Real-time decisions for improved fraud and risk control

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2 5 Introduction 5 Real-time decisions for improved fraud and risk control For several decades, fraudsters have forced financial institutions and the payment industry to engage in an arms race. These institutions and schemes are forced to invest significant sums in new fraud countermeasures, such as EMV chips, two factor authentication, hardware tokens, anti-skimming devices, 3D Secure, etc. Due to the fraudsters creativity and the resources they have available, the life span of such static countermeasures is limited. With, banks, issuers, acquirers, processors, and payment service providers can implement a versatile additional line of defence that gives them a significant advantage in this arms race. prevents fraudulent use of electronic payment systems by applying holistic and highly flexible real-time transaction analysis in multi-channel environments. is a true 24*7 real-time system. It prevents fraud by intercepting fraudulent transactions in-flight, triggering or text message alerts, and generating case reports for subsequent offline investigation. is capable of preventing fraud at individual portfolio level, either during the authorisation process or at the payment gateway. 5 delivers a big step forward in maximising fraud savings, minimising false positives, and reducing TCO. Challenge us We do not expect our potential customers to take our claims on face value, and are ready to prove our case. The Boardroom Pilot enables potential customers to see the difference would make in their organisation without any commitment, and with only a small investment in time. Just challenge us! 2

3 Real-time service In-flight decisions for 5,000+ transactions per second, with latency below two milliseconds Schemes & switches POS e- Commerce ATM No need for pre-selection of real-time / near real-time / batch processing reduces complexity of operation In-flight activation and amendment of decision models, no service restart required Authorisation system I Authorisation system II... Online banking platform Use of real-time capabilities by acquirers and PSPs to influence customers choice of payment method Trigger investigation cases in the case management workflow, send s or SMS, activate IVR workflow or block cards Intelligent job-scheduling for batch data input Fraud database Account management system Text IVR... 3

4 Multi-channel Multi-tenancy Protect customers (merchants or account holders) from sophisticated multichannel fraud attacks Out-of-the-box support for an unlimited number of transaction streams and lines of business Include non-financial events (e.g. address changes, unsuccessful login attempts, etc.) Seamless sharing of a single installation by multiple entities Client specific decision models, profiles, and case management Ensure data protection and independent operation through software Chinese walls between tenants. E-Commerce Account Data ATM White / Black Lists EFT / ACH Fraud Data Point of Sale Online Banking And more... 4

5 Model generation Simulation and analysis Manual, semi-automatic or fully automatic interactive modelling based on s self-learn algorithm White-box approach with human language modelling no programming skills required Develop portfolio and channel specific decision models easily and quickly based on neuro-fuzzy logic Ad-hoc simulation, visualisation and analysis of decision model and rule (set) performance on historical and most recent transaction data processed Understand current transaction and fraud characteristics Discover new fraud patterns at a very early stage Interactive analyses enable deep insights into current transaction and fraud trends. 5

6 Enterprise-ready High-availability 24*7 operations on standard computer hardware based on built-in clustering functionality No third party software or special clustering hardware required to set up a fully redundant cluster Centralised configuration and administration PCI-DSS compliance Open API for tight integration with third party software, and easy customisation The freely configurable dashboard screen provides a one-stop overview of the current system state, user activity, and key performance indicators of the entire installation. 6

7 5 Functional summary 5 Functional summary About Analytics The software product is made up of a number of core functions, together delivering an end-to-end solution for fraud and risk control. These are: Interception of fraudulent transactions in real-time Case management workflow Sophisticated analytics, including: Fraud and risk control specific statistics Simulation of fraud countermeasures Fully automatic and user assisted generation of decision models Management reporting These functions are based on a number of key technologies and concepts: 24*7, high availability, runs on commodity computer clusters Massively parallel computing, full usage of modern multi-core CPUs Multi-tiered data caching, facilitating unsurpassed transaction processing performance, as well as model generation and analysis/simulation speed Analytics serves the electronic payments industry as a competence centre for the prevention of payment fraud. The company develops and markets the fraud prevention solu tion and provides consulting services. Issuers, acquirers and payment processors across the globe use, and thereby benefit from reduced fraud losses, increased customer satisfaction and significant TCO reduction. Contact Analytics GmbH Wernher-von-Braun-Straße Neu-Isenburg Germany p: f: e: sales@iris.de Service-oriented architecture Multi-tenancy operation In-flight configuration without interrupting transaction processing or user interaction User access via standard web browsers Standard operating systems and hardware Standard interfaces and API PCI-DSS compliance 7