U.S. Patent Office registers Chase’s fraud prevention solution

Chase Card Services announced that on Jan. 20, 2009 it has received a patent of the United States Patent Office number US 7,480,631for its breakthrough fraud prevention technology, First Watch Intelligence. The technology is aimed at protecting its customers from identity theft, and credit card fraud. 

First Watch Intelligence creates an automated system for evaluating more than 40 factors that indicate potential fraud for Chase analysts to detect fraud more efficiently and effectively. 

At the time when the Identity Theft Resource Center, a non-profit organization that monitors identity fraud, predicted that credit card fraud was likely to increase in 2009 the new product introduced by Chase adds value delivered to the company customers.

Mike Cunningham, senior director of fraud operations at Chase Card Services cited the user-friendliness and high success of the solution.