Challenge
Credit card fraud and identity theft is a billion dollar per year and growing problem for financial institutions and consumers alike. Credit card companies are searching for better solutions to help protect their customers and, as a result, are spending more on fraud protection today than ever before.

Solution
Integrating Jaduka's voice technology into the normal credit card transaction process provides added protection against unauthorized credit card charges. When a customer makes a credit card purchase, they are automatically contacted by phone to approve or deny the transaction. With the flexibility of Jaduka's API, credit card companies can customize the implementation to include spending limits, customer phone number designations (mobile, office, home), PIN selection, and other features.

Scenario
A customer visits her favorite online jewelry store and proceeds to purchase a new set of earrings. Since the total cost of the transaction was over her predefined limit, she automatically receives a phone call prompting her to enter "1" to approve or "2" to decline. If she presses "1", she is then asked to enter a secure PIN and is notified that the transaction will be processed immediately. If she presses "2" or the call goes unanswered, the transaction will be declined and the bank's security department will be notified.

Impact
With widespread adoption of this solution, credit card fraud will be significantly reduced, saving companies billions of dollars each year. Furthermore, it is an opportunity for credit card companies to offer this service as an "up-sell" to their already established security package - reducing fraud and increasing revenue.