraging banks to detect suspected fraud transactions and arrive at a more intelligent decisioning methodology.
- TranSecure, a geolocation technology based payment security solution preventing e- and m-commerce fraud.
- The service enables a bank to authenticate a user’s identity based on their mobile phone location at the point of transaction, which can be an ATM Machine, Merchant Outlet or e-commerce website. As a result, a bank can effectively and pro-actively determine a potential fraud transaction and take necessary precautionary measures.
- The solution is easy to adopt as it does not require any mobile application installed by the end user.
- The service protects both the bank as well as a customer from ever increasing card fraud. It also ensures less false positives and card declines, improving customer satisfaction.
Sharing insights on the launched solution, Manoj Kumar, CEO and Managing Director, Ricoh India Ltd., said, “Incidence of bank card fraud in India (involving either debit or credit card) has risen 238% in the first five months of 2015. Today, fraudulent often manage to get access to not just payment data and credit files. The new trend is to move to mobile device solutions based on location, which are found to be far more robust in verifying the identity and credit card credentials of a customer. Ricoh forays into the service solution space for financial institutions, further strengthening our solution portfolio beyond office automation, into the application space.”
Ricoh also announced the launch of ‘Pinpoint’, a geolocation based solution for banks and insurance companies. For banks, Ricoh’s solution helps in reaching out to customers near its partner retailers with customized offers. For insurance companies, the solution provides them a means to monitor their typically huge agent/sales force by tracking their location, enabling better planning of customer visits and service calls. Ricoh Pinpoint targets only those customers who are near the partner-retailer’s location.
Since Ricoh Pinpoint runs on the network and not the mobile phone, there is no app required, not even a smartphone.