By Rachel Fletcher
Technology to combat payment fraud has led to a reduction in losses from the crime, according to the maker.
Adeptra said that its Auto-resolution solution has been taken on by Co-operative Financial Services (CFS), leading to a 35 per cent drop in fraud.
It also claimed that unrecoverable losses on payment cards has declined by 70 per cent.
Adeptra Auto-resolution has been behind the CFS's 12,000 calls to customers every month, with a halving in loss per case.
Martin Kent of CFS Financial Crime Management cited industry figures to show there had been a 14 per cent rise in card fraud across the sector and said that the firm had needed to take action to tackle it.
Adeptra was set up in 1996.
It has bases in Reading as well as Sydney, Norwalk and Connecticut.
Clients include nine UK card issuers and three major banks in Australia as well as eight financial institutions in North America.
