NICOSIA | SafeCharge, a leading payment service provider, successfully released its new generation Risk Management Platform, which includes a super flexible rules engine functioning in real-time. While the switch has been gradual with the new system deployed in successive phases beginning Q1 2013, the new platform’s superior competence is already proven by a recently commissioned case study quantifying the fraud savings of BPG, an online gaming platform focused on the Italian market.
According to the study, whose time frame only covers a single instance of fraud attack in 2013, the process began with a SafeCharge risk expert suddenly noticing unusual activity in the BPG account. Many seemingly small and unrelated payment attempts were made back-to-back. As the new Risk Management Platform allows for immediate creation of new rules and does not require developers’ input, the SafeCharge team was super-fast in taking into account the typical profile of existing BPG clients and in creating new algorithms and rules to filter these unusual transactions.
After the new rules were created, the fraud attempts evolved to adjust to the new criteria. The SafeCharge risk team assessed that BPG was subject to a well-camouflaged and organized “spider-web” attack. Thanks to new platform, they instantly designed more complex rules to block out all transactions from this “web.” BPG reported estimated savings to be over €100,000 thanks to SafeCharge’s intervention.
“We were very pleased with the results of this study,” comments Yuval Ziv, the managing director at SafeCharge. “The release of this new platform is the result detailed design and market analysis, of a long development and testing effort. We have complete trust in our new risk management platform as it is crucial for us to meet the changing risk demands of the industry and our clients.”
The original case study can be viewed on the SafeCharge website, www.SafeCharge.com
With over thirteen years of experience, SafeCharge provides payment processing and fraud prevention solutions that maximize payment conversion and minimize risk. With award-winning technologies, SafeCharge is a recognized leader in the industry. For information on SafeCharge Risk Management Services, please contact email@example.com
Founded in 2008, BPG SRL is a leader in the Italian gaming and sports betting markets. BPG offers a wide variety of daily betting options on dozens of sporting events, giving bettors of all levels the opportunity to participate and choose among single bets, multiple systems and live betting.