HBOS agrees SAS consumer contract

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LONDON – In a deal to protect retail customers’ credit and debit cards from fraud, UK lender Halifax Bank of Scotland (HBOS) has signed a seven-year fraud protection deal with intelligence software provider SAS.

SAS says the system gives HBOS the capacity to examine and uncover fraudulent transactions more accurately and in real time, checking customer behaviour before proceeding or denying transactions. It has the capacity for wider usage for other sorts of transactions.

“We are incredibly excited that HBOS has chosen to work with SAS. We’ve always believed fraud prevention and protection is an industry-wide issue, and having HBOS on board, alongside global financial organisations such as HSBC, strengthens our goal of building a consortium of financial institutions to mount an industry-wide fight against fraud,” said Jim Goodnight, chief executive officer at SAS.