IRIS for card processors

One of the central services provided by card processors to their customers is fraud management. With IRIS’s multi-tenancy capabilities, superior fraud prevention service can be provided at a very low TCO.

• One IRIS setup serves multiple issuers and acquirers (and merchants) completely independently of each other (“Chinese wall” principle).
• Changes to the multi-tenancy setup (e.g. adding a new issuing card portfolio, acquirer or merchant) can be performed through parameter configuration and without service interruption.
• Dedicated decision models, data storage and workflows for each client, complemented by an optional master decision model that applies to all clients
• Hierarchical group and user role model
• Support of multiple languages and time zones

Card processors can decide how they want to exploit the benefits of IRIS, and IRIS Analytics will provide the matching commercial terms to suit the usage model:

• Simply provide a technical platform to processing clients, and allow the client to manage the IRIS installation.
• The card processor takes on various operational duties for the issuer, against a fee, for example maintaining fraud models, fraud investigation, call centre fraud validation checks, etc.
• Provide a full-service fraud solution including loss insurance. By doing this, the card processor can deliver a high value service to the client and at the same time derive savings through economies of scale. The IRIS simulation environment will also play a role here, enabling the card processor to accurately assess the risk, and therefore the price, of the full-service product on a card-portfolio specific basis.