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For Moqom, the MasterCard Global Risk Management Conference, held in Prague, has been a very successful event. The services on display at the Show enjoyed outstanding popularity on the part of customers and other vendor visitors from all over the world.
Four services were being promoted at the company's stand: FPS; Mobile Contact Cleanup Service; SMS Registration Service and Mobile Location Service. Analysing the conference report, it shows a very high visitor frequency, and much interest in the full range of products in particular our Mobile Contact Cleanup Service, that allows a bank to verify if a customer's mobile contact number is still active.
Congratulations to the winners of Moqom's Conference Draw for attendees: Lucien Bourély of Brighterion, who won the top prize of a holiday voucher to Ireland including flights worth in the value of over €1,000. And to Signe Veelmaa of Swedbank, who won the bottle of Irish Whiskey.
The positive response received on Moqoms full range of services from international customers and conference visitors alike is a validation of these services showing great demand from around the globe.
On the 19th - 23rd September. Moqom will showcase their new services at the MasterCard Global Risk Management Conference in Praque.
The MasterCard Global Risk Management Conference Series offers a thought-provoking and informative forum to learn about the latest tools and techniques for minimizing fraud risk and maximizing profitability.
This is an opportunity for Moqom to share knowledge and best practices on key payment security issues, vulnerabilities and innovative techniques to mitigate fraud.
After many months of live trials and fantastic customer response, Moqom is pleased to announce that it has a reference customer for its new service FPS.
This customer is a leading financial institution who after trialling the service quickly realised the benefits and savings it gave them. False positives from credit and debit card transactions were almost eliminated, and staff efficiency were greatly improved with the time saving features of the service.
On the success of the FPS service trials the bank is eager to integrate other Moqom services into their working environment.
Moqom are pleased to announce that the latest version of FPS with its enriched and focused features is creating great interest in the financial industry. After demonstrating the service and outlining the benefits, a major financial institution is about to take the service on trial to evaluate its claims.
The Merchant Alert patent has just been granted giving Moqom exclusivity on its new service. With it Moqom can allow merchants to quickly act on card fraud alerts. The merchant can, if caught in time, stop an purchase from taking place. The new service will provide a link between the acquiring banks and merchant. Acting as a pipe, Merchant Alert channels alerts to the merchant, as soon as they are detected in the acquiring bank. Merchant alert has great cost saving and other benefits to both the bank and merchant.
This past year has been a very busy time in Moqom. For the past while we have been focused primarily on product R&D. Work concentrated on its cloud based platform, system security, support tools and the Fraud Prevention System (FPS) which now has a mature architecture with a rich and complete feature set. This strategy places Moqom in a strong position where its product is fully developed, commercially proven and is immediately ready to take to the global market.
In July Moqom increased its patent portfolio by filing a new innovation that will further help in the fight against card fraud. This latest patent checks that a cardholder's mobile phone is located in same country as where the card transaction has taken place. This is especially useful in eliminating debit card fraud.
Moqom's FPS has been granted full patent. This is a major step that protects Moqom's services worldwide.
In this current economic climate the global financial market has changed beyond recognition. With debts in excess of €3.6 Trillion, banks worldwide must make cost savings where they can. Where once they could absorb costs such as card fraud losses this is no longer the case. Not only must they reduce costs for commercial reasons but are also under political pressure to do so. This puts Moqom in an extremely strong and unique position – patented products which reduce a banks loss to card fraud, reduce operation costs and increase efficiency of bank resources.
In September Moqom has just filed a new patent. This patent is a new method of creating/delivering a "One Time Code". One time codes are a necessity where the highest level of security is a must. They can be used for: Online purchases providing cardholders with an authentication codes that can be used to authorise an online purchase or any other transaction that requires additional authentication or authorisation; other uses include online banking, Access to computer systems and security access to buildings etc...
Moqoms innovation will result in a new service that is highly secure, very fast and extremely reliable in delivering One Time Codes.
The Fraud Women's Network is holding a conference on Fraud Prevention. Moqom is pleased to be a sponsor of this event. The Fraud Women's Network has been set up to bring together women involved in all aspects of fraud prevention, detection, investigation and prosecution, to network and to share best practice, information and experience in order to help tackle the threat from fraud and organised crime head on.
On the 20th February, Moqom held an Open Day at The Ballsbridge Inn Hotel, Dublin.
Thank you to all for making the Moqom Open Day a success.
From the feedback received, those that attended found the event relevant and informative.
For those who were and were not able to attend, we will shortly be in contact with a brief summary of the main points discussed at the weekend.
In early February Moqom has just filed for a new patent. This innovation is a result of many many months work. The new patent will greatly protect merchants against card fraud. Moqom will roll out a new service that will allow merchants to quickly act on cardfraud. When deployed it can act so fast that the merchant delivery/order process can be halted or cancelled, saving the merchant from financial losses.
Moqom are delighted to announce that they will shortly unveiling a new product that will help in the war against card fraud.
This new product will specifically deal with merchants, both on the high street and online.It will be especially useful for cards not present transactions.The major benefit of this new software is that the merchant can be aware of a fraudulent transaction in as little as 5 minutes after a purchase, therefore can stop the goods before they are shipped.
This product will be unveiled at the upcoming Open Day in February 2009.
Card fraud is an ever increasing problem for financial institutions such as credit card companies and banks. The introduction of chip and PIN technology was aimed at eliminating such crime but criminal gangs are managing to stay one step ahead of the technology. Any solution which is dependent on being stored or implemented in the individual cards can be copied or hacked.
Moqom has the solution to counter credit, debit and ATM card fraud! It is called FPS!
FPS is a unique security measure that puts the cardholder in control of their cards security. For more information on FPS, please contact Moqom.