Ethoca, the industry standard for collaboration-based technology solutions that help card issuers and online merchants increase card acceptance and stop ecommerce fraud and disputes, today announced that it has won two awards at the London FStech Awards 2017.
The global innovator picked up not only the award for Anti-Fraud Strategy of the Year, but was also crowned Overall Winner – a title that recognises the best solution out of 26 categories.
The awards – now in their 17th year – recognise excellence and innovation within the UK and EMEA financial services sectors and were announced on Thursday March 23 at the London Marriott Hotel Grosvenor Square.
“We are proud to be recognised again in Europe for our dedication to innovation in financial services technology. Our global collaboration network empowers participating issuers and merchants to stop more CNP fraud and chargebacks with each passing day,” said Keith Briscoe, Chief Marketing Officer, Ethoca. “It’s an honour that the judges recognised the unique value that Ethoca brings to all players in the payment ecosystem. To be recognised with two awards at this level proves that our services are not just effective, but are indispensable to card issuers and online merchants in Europe and beyond.”
These awards recognise the performance of Ethoca Alerts – a faster, more cost-effective and customer friendly alternative to the chargeback process. It provides an early warning on fraud and disputes that have already been confirmed between cardholders and their issuing bank, giving merchants the opportunity to stop fraud, halt the delivery of goods and services, and refund cardholders to avoid impending chargebacks. Card issuers who use the service benefit by avoiding chargeback processing costs and recovering fraud losses – including 3D Secure and low-value transaction write-offs – much more quickly and inexpensively than ever before.
This victory adds to a growing list of Ethoca award wins and nominations in 2017. In February, Ethoca won the 2017 Card & Payments Award for Best Technology Initiative (in conjunction with Accertify). In March, Ethoca scooped up the PayFORUM Grand Prix Award and the PayFORUM Security Award. The company is also nominated in the Judge’s Choice and Customer Choice categories for Best Chargeback Management Program and Anti-Fraud Solution at the 2017 CNP Awards.
Ethoca is the leading, global provider of collaboration-based technology that enables card issuers, ecommerce merchants and online businesses to increase card acceptance, stop more fraud, recover lost revenue and eliminate chargebacks from both fraud and customer service disputes. Through the Ethoca Network – the first and only of its kind in the industry – we are closing the information gap between card issuers and merchants. This unique capability makes fraud and customer dispute insight available and actionable in real time.
Our suite of services delivers significant revenue growth and cost saving opportunities to more than 5000 merchants in 40+ countries and more than 565 card issuers in 20+ countries. Seven of the top ten ecommerce brands, 14 of the top 20 North American card issuers, and two of the top five UK card issuers rely on Ethoca solutions and the network that powers them.