If a credit-card issuer is alerted to a suspicious transaction, Adeptra’s alerting system, AlertXchange, automatically contacts the credit-card holder by text message, telephone, pager or fax and asks him or her to verify the transaction immediately. Customers include financial-services and credit-card companies, such as HBOS, Lloyds TSB, Chase and GE Capital. Adeptra says that one bank saved £4m in the first six months of this year by using its product to combat fraud. In 2000, the company received about £25m in funding from a consortium led by Deutsche Bank. Sales have grown 151% a year from £221,000 in 2001 to £1.4m in 2003 when it showed a significant loss.
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