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On 8th March, the SEPA Card Framework (SCF) v2.0 was issued. In it, it mandates that all cards issued from 2008 are EMV compliant with all magnetic stripe cards being phased out by 2010.
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Successful card issuing, like any other aspect of the banking industry, is about managing risk. Those card issuers who harness the tools in EMV for managing risk will increase the benefits from EMV migration.
The card scheme liability shifts; effectively mandates for migration; are fast approaching. In Europe, 2005 no longer seems years away, and minds are being concentrated in bank boardrooms across the globe.
Aconite has a long and successful history of helping issuers move to EMV, and with these new pressures emerging, Aconite has developed a packaged solution to EMV Migration - EMV FastTrack™.
Aconite's Smart PrePaid™ solution provides card issuers with a fast-track, low risk, reduced cost entry into this lucrative market.
As a card issuer, your migration to EMV is all about your ability to manage and control your card related risk. A significant factor in your business case should therefore be your ability to control the behaviour of your cards by dynamically updating EMV risk parameters.
Even if EMV upgrades to existing systems are available in the required timescale, they are often delivered only as part of a major release. Not only does this involve significant cost, but requires regression testing of all authorisation functions, not just integration testing of EMV specifics. Some vendors are producing partial solutions that rely on third-party components, while heavily customised systems may not be upgradeable without substantial new investment.
Risk Status Translator enhances the fraud and risk management capabilities of Aconite's award winning EMV Script Processor (ESP) and Transaction Enabler (TRxE) products. RST adds the ability to automate parameter changes and script delivery based on scores provided by fraud and risk management systems.
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