Savings bank

Equicom Savings Bank launches FSS Secure 3D to combat CNP fraud

FSS (Financial Software and Systems), a leading global provider of integrated payment products and a payments processor, announced that Equicom Savings Bank (EqB), one of the Philippines’ leading banks, has successfully deployed FSS Secure3D, an intelligent payment authentication solution that can identify high-risk transactions, to provide cardholders with an additional layer of security for online payments and reduce the risk of fraud.

Inspired by EMVCo 3.2 guidelines, FSS Secure 3D identifies high-risk transactions before the transaction is authorized and the funds leave the cardholder’s account. The solution will be hosted on FSSNeT, an FSS secure private cloud, with FSS assuming a single role of responsibility for certification, compliance, evolving exchange mandates, and regulatory and functional enhancements. An as-a-service model enables Equicom to minimize fraud risk, alleviate compliance costs and improve efficiency.

Speaking about the collaboration, EqB Vice President and Head of Consumer and Small Business Lending Division Roussel E. Larger said; “The e-commerce environment is developing rapidly and is a growing concern. Given its deep expertise in payments and its growing deployment base, FSS Secure 3D is a proven solution for our needs. We were able to go live in a short period of time and are confident that the solution will help us mitigate fraud risk while reducing false positives and providing a seamless payment experience for customers.”

Speaking on the collaboration, FSS CEO Jaishankar AL, said; “We are delighted that EqB has chosen FSS as a partner. Our authentication-as-a-service model enables EqB Bank to achieve the necessary agility as well as enhanced functionality and security for its customers. By leaving fraud prevention and regulatory compliance to the experts, Equicom can focus on what it does best.

FSS Secure3D leverages the rich data streams exchanged between merchants and issuers to learn about customers’ transactional DNA and risk assessment transactions based on a combination of attributes related to location, merchant, the transaction and the device. This results in a smoother checkout journey and faster checkout experience for customers, which ultimately results in low levels of cart abandonment and increased sales. High-risk transactions requiring further inspection will still be subject to two-factor authentication or will be immediately declined, in accordance with regulations and customer risk appetite.

FSS secures 120 million transactions for more than 20 clients worldwide and protects a value of 3 billion USD per year. Benchmarked to process 8,000 transactions per second, FSS Secure3D ensures faster processing time and higher sales conversion. FSS Secure3D is certified by EMVCo and key card schemes like Visa, MasterCard and Amex.


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