IRIS for retail banks

With respect to fraud in electronic payments, a modern retail bank must combat highly skilled fraudsters that operate as organised gangs from multiple countries. For retail banks, this means that fighting fraud is a different challenge. For example:

• Fraud can be executed across multiple banking channels, e.g. an account takeover, followed by an account to account transfer, followed by a credit card ATM withdrawal.
• Nonetheless, each banking channel faces unique fraud threats, e.g. online banking fraud patterns have different characteristics compared to credit card fraud patterns.

IRIS has been crafted as a multi-channel solution enabling holistic fraud management. A single investment in IRIS protects all your applicable business lines from fraud damage and can also alert you about money laundering activities.

IRIS supervises all relevant transaction streams, at the same time providing fully independent decision-making for individual transaction streams and/or multiple sub-portfolios, all within a single installation.

Irrespective how unique your bank’s business model is, IRIS’ decision modelling capabilities are flexible enough to cope. IRIS gives you full control over your decision making strategy, and can be operated fully autonomously without the need for intervention by IRIS Analytics staff. IRIS users thus maximise their return on investment while reducing total cost of ownership.