A report in the Barbados Nation newspaper says CIBC FirstCaribbean has put the power to monitor its debit and credit card accounts for fraud in the hands of its clients.
It has introduced client-controlled anti-fraud tools, including a geo-location service, transaction controls and real-time alerts to its mobile banking app.
The new services are built on Visa technology called mobile location confirmation and Freeze Your card service.
The Freeze My Card feature allows clients to place a temporary freeze on their debit and credit cards if they misplace or lose their card.
Clients will be able to reactivate their card when they have located it– all through their mobile phone.
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