UTA and The ai Corporation partner to tackle fuel card fraud
LONDON, September 02, 2021: UTA, a leading 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 best-in-class 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 in excess of 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.”
Note to Editors: Logos are available on request.
UNION TANK Eckstein GmbH & Co. KG
Dr. Andreas Runkel +49 6027 509-258 firstname.lastname@example.org www.uta.com
The ai Corporation Limited
Nick Jones +44 7832115362
UNION TANK Eckstein GmbH & Co. KG (UTA) is a leading provider of fuel and service cards in Europe. Commercial customers can use the UTA card system to refuel – independent of brand and without cash – at more than 68,000 acceptance points in 40 European countries. The UTA card can also be used for toll invoicing, repair work, and breakdown and towing services. Furthermore, VAT and fuel tax refunds can be claimed through a UTA service provider partner. UTA was voted “Best fuel card service provider for SMEs 2021” in a survey conducted by German Wirtschaftswoche magazine and the Cologne-based market research institute ServiceValue. UTA was founded in 1963 by Heinrich Eckstein and is today owned by Edenred SE.
For more information: www.uta.com
Edenred is a leading digital platform for services and payments and the everyday companion for people at work, connecting over 50 million users and 2 million partner merchants in 46 countries via more than 850,000 corporate clients. Edenred offers specific-purpose payment solutions for food (such as meal benefits), mobility (such as multi-energy, maintenance, toll, parking and commuter solutions), incentives (such as gift cards, employee engagement platforms) and corporate payments (such as virtual cards).
True to the Group’s purpose, “Enrich connections. For good.” these solutions enhance users’ well-being and purchasing power. They improve companies’ attractiveness and efficiency and vitalize the employment market and the local economy.
They also foster access to healthier food, more environmentally friendly products and softer mobility.
Edenred’s 10,000 employees are committed to making the world of work a connected ecosystem that is safer, more efficient and more responsible every day.
In 2020, thanks to its global technology assets, the Group managed close to €30 billion in business volume, primarily carried out via mobile applications, online platforms and cards.
Edenred is listed on the Euronext Paris stock exchange and included in the following indices: CAC Next 20, CAC Large 60, Euronext 100, FTSE4Good and MSCI Europe.
The logos and other trademarks mentioned and featured in this press release are registered trademarks of Edenred S.E., its subsidiaries or third parties. They may not be used for commercial purposes without prior written consent from their owners.
For more information: www.edenred.com
About The ai Corporation Limited (ai)
ai is trusted around the world for developing innovative technology that allows our customers to take control and grow profitably. Founded in 1998, we have a long track record of providing solutions to some of the world’s largest financial/payment institutions and international merchants. Our long-standing business partnerships are based on making things simple and providing self-service tools that allow our customers to take control. Through our relentless focus on these tools, we constantly strive to help our customers create highly profitable returns.
Take Control: Simply Stop Fraud.
Today, our unique self-service fraud detection solutions are considered by many industry “thought leaders” to be the best in the world. Our solutions, including our new “state of the art” machine learning/A. I, protect and enrich payments experiences for more than 100 banks, over three million multi-channel merchants and over 300 million consumer cardholders. We also monitor over 25 billion transactions and authorisations each year. These machine learning technologies are also flexible enough to be applied to other business processes that require detailed consumer insight for marketing or pricing.
Take Control: Simply Manage Omni-Channel Payments:
In line with customer demand, and as the payment value chain continues to converge, ai is positioning itself to take advantage of the evolution of payments digitation, by exploiting our fraud and analytical capabilities. To support this ai’s payment gateway, issuing platform and European Money Licence, mean we can act as a payment facilitator for our business partners, allowing them the luxury of rapidly launching new alternative payment types into the marketplace. A truly end-to-end offering which uses “state of the art” machine learning to manage omni-channel payment transactions securely via a cloud-based platform.
Find out how ai can provide innovative technology that will help you grow profitably by visiting www.aicorporation.com