IRIS Analytics and Société d’Exploitation de Réseaux et de Services Sécurisés (SER2S), a subsidiary of Groupe Cartes Bancaires CB, are announcing today the deployment of a crucial network-based transaction scoring system that tightens security for more than 75% of French payment cards. The product has been supplied and configured by IRIS Analytics for SER2S to address new fraud patterns and schemes that are difficult to detect with the deployment of traditional fraud prevention measures.

The Director of Operations at Cartes Bancaires, Antoine Sautereau, played a leading role in selecting IRIS and implementing new fraud models. He says: “Although EMV by itself is successful in verifying payment cards, an authentic card says nothing about the legitimacy of the parties requesting and accepting the payment. We elected to move ahead of current best practices for payment security by putting transaction profiling right at the core of the French national payment network.”

IRIS Analytics has received PA-DSS approval for its latest version of the IRIS 5 real-time transaction monitoring software. IRIS 5 meets all the strict data security requirements  specified by the Payment Card Industry Security Standards Council.  The Payment Application Data Security Standard (PA-DSS) covers all areas of security management, policies, procedures, network architecture, software design and other critical protective measures.

Hanns-Michael Hepp, co-founder of IRIS Analytics GmbH, is moving from his position as Managing Director to Chairman of the Advisory Board of the Neu-Isenburg, Germany based company that specialises in the prevention and control of electronic payment fraud.

Mr Hepp, for many years a prominent figure in the German banking industry, established IRIS Analytics GmbH in 2007. Mr Hepp and a hand picked team of payment fraud experts challenged the then state-of-the-art approach to fraud prevention based on neural network technology, and developed IRIS, a solution which leverages the very latest thinking in in-memory data analysis and management.

QIWI wanted to defend and improve its reputation in the market as a reliable and trust-worthy payment platform. IRIS Analytics was able to meet this requirement, and others, in an implementation that was delivered in just five weeks. Read more in the case study.