REDI ENTERPRISE DEVELOPMENT INC HELPS EVABANK REDUCE DEBIT CARD FRAUD LOSSES BY OVER 80%
REDi Enterprise Development Inc., a leading risk management software provider with a comprehensive suite of lending, compliance, and fraud prevention solutions, announces today that EvaBank successfully deployed the company’s debit card fraud prevention technology, REDiVerify, earning high praise from its’ customers and operational staff.
“Our debit card fraud has reduced by over 80% with the REDiVerify solution rollout. It has helped us in serving our clients with a first-class fraud prevention solution while giving us a proactive approach to fraud prevention,” said Paula Bodkin, Senior Vice President, Chief Operations Officer and Chief Financial Officer for EvaBank.
Through the REDiVerify platform, EvaBank was able to focus on reducing their operational risk associated to debit card fraud by establishing an automated process to catch and identify when and where fraud was happening with the card holder to stop or limit EvaBank’s financial loss. REDi has had tremendous success in preventing debit card fraud for banks and credit unions with the REDiVerify platform.
Rod Fuller, CFO and Partner of REDi, commented, “Through sophisticated rules and artificial intelligence, our proprietary software compares the characteristics of the institutions customers with fraud identifying rules. It then assesses and will raise a red flag to the customer as a real-time fraud alert or can entirely block a transaction from occurring. These safety features are designed to save the bank and the customer thousands of dollars in theft or identity credential compromise.”
With the fast-paced changes evolving in payment technology, it’s important for institutions to stay on top of technology available to help lower financial risks associated with debit card fraud. The extensive research and development efforts of REDi Enterprise Development, Inc. have led to the robust, yet customizable fraud prevention platform available to REDi’s clients today. For additional information on REDi’s products and services, visit www.44redi.com. Read the full case study on EvaBank at https://4redi.com/www/cabinet/EvaBankCS.pdf.
EvaBank is committed to serving the complete financial needs of successful businesses, business owners, professionals and individuals. The organizations cautiously aggressive loan and deposit policies allows for thoughtful, integrated and comprehensive solutions tailored to each customer’s needs, thereby freeing the business owner to succeed personally and professionally.
REDi Enterprise Development Inc. is a leading software provider for community financial institutions. The company has more than 130 customers nationwide and prides itself on both exceptional technology and exceptional service. REDi’s solutions include fraud prevention, enterprise notifications to customers, compliance solutions, and lending solutions. REDI’s risk management solutions provide automation for key functions throughout the organization and reduce operating risk. Additional information is available at www.44redi.com.