Tinkoff Bank, Russia’s leading provider of online retail financial services and a large credit card issuer with 4.8 million cards issued, has selected IRIS Analytics’ fraud prevention solution, IRIS, as its central fraud prevention system for all payment channels. This includes acquiring, issuing, e-wallet, and online banking.

IRIS has been provided to Tinkoff Bank by Wincor Nixdorf, key partner of IRIS Analytics for worldwide sales, implementation and post-sales support. The Wincor Nixdorf Russia organisation was quick to see the potential of IRIS in their market, and this is their second new business win with IRIS.

IRIS puts Tinkoff Bank into the unique position of securely detecting fraud patterns that involve multiple payment channels in real-time. These types of fraud attacks typically involve major losses and can only be identified by profiling all payment and non-monetary transactions of account holders and merchants. IRIS contains unique functionality that enables merging transaction histories for any number and type of payment channels.

Anatoli Makeshin, VP for Payment Systems and member of the Management Board at Tinkoff Bank, comments: “Tinkoff Bank is the only fully branchless bank in Russia which operates through a high-tech financial services platform providing us deep reach all over the country. The quality of the client service, be it consumers or merchants, is paramount to us and we invest in technologies that help us ensure the security of our clients’ transactions.  IRIS enables us to provide the best possible protection against payment fraud with minimum customer disruption, thus adding significantly to our ability to meet our customers’ needs.”

Constantin von Altrock, Managing Director of IRIS Analytics, adds: “We are delighted to welcome TCS to our Russian user base. Our specialists, closely working together with the TCS team were able to get to live production of the first channel -- acquiring -- in only eight weeks. This included the implementation of the real-time transaction interface as well as the training of TCS’ fraud experts, who were then able to create their own custom decision model for day one operation.”

Sergey Soldatov, General Manager Banking of Wincor-Nixdorf Russia, concludes: “Fraud in the Russian Federation is the fastest growing in Europe, with a 28% growth rate in 2013. At the same time, the Russian payments market is a high growth market, and I am sure that we will see significantly increased interest in IRIS in the near future. TCS Bank is a thought leader in this area, others will follow.”

About Tinkoff Bank

Tinkoff Bank is an innovative provider of online retail financial services operating in Russia through a high-tech branchless platform. The bank was founded in 2006 by a Russian entrepreneur Oleg Tinkov to service clients in the credit card market. In 2009, the bank started to attract retail deposits, and is a member of the national deposit insurance system.

As of 1 November 2014, the bank issued 4.8 m credit cards. According to the Bank of Russia data as of 1 October 2014, Tinkoff Bank controls 6.7% share of the Russian credit card market.

Net income of the parent company TCS Group Holding PLC, which includes Tinkoff Bank and the insurance company Tinkoff Online Insurance, amounted to RUB 2.8 bn in 9M 2014 (IFRS).

In 2013, The Banker magazine, the world's premier banking and finance resource and Financial Times Group member, named Tinkoff Bank the Bank of the Year in Russia. In 2012, Global Finance magazine and Banki.ru portal presented Tinkoff Bank with the Best Internet Retail Bank in Russia award. In 2014, the internet bank of Tinkoff Bank was deemed the most effective in Russia by Markswebb Rank & Report agency. Tinkoff Bank is a member of the deposit insurance system (starting October 2008, the system has guaranteed each depositor of member banks the payout of RUB 700,000 on deposits and current accounts, including interest income).

https://www.tcsbank.ru/eng/

About IRIS Analytics

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.

http://www.iris-analytics.com/en/

About Wincor Nixdorf

Wincor Nixdorf is one of the world’s leading providers of IT solutions and services to retailers and retail banking. The company’s extensive portfolio is centered around optimizing business processes at banks and retail companies. It is aimed mainly at cutting costs and complexity and improving service to the end customer. Wincor Nixdorf leverages know-how from its core business with banks and retailers to diversify into related sectors. These include postal companies and service station chain operators. Wincor Nixdorf has a presence in over 130 countries, with its own subsidiary companies in 42 of these. Approximately 9,000 employees work at the Group. The company is the leader in Europe and the number 2 in the world for programmable electronic POS systems (EPOSs) and for automated teller machines.

http://www.wincor-nixdorf.com

Note to editors

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