HBOS & SAS fraud protection of debit cards: spend normally to be processed

HBOS - UK leading provider for retails, corporate and business banking and the biggest player in mortgage and savings sector has recently stated the closing deal with SAS, one of the most powerful leaders on the enterprise intelligence software development, over the collaboration in creating advanced  methods and solutions of the debit cards' fraud prevention. As it was announced by parties' officials the new implemented solution would allow HBOS to reveal fraudulent transactions in cost- and time-efficient way and with more accuracy.

The main idea is to let HBOS to control in real-time all transactions processed via debit or ATM and to compare them to regular customer's behavior taking in view potential insignificant variations or changes, afterwards, the decision of either transaction is fraudulent or not will be made and transaction will be processed.

It is assumed that the new fraud prevention solution will considerably increase trust of debit cardholders in their banks and secure banking, especially online banking, the major concern of any Internet user. However, we doubt that the new fraud prevention solution basing on the comparative analyze of regular and uncommon behavior and spending  of the cardholder would be successful;  as a result we allow ourselves to be skeptic about the any considerable decrease of debit card fraud and therefore we would expect the increased number of frozen accounts of debit cardholders (mainly customers  tighten to paychecks), followed by even sharper incline of the customers to cash transactions strengthening the UK-customers' addiction to cash.

Natalia, reporter of Ecommerce Journal