ATM Skimming fraud and where it will happen next continues to plague many financial institutions. Training employees to look for foreign devices on ATM’s is helpful but not consistent or full proof during busy times or non-business hours. Unfortunately, so much time is spent “reacting” to ATM Skimming fraud events and losses are well underway before the fraud is actually stopped. SkimCatcher turns the tables on these “reactive” and resource intensive efforts and uses analytics and machine learning to “proactively” alert financial institutions and eliminate ATM skimming events immediately.
The first critical element that makes SkimCatcher successful is the consistent capture of accurate, real time and measurable data. We have all heard of the theory of “garbage in leads to garbage out” and this is a key component of SkimCatcher. Current fraud skimming devices and new modifications to ATM’s continue to be the root causes for card theft. With SkimCatcher, our data intensive approach alerts clients to the exact time and location where the skimming fraud actually starts. ATM skimming fraud takes less than a couple minutes to put in place and SkimCatcher is ready and available 24 x 7 to identify the presence of fraud in seconds.
The second key piece to SkimCatcher is our consistent and client friendly delivery of data for immediate visualization and action. Our dashboard approach puts the captured data and critical information at your fingertips for immediate review and action. Clients particularly like the fact that SkimCatcher allows them to “proactively” identify events and eliminate negative member experiences. Finding out about ATM fraud from a member has proven to damage brand reputation and SkimCatcher helps financial institutions protect their reputation, eliminate losses and reduce risk for account churn. Wouldn’t you rather spend time on positive member engagements?