Fraud Veteran Jamie Byles Joins Ethoca as European Commercial Director
TORONTO, Ontario, Canada and LONDON, UK, July 18, 2013 – Ethoca, the leading collaboration-based technology company that helps card issuers and online merchants benefit from two-way intelligence to accept more transactions and stop more fraud, has announced that Jamie Byles has joined the organization as European Commercial Director.
Most recently, as Vice President, Head of Fraud Strategy for Visa Europe, Jamie led the card association’s CNP Fraud Reduction Programme and ensured the successful implementation of fraud mitigation solutions across Visa Europe’s member and merchant community. With more than 15 years of fraud management strategy and operations experience at leading European banks, including Barclays and Royal Bank of Scotland, Jamie has a proven track record helping issuers, merchants and acquirers drive improved fraud reduction performance and higher transaction volumes. During the past ten years, he has also been recognized as the driving force of leading industry forums and committees, including the MasterCard Security Council and Visa Europe UK Fraud Working Group (elected Chairman from 2009 to 2012).
“With Jamie on board to build on our already established network in the UK and further expand into Europe, we have a proven, high-profile industry leader with an exceptional performance record in the online fraud and transaction acceptance arena,” said Andre Edelbrock, Ethoca Co-Founder and Chief Executive Officer. “Jamie has deep relationships and credibility with both merchants and issuers in the region. His decision to join the company sends a clear message to the market that Ethoca is strongly positioned to accelerate the growth of our global network of card issuing banks and online merchants. Europe is a pivotal growth area for the company – we’re thrilled to have Jamie on board to deliver Ethoca’s value to an even wider international market.”
Over the past two years, Ethoca has become widely recognized for building a collaboration-based network that closes the fraud intelligence gap between card issuers and merchants. Through the company’s unprecedented Ethoca Alerts service, merchants can now directly benefit from issuers’ cardholder-confirmed fraud intelligence and, for the first time, take immediate action to stop fraud that has already been confirmed by Ethoca’s global network of card issuers. In addition to stopping immediate fraud, both issuers and merchants successfully avoid the costly chargeback process and further strengthen fraud screening tools to accept more good transactions and fight future fraud.
In the coming years, Ethoca will focus on further growing the size and global reach of its network, which currently includes leading card issuers accounting for more than 50 per cent of online transaction volume in the U.S., Canada and the UK. In the U.S., the company also counts 9 of the top 10 Internet merchant brands as customers. Under Jamie Byles’ direction, Ethoca will focus initially on continued expansion throughout the UK and in France, key markets with the highest debit and credit card fraud rates in the region. This will include expanding Ethoca’s issuer relationships, as well as growing the company’s merchant customer base throughout the region.
“The market is absolutely at the right moment for Ethoca’s innovations, and it’s about time issuers and merchants both have a seat at the same table to benefit from fraud and cardholder intelligence that goes both ways,” says Jamie. “Connecting merchants and issuers through Ethoca is the vital first step, but it’s just the tip of the iceberg. We can help them not only strengthen their fraud defences but, even more importantly, find more effective ways to increase card acceptance and drive transaction growth. Leveraging the footholds we already have in the region, we expect our presence in Europe to grow considerably over the next six to 12 months.”
About Ethoca – Ethoca is the leading, global provider of collaboration-based technology that enables online merchants and card issuers to work together to stop fraud, accept more transactions and increase revenue. Ethoca closes the information gap between card issuers and merchants, making valuable cardholder insight and fraud intelligence securely available and actionable in real time. This unique capability delivers significant cost savings and revenue growth opportunities to the company’s global card issuer and merchant customers. To find out more, please visit www.ethoca.com.