Case Study: Major Third-Party Payment Processing Company detects card fraud within 25 seconds with Cognizant

Securing a Payment Processor Against Cyberattacks

A major third-party payment processing company faced brute force cyberattacks on its credit/debit card authorization systems, with fraudsters siphoning card data and causing declined transactions that led to significant losses for acquirers and merchants. The company turned to Cognizant and its Authorization Fraud Detection System (AFDS) to help detect and stop these attacks.

Cognizant implemented a rule-based enterprise fraud detection solution that monitors declined transactions in near real time, applies predefined fraud rules, and blocks or notifies suspicious activity automatically. With Cognizant’s AFDS, the company can detect fraudulent activity within 25 seconds, identify about 1,500 card violations per day, and save an average of $30,000 per month.