|By Business Wire
|June 4, 2014 08:00 AM EDT
Corporation (NYSE: NCR), the global leader in consumer transaction
technologies, announced today that Cumberland
Building Society has deployed its Paym
mobile payment service using Authentic
and Fractals software from Alaric, an NCR company. Cumberland
Building Society is one of the first
U.K. financial institutions to sign up for the Paym mobile payment
service. The decision to invest in Alaric software to enable Paym is
another example of the innovative building society’s commitment to
improve service and make every day easier for its customers.
The deployment is an extension to the existing
relationship between NCR and Cumberland Building Society where
Alaric’s flexible and highly configurable Authentic and Fractals
solutions are already used to process and protect payment transactions.
This includes Cumberland Building Society’s ATMs, internet banking and
now mobile payment channels, as well as when Cumberland Building Society
customers use the LINK ATM network or use their Visa debit cards.
“Improving our customer experience by adding value when they bank with
us is at the heart of Cumberland Building Society’s strategy,” said Gary
Richardson, General Manager for IT at Cumberland Building Society. “One
of the ways we achieve this is by responding to the way our customers
want to bank by applying the latest technology. Smartphones are
omni-present, so it was an easy decision to adopt the Paym service.
Equally easy was the decision to extend our relationship with NCR and
the Alaric team to ensure that our customers’ Paym mobile payments are
efficiently run and carefully protected by Authentic and Fractals.”
Cumberland Building Society is one
of the first nine bank and building society brands in the U.K. to
offer the Paym
service. It allows consumers to make secure, convenient payments to
account holders of other participating banks or building societies using
only the recipient’s mobile phone number. No need to know, or remember,
sort codes or account numbers.
"Responding to customer feedback and trends is fundamental to any good
business. The financial industry is no different, but does lag other
industries when it comes to adoption of mobile services and
applications," said Rachel Nash, director of Financial Services at NCR
U.K. "Cumberland Building Society has a track record as one of the
U.K.’s most innovative financial institutions, so it was not surprising
that it was one of the first to adopt Paym. The flexibility and
configurability of the Authentic and Fractals software is such that it
was able to easily extend to another banking channel, and help
Cumberland run and protect this new service with minimal effort."
Authentic is a generalized payment platform most often used for payments
applications, such as consumer payment services hubs, payment gateways
and conventional card-related switching, authorization, and
device-driving applications. Authentic is an Open Development payment
platform and handles any type of transaction. It can accept transactions
from any device, source, or system, map these into different formats,
authorize and authenticate them, and then route them to any destination.
Authentic’s design empowers clients to customize the system themselves,
via GUI, without programming.
The Fractals intelligent fraud detection and prevention solution
delivers value to all players in the transaction chain through a
combination of self learning models and user defined rules. This
includes players, such as issuers, acquirers, processors, networks,
PSPs, ISOs and merchants, for all product types, including credit,
debit, prepaid or gift cards. Fractals is a multi-organisation,
multi-hierarchy, multi-channel, multi-currency solution that is able to
tackle any type of transactional fraud problem, including cross product,
cross channel, enterprise fraud detection and prevention. Rare among
fraud detection solutions, Fractals is PA-DSS certified.
About NCR Corporation
NCR Corporation (NYSE: NCR) is the global leader in consumer transaction
technologies, turning everyday interactions with businesses into
exceptional experiences. With its software, hardware, and portfolio of
services, NCR enables more than 485 million transactions daily across
retail, financial, travel, hospitality, telecom and technology, and
small business. NCR solutions run the everyday transactions that make
your life easier.
NCR is headquartered in Duluth, Georgia with approximately 29,000
employees and does business in 180 countries. NCR is a trademark of NCR
Corporation in the United States and other countries.
Web site: www.ncr.com,
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