Payments services provider TSYS has rolled out a new authentication product to enable real-time verification of customer identities.
The new offering, called TSYS Authentication Platform, is designed to help clients combat synthetic and account takeover fraud.
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It verifies the authenticity of a person by leveraging customer experience data procured from direct cardholder touchpoints and integrates with the clients’ existing authentication systems.
TSYS Authentication Platform uses machine learning and other technologies to provide real-time opinion on transactions and customer interactions.
The platform can be utilised to authenticate various interactions including account origination, customer profile updates or purchases.
Furthermore, the new proposition is said to enable the company’s clients to comply with European Union’s PSD2 requirements.
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By GlobalDataTSYS Issuer Solutions senior vice president of product strategy and commercialisation Justin Griggs said: “At TSYS, we understand how various transactions are connected because we work with a global network of card issuers representing millions of individual accounts.
“If a device has been compromised in Ireland, for example, we can use that information to flag a remote login attempt in North America.
“We have real-time knowledge of potential fraud issues, and now we’re using that information to help our clients authenticate their customers and transactions across any use case.”
TSYS developed the Authentication Platform in collaboration with Featurespace, Emailage, InAuth and Payfone.
The platform is currently available in Europe, with plans to expand its reach to North America next year.
Based in the US, TSYS provides solutions across the payments ecosystem involving issuers, merchants and consumers.
In May, Global Payments signed a deal to acquire TSYS in an all-stock transaction valued at $21.5bn.
