41st Parameter Provides Fraud-Reduction Solution to Continental Airlines for Card-Not-Present Ticket Sales
Posted on: Tuesday, 15 July 2008, 09:00 CDT
SCOTTSDALE, Ariz., July 15 /PRNewswire/ -- 41st Parameter Inc. (http://www.the41st.com/), a leading provider of Internet Fraud Intervention Services and Technology for e-commerce and financial services, today announced that it has been selected by Continental Airlines Inc. to help detect and prevent Card-Not-Present (CNP) fraud in its online sales channels. The airline will employ 41st Parameter's FraudNet(TM) to help it identify legitimate versus suspect website transactions on a global basis, as well as to prevent fraudulent account access, enabling the airline to protect sensitive customer data. This is the latest in a progression of orders that has established 41st Parameter as a key supplier of advanced anti-fraud solutions to the global travel industry.
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Important in Continental Airlines' decision was 41st Parameter's powerful covert proprietary technology that offers increased visibility and analysis of the airline's online transactions. The FraudNet solution provides Continental Airlines with all its detection tools on a single workbench, thereby decreasing investigator training times and reducing the volume of manually reviewed transactions. 41st Parameter's proprietary technology also allows airline investigators to identify interlinked activities and report genuinely fraudulent cases to law enforcement bodies.
"After researching various alternates available for a specialized fraud detection and prevention solution, we found that 41st Parameter has proprietary technologies not available from their competitors," commented Tom Ferazzi, Managing Director, Cash & Investments Treasury, Continental Airlines. "We believe these capabilities will allow us to capture more fraud faster than any of the alternatives we reviewed."
"Card-Not-Present transactions on the Internet have grown significantly in the travel industry over the past few years, and with it the quantity and complexity of fraudulent activities. Our success in this market stems from the breadth and depth of our offering that is enabling companies, such as Continental Airlines, to successfully defend against the fraudsters who are targeting the travel sector," commented Ori Eisen, Founder and Chief Innovation Officer of 41st Parameter.
About Continental Airlines
Continental Airlines is the world's fifth largest airline. Continental, together with Continental Express and Continental Connection, has more than 2,900 daily departures throughout the Americas, Europe and Asia, serving 144 domestic and 139 international destinations. More than 550 additional points are served via SkyTeam alliance airlines. With more than 45,000 employees, Continental has hubs serving New York, Houston, Cleveland and Guam, and together with Continental Express, carries approximately 69 million passengers per year. Continental consistently earns awards and critical acclaim for both its operation and its corporate culture. For more company information, visit http://www.continental.com/.
About 41st Parameter
41st Parameter is the leader in Internet Fraud Intervention solutions, which detect and prevent online fraud for e-commerce companies and financial institutions. None of 41st Parameter's solutions require end-user registration, enrollment, downloads or installations. To learn more about 41st Parameter, visit http://www.the41st.com/.
All brands, names, or trademarks mentioned in this document are the property
of their respective owners. Contact: Dave Yohe 41st Parameter Tel: 480.776.5518 Marketing at the 41st dot com Manuela Whittaker IBA - PR for 41st Parameter Tel: +44.1780.721.433 mwhittaker at iba-europe dot com
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41st Parameter Inc.
CONTACT: Dave Yohe of 41st Parameter, +1-480-776-5518,Marketing@the41st.com, or Manuela Whittaker of IBA - PR, +44 1780 721 433,mwhittaker@iba-europe.com, for 41st Parameter
Web site: http://www.the41.com/http://www.continental.com/
Source: PRNewswire
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