ICBA News Release
FOR IMMEDIATE RELEASE
ICBA Bancard, FIS Team Up to Offer Credit/Debit Card Fraud Protection
Washington, D.C. (July 26, 2007) — ICBA Bancard, the payment services subsidiary of the Independent Community Bankers of America, announced it will complement its exclusive Fraud Loss Protection Program with the FIS SecuredSM debit and credit fraud protection package from Fidelity National Information Services, Inc. (FIS).
“This is another example of how ICBA Bancard and FIS are partnering to provide the best possible services and, in this case, protection to community banks,” said Linda Echard, ICBA Bancard president and CEO. “Community banks face the same challenges as larger banks in combating fraud. Having this added protection is a true advantage for community banks and for their customers and gives community banks an environment in which to grow their payments portfolios. FIS’ comprehensive protection program will be offered in conjunction with Bancard's own Fraud Loss Protection Plan.”
FIS SecuredSM is a turnkey fraud management program that provides financial institutions with leveraged protection against fraud, enabling them to carry a credit and/or debit card portfolio with one of the best possible fraud loss protection solutions available today. The advanced analytical tools and fraud prevention resources used within the FIS SecuredSM program capture payment card usage patterns, monitor fraud trends and investigate potential fraud in an effort to recover potential losses due to fraudulent transactions. The program is unique in its approach and depth of fraud defense for credit and debit card issuers.
“The largest financial institutions have spent millions to develop advanced fraud mitigation strategies, and FIS SecuredSM gives smaller issuers the same tools,” said Anthony Ficarra, executive vice president for FIS’ Integrated Financial Solutions division. “FIS and ICBA Bancard level the playing field by providing community banks with services and solutions to maximize their growth.”
ICBA Bancard and FIS have partnered in offering quality credit, debit, merchant and Internet banking solutions to community banks for more than 20 years.