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

By AIT News Desk On Nov 23, 2020

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

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.

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“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.”