ENACOMM Further Enhances Fraud Protection for Financial Institution and Credit Processor Customers Through New Boku Partnership

Wednesday, 18. November 2020 15:00


ENACOMM to integrate Boku verification of device ownership, possession into Fraud Control Module, enabling dynamic interaction channel behavior that thwarts suspected fraudsters

TULSA, OK, Nov. 18, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire -- ENACOMM Fraud Control Module (FCM) users will soon have an additional weapon to use against fraudsters, thanks to a new partnership between ENACOMM and Boku. Financial institution and credit card company customers of ENACOMM will be able to utilize Boku’s identity verification solutions in conjunction with the FCM to help reduce fraud and account takeovers (ATOs).

The ENACOMM Fraud Control Module uses customizable fraud indicators to identify, report and stop suspected fraudsters with rule-based actions. FCM users will now also be able to deploy Boku as an additional layer of security, to quickly verify legitimate users and identify likely fraudsters using signals from mobile service providers.

Through its global network of mobile carriers, Boku provides real-time signals to confirm that consumers are, in fact, who they say they are. These signals now power ENACOMM applications to dynamically change behavior discreetly, ensuring that fraudsters are unable to circumvent the extra security.

“A common tactic used by fraudsters is to hijack an accountholder’s phone number and use it as proof of identity to access account information,” explained David Jackson, ENACOMM Executive Vice President of Strategic Products. “Ensuring that a consumer has both legitimate ownership and possession of their phone number allows us to eliminate this type of fraud.”

When inconsistent or likely fraudulent phone behavior is detected, ENACOMM’s customer servicing applications (web, mobile, IVR, and virtual personal assistants) can automatically require further authentication, remove high-risk application options such as funds transfers or PIN changes, and/or route users to fraud queues. Based on mobile identity signals from Boku, FCM users can also create new fraud rules that, when triggered, will prompt the system to perform one or more actions, such as send an email alert to the fraud team with details on the incident.

“Boku uses mobile identity signals to detect and mitigate fraud, wherever it may originate,” commented Stuart Neal, Chief Business Officer for Identity at Boku. “Our partnership with ENACOMM ensures that their customers can dramatically reduce if not eliminate mobile device-based fraud, which frequently targets the financial services industry.”

To find out more about ENACOMM’s FinTech solutions, go to www.enacomm.net. To learn more about Boku, visit www.boku.com.

About ENACOMM

ENACOMM is a FinTech provider of a digital gateway that can talk to any core platform to support open banking and affordable solutions that modernize the user experience for bank customers and credit union members, rivaling the customer service technologies offered by the biggest financial institutions with the deepest pockets, and that transform operations through the strategic application of data. Utilizing web, mobile, real-time alerts, SMS texts, email, voice, chatbots and other communication technology channels including digital voice assistants that enable Conversational Voice Banking, ENACOMM harnesses artificial intelligence, big data, voice biometrics and more to help organizations provide customers and members with a best-in-class, omnichannel self-service experience that is convenient, secure, and user-friendly. A frontrunner in self-service technologies including intelligent, personalized interactive voice response (IVR) for over three decades, the company’s customer base ranges from community credit unions and community banks to the largest financial institutions in the United States. Offering financial institutions intelligent interactions and user authentication technologies as hosted services or on-demand through the “cloud,” ENACOMM was named a “Top 10 Retail Banking Solution Provider” by Banking CIO Outlook magazine. ENACOMM processes more than 1,000,000 customer interactions and automated data transactions every day.

About Boku

Boku Inc. is a leading global provider of mobile payment and mobile identity solutions. Boku’s technology platform, which is linked to more than 200 mobile wallets and network operators worldwide, verifies user identity, executes payments, and provisions new services, simplifying daily mobile interactions between consumers and digital organizations.

Boku’s technology platform is used in over 59 countries with over 815 million verified transactions in 2019, contributing $5 billion to the digital economy. Businesses that currently employ Boku’s platform to simplify sign-up, acquire new paying users and prevent fraud include global leaders such as Apple, Discover, Experian, Facebook, FIS, Fiserv, Google, Microsoft, Netflix, Paypal, Sony, Spotify and Western Union.

Boku Inc. was incorporated in 2008 and is headquartered in London, UK, with offices in various locations globally including in the US, Mumbai, Munich, Beijing, Paris, Sao Paulo, Singapore, Taipei, and Tokyo.

For more information, contact:

Lauren DuBois

(917) 573-2485

LaurenD@enacomm.net


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