KASIKORNBANK deploys CTL’s FRAUDGUARD

Press release from the CTL Press Office, March 15th, 2006

Card Tech Limited (CTL), a UK-based leader in the payments industry, has licensed its FRAUDGUARD fraud detection and management solution to KASIKORNBANK PCL of Thailand.

KASIKORNBANK is Thailand’s third largest commercial bank and services over 810,000 credit cards, 4.5 million ATM cards and 41,000 merchant locations throughout Thailand. CTL’s FRAUDGUARD will be used as a central fraud management platform, enabling KASIKORNBANK to detect, alert and manage suspicious transactions. This will be CTL’s second major FRAUDGUARD installation in Thailand and further proof of its growing success in the Asia Pacific region.

Commenting on the contract, Dr Toedsit Netratanawong, Division Manager at KASIKORNBANK said, "CTL’s FRAUDGUARD solution is a world-class system that came highly recommended. Its rules are flexible and easy to define, and we were attracted by its excellent workflow, flexible interfacing and powerful case management tools."

Mohammed Al-Bassam, Managing Director of CTL, APAC said, "We are proud to be offering KASIKORNBANK the best-of-breed fraud detection and management solution available today. FRAUDGUARD is now employed by banks in 25 countries worldwide and is proving to be the leading future-proof solution for banks wishing to employ a cost-effective, flexible and usable product."

About Card Tech Limited

Card Tech Limited has been providing payment association certified solutions to the bankcard sector since 1989. More than 190 banking clients from 70 countries use CTL software and processing services.

CTL solutions include card issuance, merchant acquiring, authorisation, message switching, encryption key and PIN management, e-commerce and fraud management. Addressing every aspect of the card management business cycle, they are developed and supported by a dedicated team of over 300 CTL specialists across five regional offices.