UTA and The ai Corporation partner to tackle fuel card fraud

UTA

UTA, a provider of fuel and service cards in Europe and an Edenred company, has partnered with The ai Corporation (ai), an expert for fraud prevention and payment solutions. This new partnership is founded on developing additional protection for UTA customers from the evolving global threat of fuel card fraud. The ai Corporation’s services will complement UTA’s established range of security measures and the activities of UTA’s internal fraud prevention team.

The aiFraud Managed Service which is powered by ai’s new automated machine learning, combines the latest advanced technology solutions, along with fraud analytics expertise, aimed at preventing the latest global fraud trends. Currently this service provides direct support to over 200,000 fuel retail sites across Europe, North America, East Asia, South Africa and manages more than 500 million fuel card transactions a year.

Carsten Bettermann, CEO of UTA, says: “We want to offer our customers the best possible security for their cards and transactions. In view of the steadily increasing risk of fuel card fraud and the technically sophisticated and innovative fraud methods, we are therefore continuously adapting our systems and processes for the prevention and detection of fraud. The cooperation with ai and the introduction of algorithm-based and artificial intelligence-driven automated fraud detection brings UTA’s security standards to a new level.”

Dr. Mark Goldspink, CEO of ai, says: “We are excited to partner with UTA to add our expertise to their existing fraud practices across the fuel card portfolio. Our aiFraud Managed Service will give UTA access to the latest technologies including ai’s automated machine learning (AutoPilotML) and our team of fuel card experts. We are delighted about this new partnership and look forward to a fruitful business relationship.”

 

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Rebecca Morpeth Spayne,
Editor, Security Portfolio

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