Local business in line to win Export Award
A CLUNES based company has become a finalist in the 2017 Premier's NSW Export Awards.
Spectrum Message Services' interactive messaging technology called MoneyGuard is used by banks around the world to assist in preventing fraud and communicate with their customers in real time.
It has been recognised in the Digital Technologies category of the awards.
Spectrum Message Services Managing Director Gerard Vos said in 2015 credit card fraud totalled nearly $22 billion and is expected to reach more than $31 billion by 2018.
"MoneyGuard created a new way to send interactive alerts between the card holder and the financial institution to prevent fraud,” Mr Vos said.
"Connected to the bank's fraud system it sends a message to the customer to ask them to confirm or deny a transaction.”
"Based on the response it can re-enable the card, allow the transaction to be repeated, or block the card and stop further fraud. It replaces the often inconvenient process of manual calls.”
MoneyGuard is used by banks in a range of countries such as Canada, Mexico, Switzerland, Poland and Hungary.
Export Council of Australia CEO Lisa McAuley said the NSW Export Awards being announced next week are about rewarding businesses that have shown a commitment and determination to grow their global business and who seek new innovative ways to compete on the international stage.
"To acknowledge and celebrate the success of NSW companies is an important part of encouraging more companies to think global and this year at the awards ceremony we will be celebrating and recognising the great opportunities emerging for NSW companies in Latin America,” she said.
"We look forward to a great event that recognises our NSW champions and looks at the new growth opportunities for the state this in this important region.”
The winners will be announced next Wednesday October 25 at the Star in Pyrmont.