IRIS Analytics is not only a software provider; our operations department is an essential part of our business model. As an outsourcing service provider, we develop and maintain the decision strategies for multiple card issuers and acquirers. This ensures fraud combating experience feeds back directly into the IRIS development process.
As a result, IRIS is always at least one step ahead of the latest fraud trends. Fraudsters do not stand still; neither does IRIS. This is perhaps the main reason why IRIS is – and will remain – the most progressive solution in its sector.
We have been involved in running fraud management operations in cost-sensitive environments since 1992. We know that
- every false alarm unnecessarily binds staff, disturbs customers and increases overall fraud management costs – reducing them is key to success;
- real-time operation is a decisive requirement to reduce fraud losses;
- rapid adaptation of the decision model (i.e. within the same business day) to new, emerging fraud trends is another decisive requirement to reduce fraud losses.
We have been working with high street banks, cross-border acquirers (PoS, ATM and CnP), payment service providers, and major card processors for many years. We know how to
- integrate IRIS into complicated legacy environments;
- fulfil even the most demanding requirements with respect to real-time transaction throughput in high performance environments;
- achieve high availability using standard computer hardware;
- keep the cost of operation as low as possible.
We have a strong focus on research of new technologies and respond quickly to new market requirements. We
- build our product roadmap together with our customers;
- continuously cooperate with academic research institutions to increase detection rates and reduce false alarms;
- maintain a software development model that allows us to add new fraud prevention capabilities as required and very quickly.
We are strongly focussed, customer centric, and very specialised:
- For us, each customer is important and receives the best quality of service and support.
- Each customer has direct access to business and technical experts.
- We act quickly and flexibly.
- It is in our own interest to deliver software which can be easily integrated, is easy to maintain and has a very low TCO.