Add-on component to industry-leading CentrixDTS™ minimizes costs
related to continual retail debit card breach incidents
AUSTIN, Texas--(BUSINESS WIRE)--
Q2
Holdings, Inc. (NYSE: QTWO), a leading provider of secure,
cloud-based digital banking solutions for community-focused financial
institutions (FIs), announced today the launch of its Centrix Dispute
Tracking System (CentrixDTS™) Fraud Alerts module, an add-on to the case
management and Regulation E compliance platform financial institutions
use for both fraud and non-fraud transaction disputes.
Financial institutions of all sizes are challenged daily with the
increase of fraudulent activity and continually struggle to track and
report escalating fraud claims that are associated with specific debit
card breaches. The Fraud Alerts module builds on the existing capability
of CentrixDTS™ and empowers FIs to quickly and accurately measure the
financial impact of a card breach and streamline the back office
management and labor-intensive processes of managing transaction
disputes.
“Far too many institutions are simply unable to quantify the impact of
card breaches. It’s guesswork at best,” said Tim Kindschuh, CentrixDTS™
product manager. “When combined with the automated tracking capability
of CentrixDTS™, the Fraud Alerts module eliminates the uncertainty by
offering significantly improved efficiencies in tracking and reporting
disputed activity.”
By processing the compromised files that credit card companies provide
to financial institutions after a data breach, the Fraud Alerts module
is able to automatically associate each fraud claim with the
corresponding card breach. The online reporting provides transparency
into the financial impact of the breach, including high-level summary
reporting and detailed statistics.
"In the current landscape of card breaches and fraudulent transactions,
this integration helps us identify compromised information much more
quickly,” said Cheryl Brown, vice president of operations and program
management at the $1.6 billion-asset Gesa Credit Union. “Fraud Alerts
will not only allow us to minimize the dollars lost for the credit
union, but will save hours of time for members and staff in completing
claims."
CentrixDTS™ is a product of Centrix Solutions, a Q2 company. Centrix’s
products are designed to empower FIs with products and services to help
detect fraud, manage risk and simplify compliance. For more information
on CentrixDTS™, visit www.q2ebanking.com/centrix,
or visit www.centrixsolutions.com.
About Q2 Holdings, Inc.
Q2 Holdings, Inc. (Q2) is a leading provider of secure,
cloud-based digital banking solutions headquartered in Austin, Texas. Q2
is driven by a culture of partnership and dedication to empowering
community-focused banks and credit unions with digital banking
solutions that help them stand apart, scale smart and grow beyond with
retail and commercial account holders. Q2’s solutions are designed to
deliver a compelling, secure and consistent user experience on any
device and enable customers to improve account holder retention and
to create incremental sales opportunities. To learn more about Q2, visit www.q2ebanking.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161011005505/en/
Source: Q2 Holdings, Inc.