Preventing ATM fraud in Chile
Banco de Credito de Inversiones is one of Chile's largest and most progressive banks, while Belltech is a KAL partner with offices in Argentina, Chile, Colombia and Peru.
The challenge: Provide a multivendor ATM solution to eliminate fraud by enabling automated teller machines to spot counterfeit cards.
Eliminate card skimming attacks at ATMs using Magneprint technology.
KAL, Belltech and MagTek teamed up to provide BCI Chile with the new solution. KAL’s Kalignite NDC software was seamlessly integrated with MagTec’s Magneprint technology and rolled out by Belltech to more than 1,000 BCI ATMs. This was the world's first deployment of this new, patented technology.
Magneprint allows the magnetic stripe on the ATM card to be "fingerprinted", so that if a forged card is made from the original good card, it can be detected by Magneprint as a forgery. A major advantage is that the bank does not have to issue smartcards (also known as chip cards) which are an alternative way to stop card skimming attacks.
More about Belltech
Belltech is a KAL partner focused on the design, implementation and support of advanced communications, self-service systems and automation for retail, banking and corporate markets. It has offices in Argentina, Chile, Colombia and Peru, with over 500 customers in the region.