International banking powerhouse offers pioneering data-sharing fraud
management service to help companies combat fraud and increase profits
DUBLIN, Ireland, June 8 /CNW/ - Ethoca Limited (Ethoca), the pioneer in
data-sharing fraud management for internet commerce and other
customer-not-present environments, announced today that Royal Bank of Scotland
plc (RBS) is to offer Ethoca's data-sharing service as part of RBS's expanding
range of customer-not-present fraud management tools.
RBS will offer Ethoca's 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 Ethoca.
"Merchants and payment service providers have trusted RBS and its group
of companies for years," said Andre Edelbrock, Ethoca's President and CEO. "At
Ethoca, we are committed to eliminating unwanted transactions through ethical
data sharing and rigorous compliance programs. More and more global businesses
are recognizing the significant benefits of data sharing to manage fraud and
Ethoca's members will benefit from the accelerated growth in membership
that RBS will bring through its existing and new e-commerce customers.
Expanding membership in Ethoca provides businesses with greater access to the
collective experiences and analyses of a broad number of businesses, enabling
them to evaluate the risk of fraud more accurately. By cross-industry
referencing, data sharing can help increase revenue, reduce overall fraud
rates and enhance customer relationships.
"We are excited that a recognized and trusted global provider of payment
processing and fraud management services has chosen Ethoca. Data sharing is
essential to help eliminate fraudulent activity and its resulting effect on a
company's bottom line." said Darryl Green, Ethoca's Chief Operating Officer.
"Ethoca's growth comes from our success in working with global banks,
merchants and payment service providers to enhance value for everyone. The key
is sharing data in a way that makes every customer, merchant and strategic
partner comfortable - and that's what Ethoca is all about."
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
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.
About Royal Bank of Scotland (www.rbs.com)
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
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.
About PaymentTrust (www.paymenttrust.com)
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.
Ethoca(TM) is a registered trademark of Ethoca Limited.
For further information:
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