IRIS supports all the business processes and workflows needed to establish superior fraud prevention within your enterprise. Its real-time decision service assesses transactions interactively and intercepts those with a high possibility of fraud. Other IRIS modules provide simulation and analyses, reporting, auditing and case investigation workflows.

IRIS supervises all relevant transaction streams, enabling cross-channel decision making.

Thanks to its powerful simulation, analysis and model generation functions built on top of its real-time data management core, decision models can be adapted to changing fraud and risk situations as soon as new threats emerge.

Leveraging IRIS’s flexible decision modelling capabilities further, “policy rules” can be added that enable decision making beyond hard fraud and risk facts, reflecting on the user’s business policies (e.g. no declines for VIP customer accounts).

IRIS implementations are straightforward and do not require massive investment of IT resources. There is no need to invest in third party software such as external databases, application servers or middleware to get IRIS up and running.

Instead, IRIS as a standard product is just configured to the customer’s requirements, and all complex processing steps are fully encapsulated within IRIS. IRIS users report implementation times as short as three months.

It is only natural that requirements change over time. When it comes to fighting fraud, an uncontrollable third party is significantly involved in setting or modifying these: the fraudsters themselves.

We have therefore taken great care that IRIS can easily be adapted to new or changed requirements:

• Thanks to IRIS’s multi-channel approach, new data streams and data attributes can be added easily by configuration, and monitored in conjunction with the data streams already implemented.

• IRIS users report implementation efforts of as little as 10 to 20 man-days for an online real-time interface (including testing efforts). Batch interfaces can be implemented even faster – measured in hours rather than days.
• Using IRIS’s open API (which is used by the IRIS web front end itself), additional functionality can be easily added, for instance custom reports, or further integration with third party software. Such customisation may be delivered either by IRIS Analytics or by the customer himself.

By using IRIS, the fraud issue ceases to be an aggravating, business inherent burden, allowing you not only to boost system profitability, but also helping you secure customer confidence in your enterprise and protect your brand value.

IRIS optimises fraud and risk control with respect to the primary goals:

• Maximise savings

Fraud losses can endanger the profitability of entire business lines. On the other hand, reduction of fraud losses has an immediate impact on the profitability of the respective line of business. Finally, less fraud losses mean less fraud management costs.

• Minimise customer disruption attributable to any fraud related matters

Minimising false alarms is key to most efficient fraud management. It ensures maximum customer satisfaction and optimises fraud management costs.

Each time a customer experiences a disruption – be it reporting a fraudulent transaction, answering a security check call, responding to a voice referral at a merchant, or a declined transaction – the customer's satisfaction with the service is put at risk.

IRIS defends customers from fraud attacks while operating at very low false positive ratios – this ensures ongoing customer satisfaction.

• Reduce TCO

IRIS is easy to integrate, runs on standard hardware, can be easily adapted to changing requirements, covers multiple lines of business in a single application, and can be fully operated by in-house staff: all these factors lead to an industry-leading low TCO.