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WNS Partners with Accertify to Provide Fraud Prevention Solutions
Strategic alliance will help reduce fraud exposure in the $250 billion online travel industry
NEW YORK & MUMBAI, India--(BUSINESS WIRE)--July 29, 2008--WNS (Holdings) Limited (NYSE: WNS), a leading provider of global business process outsourcing (BPO) services, today announced it has formed a strategic alliance with Accertify, a provider of leading-edge fraud prevention solutions to online retailers. The alliance provides deep process management expertise in travel with state-of-the-art online fraud detection technology.
While the travel industry has enhanced their online booking capabilities, exposure to fraud is a major concern, costing the industry an estimated $600 million a year. More than a third of airlines have been hit by credit card fraud, which accounts for around 60 percent of all external fraud-related losses. This partnership brings together Accertify's Intercepta(TM) which sorts through suspicious transactions with WNS' process expertise necessary for manual verification. The result is an automated and robust credit card fraud defense capability at the point of sale.
WNS delivers business processes to the travel and leisure industry, including 18 global airlines, by offering a comprehensive suite of customer care services, passenger revenue accounting and operations related processes. Accertify's Interceptas(TM), is a proven solution for combating card-not-present fraud built from the ground up by experienced fraud prevention experts.
"With online travel sales at $250 billion in 2007, surpassing offline bookings, improved fraud prevention and detection management is critical for travel companies," said Steve Reynolds, Managing Director, North America, WNS Global Services. "This partnership with Accertify broadens our service offerings and demonstrates our commitment to process excellence and customer care for the travel industry."
"Credit card fraud over the Internet is the primary cause for the growing fraud problem and requires sophisticated monitoring processes," said Mike Long, Accertify Vice President and Chief Product Strategist. "The Accertify and WNS partnership provides customers with the tools and experienced fraud experts. At Accertify, our entire company is dedicated 24/7 to fighting online credit card fraud. Not only do we have a comprehensive and effective solution on the market, we have a proven track record of significantly reducing customers' total cost of fraud."
WNS is a leading global business process outsourcing company. Deep industry and business process knowledge, a partnership approach, comprehensive service offering and a proven track record enables WNS to deliver business value to some of the leading companies in the world. With over 22,000 employees, WNS is passionate about building a market-leading company valued by our clients, employees, business partners, investors and communities. For more information, visit www.wnsgs.com.
Accertify, Inc. is focused on developing fraud prevention tools and strategies from the perspective of merchants that accept 'card not present' transactions. That focus led to the development of Interceptas(TM) which applies state of the art automation to every step in the merchant's process of managing credit card fraud exposure. Accertify exemplifies a constant commitment to maintaining the best in fraud prevention strategies, and its management team combines complementary skills from fraud management, business software development, accounting and legal to assure that its customers receive a comprehensive, cost-effective solution to credit card fraud available. For more information, please visit www.accertify.com.
Safe Harbor Statement under the provisions of the United States Private Securities Litigation Reform Act of 1995
This news release contains forward-looking statements, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements include, without limitation, statements relating to the benefits and other impact of the strategic alliance with Accertify(TM). These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those that may be projected by these forward looking statements. These risks and uncertainties include but are not limited to technological innovation; telecommunications or technology disruptions; future regulatory actions and conditions in our operating areas; our dependence on a limited number of clients in a limited number of industries; our ability to attract and retain clients; our ability to expand our business or effectively manage growth; our ability to hire and retain enough sufficiently trained employees to support our operations; negative public reaction in the US or the UK to offshore outsourcing; regulatory, legislative and judicial developments; increasing competition in the business process outsourcing industry; political or economic instability in India, Sri Lanka and Jersey; worldwide economic and business conditions, including a slowdown in the U.S. and Indian economies and in the sectors in which our clients are based and a slowdown in the BPO and IT sectors world-wide; our ability to successfully consummate strategic acquisitions, as well as other risks detailed in our reports filed with the U.S. Securities and Exchange Commission. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in our filings with the Securities and Exchange Commission and our reports to shareholders. You are cautioned not to place undue reliance on these forward-looking statements, which reflect management's current analysis of future events. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: WNS (Holdings) Limited
Alan Katz, +1 212-599-6960
VP - Investor Relations
Aquin Dennison, +1 917-664-7235
Shalini Siromani, +44 203 008 5231
SOURCE: WNS (Holdings) Limited