Sailboats Launched a fully integrated risk mitigation solution designed to enable credit unions to detect and respond to potential fraud events in near real-time.
The new Risk Alert Manager puts credit unions in full control of their fraud response by consolidating data from all cardholder interactions, the credit union service organization said in a press release Tuesday (July 28) emailed to PYMNTS.
The solution is powered by Velera’s AI-driven unified risk platform. Atmos risksAccording to the statement.
Risk Alert Manager provides near real-time detection of compromised events and enables immediate response through actions such as blocking, unblocking, monitoring, card reissuance and account diaries, the statement said.
The solution also consolidates data from all cardholder interactions into one application so that no fraudulent activity goes unnoticed; Provides audit log reviews, dashboard analytics, and reporting tools to support compliance tracking and decision-making; It offers premium alert services, depending on the version.
The current iteration of Risk Alert Manager is compatible with both MasterCard and Visa The cards are designed to fit financial institutions’ evolving risk mitigation needs, and will gain additional features and availability through a phased rollout this year, according to the release.
“Fraud is evolving faster than ever, and even a single delay can have costly consequences for both credit unions and their members.” Karen PostmaVelera’s senior vice president of risk solutions said in the statement. “Velera’s Risk Alert Manager enables financial institutions to act immediately at the first sign of suspicious activity – protecting consumers, mitigating losses and staying one step ahead of emerging threats.”
the PYMNTS INTELLIGENCE “And Velera cooperation”Member advocacy: How credit unions are responding to the new fraud landscape It has been found that there is a growing need for credit unions to detect and respond to threats in real time.
The need is driven by AI-powered threats and member expectations that credit unions identify suspicious activity when it occurs and communicate with members quickly and clearly.
“Protecting members now requires moving beyond fragmented controls toward a dynamic, multi-layered defense that unifies data across every touchpoint,” Postma said in the report. “By applying advanced AI models to comprehensive, real-time insights, anomalies can be detected earlier and responded to more accurately, while maintaining the seamless experiences members have come to expect.”
