IRIS for card issuers

With profit margins under pressure, and fraud patterns changing rapidly and becoming more and more sophisticated, IRIS is the right tool to enable cost effective real-time fraud prevention for card issuers. The IRIS philosophy focuses on maximising savings and minimising customer disruption. IRIS optimally channels your resources towards the most effective means of fighting fraud.

Fraud is a constantly moving target. The unrelenting creativity of fraudsters to develop new scams and hazards is exacerbated by the rapid mutation of established fraud schemes into new strains. IRIS’ unique machine learning algorithms based on Hybrid Logic, and a complete simulation workflow will allow you to quickly detect emerging fraud patterns, efficiently analyse how they can be thwarted, and unbureaucratically install countermeasures – all within a matter of hours.

Minimising false alarms is key to efficient fraud management. It ensures maximum customer satisfaction and optimises fraud management costs: fewer customers are unnerved by false alarms; few false alarms mean that fewer fraud investigators are required.

IRIS achieves unparalleled low false positive ratios and maintains high fraud detection rates by keeping detailed records of customer and fraudster behaviour for as long as required. Real-time enabled techniques – such as long-term entity profiling, multi-dimensional transaction history evaluation as well as event and master data storage – combined with IRIS’ automated model generation functionality – provide for unsurpassed accuracy in filtering out fraudulent transactions from genuine ones.