|The Royal Bank of Scotland today announced it is to offer a pioneering data-sharing service as part of its expanding range of customer-not-present fraud management tools. The service provided by Ethoca Limited will be made available to customers of RiskGuardian, RBS’ specialist risk management solution.|
RBS will offer this unique data-sharing service to its global list of existing e-commerce customers. Merchants already using PaymentTrust for payment or fraud management-related services will have access to the service through their existing integration.
By expanding its fraud management offering, RBS expects to attract additional merchants to its growing customer base and will be actively promoting the strategic value of this new service.
RBS and its companies form one of the largest payment processing organizations in the world. Ron Kalifa, managing director of RBS Retailer Solutions comments: 'Effective data-sharing is without doubt a key next step in battling fraud in internet commerce and customer-not present environments. By adding Ethoca to RBS’s payment platform and its RiskGuardian suite of CNP risk tools, merchants can safely share data for purposes of fraud management, via a highly secure and easily integrated platform. RBS is confident that it can make a significant impact on fraud rates and profits for its customers.'
For more information please contact:
Morag Fleming, RBSG Retail Media Relations 0207 672 1817
Laura Mottram, RBSG Retail Media Relations 020 7672 1922
Notes to editors
About Royal Bank of Scotland
The Royal Bank of Scotland Group plc is the eighth largest bank in the world by market capitalization and one of the most recognized and trusted global brands in banking. The RBS group, throughout its operations located in the UK, Europe, North America and Asia, operates a wide variety of banking services of personal and business banking, private banking, insurance, corporate finance, wealth management, payment processing and fraud management services.
In the UK and Ireland the main subsidiary companies are: the Royal Bank of Scotland plc; NatWest; Streamline; WorldPay, Bibit, PaymentTrust, Ulster Bank; and Coutts. In the United States it owns Citizens Financial Group, the 8th largest bank in the country and Lynx, a leading US payment processor. Insurance companies include Direct Line, Privilege, Churchill and Lombard Direct. In Asia RBS owns a 10% stake in the Bank of China.
PaymentTrust Ltd is a wholly-owned subsidiary of the Royal Bank of Scotland plc. Payment Trust is a full payment solution provider designed to simplify the way companies accept payments. PaymentTrust supports both cardholder-not-present and physical point of sale environments, and is capable of processing transactions from a wide variety of payment methods. Through its connections to card-acquiring banks around the world it can provide compliant and secure transactions.
About Ethoca Limited (www.ethoca.com)
Headquartered in Dublin, Ireland, with offices in Toronto, Canada, Ethoca enables businesses operating in any “customer-not-present” environment (i.e., business by internet, phone, fax or mail) to make informed decisions about their customers through sharing data in a way that is efficient, effective and ethical. Businesses submit transactional data to Ethoca and in return receive summary history and analysis based on the collective data of Ethoca’s clients. The data received can then be used to gauge the fraud-risk associated with any given transaction.
Ethoca’s clients maximize their net sales by finding the optimal balance between allowed transactions and fraud-risk levels. Ethoca’s use of independent third-party business process and data integrity audits ensures that the privacy and security of data is maintained.