Product information
Preventing misuse in payment transactions
IRIS – Fighting fraud in real-time
Benefi
ts
Your benefi
t s:
▪▪ Real-time assessment of transactions
▪▪ Multi-channel integration
▪▪ State-of-the-art software
▪▪ Ultra high performance
▪▪ High hit rate with low ratio of false positives
▪▪ Less time needed to handle cases of fraud
▪▪ Hierarchical multi-tenancy
▪▪ Parameter adaptations possible during operation
▪▪ Low operating costs
Hacking, phishing and the misuse of payment card data
are great challenges for today‘s electronic payment
systems. What used to be relatively simple threat
scenarios have become complex, internationally
networked fraud systems. This situation demands an
equally sophisticated answer to the fight against
fraud – a comprehensive solution that:
▪▪ Can link information from a wide variety of payment
transaction systems and channels,
▪▪ Can incorporate information from other sources, such
as POS systems or automated teller machines (ATMs),
▪▪ Is integrated in real-time in the authorization process
and can thus prevent fraud from even happening,
▪▪ Enables an immediate reaction to new patterns of
fraud.
The solution
With IRIS, Wincor Nixdorf offers a solution package
that combines a modern, highly flexible approach to
recognizing attempts at fraud in electronic payment
transactions with specific consulting and integration
services.
IRIS stands out among fraud solutions through:
▪▪ Real-time prevention of fraud even with high transaction volume,
▪▪ A high hit rate with a low ratio of false positives even
on the basis of a small volume of transaction data,
▪▪ The option of parameter adaptations and simulation
during operation,
▪▪ An automated learning process,
▪▪ A cluster-based, highly available solution with
extensive scalability.
Portfolio-specific decisions
Uniform, globally applicable payment system rules are
just the first step in analyzing cases of misuse.
Card owners’ individual behavioral patterns and the
wide variety of card portfolios among financial institutions call for portfolio-specific decision models.
Protecting our customer from global, cross-channel fraud
Transaction I
new york
ATM
12
1
10am (2pm GMT)
withdrawal of
2 $ 500
3
9
4
8
7
6
5
7pm GMT
Online Shop
goods worth
€ 1,000
Transaction III
Transaction II
London
Supermarket
10am GMT
incl. cash back 11
£ 252 10
Nowadays highly skilled fraudsters operate as organized gangs
from multiple countries. Crosschannel schemes are becoming
the rule. The studies show that
the criminals use card account
numbers for purchasing the
goods or services within the first
24 hours after the theft via different channels. Thanks to IRIS the
fraudsters are not able any more
to complete unauthorized transactions in a store in London at
10 am; Make a withdrawal in
New York four hours later and at
the end of the day buy goods
worth 1000 EUR online.
Preventing misuse in payment transactions
Compact system with outstanding effect
With IRIS, Wincor Nixdorf continues to follow its approach of end-to-end monitoring and prevention of
fraud.
the use of various payment methods. Practice shows
that damage from fraud can be reduced by at least 50%
with IRIS – and with a low rate of false positives that is
still unrivaled.
IRIS offers protection against fraud in all types of transaction – card transactions, online banking and direct
debits – in just one system.
Simple startup
Easy to set up and integrate parameterization: IRIS’s
simple, easy-to-install solution is another argument in
its favor in the decision-making process.
The combination of information from a variety of payment systems and the inclusion of all types of transactions enables the optimum in holistic assessment of the
probability of fraud.
IRIS is based on a robust, service-oriented architecture.
Thanks to a comprehensive analysis technique known
as hybrid logic, IRIS analyzes – nonstop, in real time –
up to 10,000 transactions per second and recognizes
instances of fraud with the greatest reliability in just a
fraction of a second.
And it goes without saying that IRIS fulfills the PCI DSS
data security requirements of payment card organizations.
Strategic solution for banks and payment transaction
service providers
IRIS offers end-to-end hierarchical multi-client capability. In a single installation, this ensures that:
▪▪ Overarching and/or customer-specific decision models can be realized,
▪▪ The individual demands of separate organizational
units can be met (access rights, task distribution,
multi-language support, etc.).
Furthermore, with IRIS acquires protect themselves
and their retailers from payment default and optimize
Expert knowledge of banking-specific solutions
Wincor Nixdorf’s many years of experience in solutions
for the detection and combat of payment fraud have
been channeled into its product portfolio. The experts
at Wincor Nixdorf will develop an offer specifically tailored to your institution, and be at your side from the
planning phase to implementation and all the way to
operation.
The IRIS portfolio includes:
▪▪ Integration in authorization processes,
▪▪ The effective, practice-oriented organization and integration of processes for post-processing and claim
settlement,
▪▪ A service for ongoing adaptations of the decision
model while the solution is operating.
Published by
Wincor Nixdorf International GmbH
Heinz-Nixdorf-Ring 1
33106 Paderborn
Germany
Phone: +49 (0) 52 51 / 6 93-3301
Fax: +49 (0) 52 51 / 6 93-5918
info.banking@wincor-nixdorf.com
www.wincor-nixdorf.com
© Wincor Nixdorf International GmbH
Printed in Germany, October 2012