FIS has announced that its SecurLOCK card fraud management solution is poised to deliver an increase in accurately identified and prevented fraudulent card transactions utilizing a new collaboration with FIS Fintech Accelerator alumnus Stratyfy. The gains anticipated from this collaboration come at a critical time in the payments industry, with a new report finding fraud is expected to cost businesses and their customers more than $40 billion annually by 2027. With this anticipated advantage, customers may see a better and safer card payments experience for consumers as more fraud attempts are stopped, saving numerous hours of resolution time per transaction.

Through live customer testing, FIS estimated that the SecurLOCK product was able to deliver a significant improvement of accurately identified and prevented fraudulent activity. Reducing this friction, consumers can be less adversely affected by fraud rules and the disruption of " false positives" than ever before.