Marqeta announced the launch of RiskControl Solution, an all-inclusive suite to allow its customer to optimize their card programs in a better way and take control of end-to-end risk management. Its focus is to eliminate fraud losses.
The future-facing card issuance platform noted that card issuers face issues of fraud constantly. RiskControl solution is empowered with a powerful new fraud mitigation solution entitled Real-Time Decisioning.
It enables card programs to develop highly engineered transaction controls and make payment fraud limited. The solution helps for minimizing risk for its customers as well as enables get ahead of potential fraud. Moreover, the solution is made to streamline their risk and compliance programs without offering any inconvenience to cardholders.
Randy Kern, Chief Technology Officer of Marqeta, stated, “We’re seeing fraud increases worldwide weigh heavily on card issuers and processors, intensifying the need to offer highly effective risk and fraud management solutions that are tailored to individual cardholder experiences. Marqeta’s deep expertise in issuing helps us provide a unique, end-to-end fraud and risk management solution that is specifically tailored to card-issuing transaction data. We’re putting the technology in our customers’ hands, unlocking their potential growth by proactively protecting them against the growing risk of fraud.”
Meanwhile, Marqeta further added some of its customers like Klarna, Yonder, and Branch already using RiskControl. Its features are made to serve identity verification capabilities meeting compliance necessities by blocking fraudsters and enabling businesses to onboard cardholders with the least friction.
Along with payment fraud limitations, Marqeta has introduced Know Your Customer (KYC) and Dispute products, beyond its previously announced 3D Secure.