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Comda­ta^® Corpo­ra­tion, a lead­er in pay­ment inno­va­tion, has deployed the IRIS fraud preven­tion solu­tion to protect all of its pay­ment meth­ods and combat card fraud. IRIS is deployed in data centers in both Brent­wood, Tenn, and Louisville, Ky.

IRIS is a soft­ware solu­tion that assess­es elec­tron­ic payments with respect to fraud and risk, inter­cept­ing suspi­cious tran­s­ac­tions within the autho­riza­tion process. IRIS detects typi­cal tran­s­ac­tion patterns of frau­d­u­lent customers and inter­cepts funds with­draw­al early on

“IRIS was the best solu­tion for us because it supports our 24/7 demands and has a high degree of config­ura­bil­i­ty that comple­ments the needs of busi­ness,” said Fred­dy Ramirez, vice presi­dent of risk manage­ment, Comda­ta. “IRIS Analyt­ics provid­ed us with at truly opti­mized prod­uct for our daily needs of fight­ing fraud.

As part of Comda­ta's vendor selec­tion process, Comda­ta conduct­ed a blind test in which it provid­ed a set of anony­mous tran­s­ac­tion data to be run through each vendor's system. Tran­s­ac­tions assessed to be frau­d­u­lent were then report­ed back.

“The IRIS blind test results exceed­ed our expec­ta­tions,” said Paul Cogswell, vice presi­dent of enter­prise risk and compliance at Comda­ta. “While our orig­i­nal scope was to prevent third-party relat­ed fraud, IRIS now acts as our second line of defense against appli­ca­tion fraud, thus mini­miz­ing the finan­cial impact of first pay­ment default.”

About IRIS^® 4

IRIS^® 4 is the flag­ship soft­ware prod­uct of IRIS Analyt­ics. It combines more than 15 years of real-time fraud preven­tion expe­ri­ence with state of the art soft­ware tech­nol­o­gy. IRIS is based on service orient­ed archi­tec­ture (SOA), can be imple­ment­ed with any IT envi­ron­ment, embraces open stan­dards and uses Inter­net browsers as user inter­face. The service orient­ed archi­tec­ture allows scal­ing IRIS from small appli­ca­tions with less than a million accounts with a very small foot­print to large appli­ca­tions with 100 million accounts and distribut­ed/redun­dant data centres. In stan­dard issuer type fraud preven­tion appli­ca­tions, a single IRIS instance can process up to 5'000 tran­s­ac­tions per second with laten­cies below a millise­cond. Each tran­s­ac­tion assess­ment includes eval­u­a­tion of tran­s­ac­tion specif­ic histo­ries (aka profiles) in multi­ple dimen­sions (aka finger­prints) to detect even the most complex fraud patterns secure­ly from genuine tran­s­ac­tions. One key differ­en­ti­a­tor of IRIS is that it does not rely on consor­ti­um data or any exter­nal provider to create high-qual­i­ty models. IRIS comes with a built-in model gener­a­tor that enables its users to create full deci­sion models within hours and incre­men­tal deci­sion models within just minutes. These models are complete­ly custom-built and fully adapt­ed to the specif­ic fraud patterns that occur in a given port­fo­lio. Because IRIS users do not have to rely on any exter­nal party, turn-around times for new models are dramat­i­cal­ly short­ened, direct­ly trans­lat­ing to loss savings.

About Comda­ta Corpo­ra­tion

Comda­ta^® Corpo­ra­tion is redefin­ing the move­ment of money and infor­ma­tion through inno­va­tive pay­ment solu­tions. Comda­ta provides custom solu­tions for a wide range of indus­tries such as tran­s­por­ta­tion, retail, govern­ment services, avia­tion, construc­tion, service busi­ness­es, restau­rants and hospi­tal­i­ty. Inno­va­tive elec­tron­ic pay­ment solu­tions range from cred­it and debit cards, fleet, fuel, payroll, purchas­ing and T&E. Comda­ta's plat­forms support both its propri­e­tary and brand­ed card networks. Head­quar­tered in Brent­wood, Tennessee, Comda­ta employs more than 1,100 people.
www.comda­ta.com

About Ceri­dian

Ceri­dian Corp. is a busi­ness services company that helps its customers maxi­mize the power of their people, lower their costs and focus on what they do best. The company's suite of inno­va­tive managed human resource solu­tions includes payroll and compen­sa­tion, employ­ee bene­fits admin­is­tra­tion, staff­ing, compliance, HR admin­is­tra­tion and Employ­ee Assis­tance Programs (EAP), work-life and health and produc­tiv­i­ty solu­tions. Ceri­dian serves busi­ness­es and employ­ees in the Unit­ed States, Cana­da and Europe. For more infor­ma­tion about the human resource outsourc­ing company's compre­hen­sive array of solu­tions, visit www.ceri­dian.com or call (800) 729-7655. Through its Comda­ta and Stored Value Solu­tions (SVS) subsi­diaries, Ceri­dian is a major pay­ment proces­sor and issuer of cred­it cards, debit cards and stored value cards, primar­i­ly for the truck­ing and retail indus­tries in the Unit­ed States.
www.ceri­dian.com

About IRIS Analyt­ics GmbH

IRIS Analyt­ics is a soft­ware and consult­ing company that devel­ops and markets the IRIS fraud preven­tion soft­ware prod­uct and relat­ed services to finan­cial service insti­tu­tions across Europe and North Amer­i­ca. The company was set up in 2007 in order to acquire assets and take over the busi­ness of IRS Intel­li­gent Risk Manage­ment Solu­tions GmbH, a subsi­diary of First Data Corpo­ra­tion, under the terms of a manage­ment buyout.

In addi­tion to the deliv­ery of turn-key solu­tions, IRIS Analyt­ics also provides relat­ed consul­tan­cy and profes­sio­n­al services surround­ing fraud preven­tion oper­a­tions. All senior consul­tants have more than 10 years of expe­ri­ence with day-to-day fraud fight­ing with world lead­ing pay­ment system providers. IRIS Analyt­ics is head­quar­tered in Bad Vilbel near Frank­furt, Germany.
www.iris.de