Connecticut's Credit Unions Announces New Rippleshot Partnership

Connecticut’s Credit Unions has announced a new partnership with Rippleshot, a fraud analytics company that gives credit unions tools to catch fraud earlier, without needing a bigger team to do it.

• Fraud Interceptor analyzes patterns across a broad network of financial institutions to identify high-risk merchants and emerging fraud trends, so your team can write proactive blocking rules before losses happen instead of reacting after the fact. It plugs into your existing rules and workflows, no new software and no IT lift required, and Rippleshot's analysts work alongside your team on an ongoing basis. Clients have seen results within the first month, with some reporting several times their cost back in fraud prevented in year one.
• Fraud Intelligence Collective is a vetted peer network where fraud professionals at other financial institutions compare notes in real time. As an added benefit, membership also includes access to Rippleshot's Merchant Intelligence data, so you can look up a suspicious merchant directly in the platform instead of just talking about it. When something spikes, you can find out in minutes whether it's isolated to you or hitting the industry, and see how other institutions are responding.

Neither one requires sharing member-level personal information. Fraud Interceptor works off anonymized transaction signals, and Fraud Intelligence Collective membership is invitation-only and vetted, so it's a small, trusted group, not an open forum.

Credit unions interested in learning more can contact Chris Whalen at [email protected].