Leading global provider of IT solutions,
Wincor Nixdorf announced that it is joining forces with fraud
prevention software provider, IRIS Analytics in order to reduce
fraud on electronic payment transactions.

Wincor Nixdorf will distribute the software
product IRIS on a global scale and also offer it to customers as an
integral part of its ProClassic/Enterprise Retail Banking Solution
Suite.

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“Criminals work in global networks, are very
creative and act quickly“, said Hanns-Michael Hepp, managing
director of IRIS Analytics. “IRIS is a highly flexible, proactive
tool for fraud protection that enables our customers to detect
complex interrelationships as early as possible and prevent
misuse.”

IRIS follows a multichannel strategy,
combining and evaluating information from any payment channel
desired. Data from card-based transactions, online banking or
mobile banking can be linked and analyzed in real time. Highly
suspicious transactions can be rejected directly during the
authorisation process.

When it comes to online banking, IRIS also
reacts to unusual behaviour, such as someone accessing an account
from an IP address that has never been used before and attempting
to transfer money to a suspicious target account, or trying to
withdraw a large amount of cash from an ATM shortly afterwards.

Johann Praschinger, head of Payment Solutions
at Wincor Nixdorf said: “Fraud is one of the biggest challenges in
the electronic payments arena these days and we make sure that our
customers aren’t left out in the rain.”

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