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.

Nikolaus D. Bayer, managing director of IRIS Analytics, explains: “Since obtaining PA-DSS approval for the first time in 2013, we have received overwhelmingly positive feedback from our customers who claim that the efforts and pain related to obtaining PCI DSS certification have reduced significantly as a result.”

For example, the total integration of PCI DSS into the IRIS product is demonstrated by the ability for customers to carry out self-assessment. At the press of a button a complete status report on the PCI DSS compliance status of the customer’s current use and configuration of IRIS is generated. Also, sensitive data such as a credit card numbers are persistently stored using strong encryption, this way preventing data breaches by cyber criminals.

“PCI DSS certification and other forms of industry compliance are typically highly labour-intensive and complicated processes,” added Mr Bayer. “This task is now eased considerably for our customers, in particular because PA-DSS goes as far as auditing our software development and support processes, one of the PCI DSS requirements imposed on our customers.”

PA-DSS certification  offers IRIS Analytics’ clients five key benefits:

• Save money without neglecting security. (Instead of carrying all the costs of making their systems comply with PCI DSS, PA-DSS compliant software means they are sharing those efforts with other licensees of the software.)
• No need to develop customised software for transaction monitoring and fraud prevention. (PCI DSS mandates that third party software must be PA-DSS compliant.)
• No need to audit the software development and support processes of the supplier of your fraud prevention software for compliance to PCI DSS. (This is already part of the PA-DSS audit.)
• No need to buy additional encryption software or database add-ons to securely store cardholder data. (This is all included in the IRIS software.)
• No further need to fear pentesting. (Extensive pentesting is already part of the PA-DSS audit, before software is delivered to the client.)

NOTE TO EDITORS

For more information, contact Denise Gee at MagnaCarta PR on +44 (0) 779 376 8109  denise@magnacartapr.com

IRIS Analytics provides technology and consultancy services to the payments industry to beat electronic payment fraud. It develops and markets the IRIS off-the-shelf fraud prevention platform which powers real-time fraud scoring across the full range of electronic payment channels, including credit, debit, prepaid, online and mobile. IRIS enables payment processors, switches, payment service providers, wallets and issuers across the world to analyse and respond to complex fraud patterns in real time, staying one step ahead of evolving, unanticipated fraud threats.