Wright Express Selects ReD For Payment Fraud Protection

“Wright Express has aggressively addressed fuel card fraud, and adding ReD’s PRISM to our robust capabilities affords our clients an added layer of protection,” says Wright Express spokesperson.

Wright Express, a specialist in fleet, corporate and prepaid payment solutions, has signed an agreement to use ReD’s enterprise fraud prevention service.

The established fleet and fuel card company has incorporated ReD PRISM as a supporting tool to its in-house fraud initiatives.

“Fraud in the credit and charge card markets presents a growing daily challenge, both in terms of scope and complexity—and the fuel card industry has become a more direct and attractive target over the last several years.  Wright Express has aggressively addressed fuel card fraud, and adding ReD’s PRISM to our robust capabilities affords our clients an added layer of protection,” said Peter Connolly, Wright Express vice president, strategic accounts and portfolio risk management.  

ReD PRISM uses predictive analytics and neural modeling technologies to score the likelihood of a transaction being fraudulent.  The combination of custom scoring and dynamic rules assists client companies in identifying likely fraudulent transactions before they occur, thereby reducing overall fraud losses. 

“ReD is a proven and successful provider to the specialized fuel and fleet card space, which was critical to our selection by Wright Express,” said Kevin Sprake, president, North America, for ReD. “ReD PRISM is a powerful and scalable fraud prevention solution, developed specifically for card issuers, acquirers and payment processors. Wright Express has very high fraud mitigation standards and connecting to ReD PRISM will only serve to strengthen its platform.”

 

 

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