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Bundled exper­tise brings greater secu­ri­ty to elec­tron­ic pay­ment tran­s­ac­tions: Wincor Nixdorf, one of the world’s lead­ing providers of IT solu­tions for retail banks and retail­ers, and IRIS Analyt­ics, lead­ing provider of real-time fraud preven­tion soft­ware for elec­tron­ic pay­ment tran­s­ac­tions, will be work­ing together close­ly in the future. Wincor Nixdorf will distribute the soft­ware prod­uct IRIS on a glob­al scale and also offer it to customers as an inte­gral part of its ProClas­sic/Enter­prise Retail Bank­ing Solu­tion Suite.

IRIS follows a multi-chan­nel strat­e­gy, combin­ing and eval­u­at­ing infor­ma­tion from any pay­ment chan­nel desired.  Data from card-based tran­s­ac­tions, online bank­ing or mobile bank­ing can be linked and analyzed in real time. High­ly suspi­cious tran­s­ac­tions can be reject­ed direct­ly during the autho­riza­tion process with a hither­to unmatched accu­ra­cy. For exam­ple, if an autho­riza­tion comput­er receives two autho­riza­tion requests for the same debit or cred­it card more or less at the same time from Moscow and New York, the solu­tion can reject the autho­riza­tion and thus prevent misuse. When it comes to online bank­ing, IRIS also reacts to unusu­al behaviour, such as some­one access­ing an account from an IP address that has never been used before and attempt­ing to trans­fer money to a suspi­cious target account, or trying to with­draw a large amount of cash from an ATM short­ly after­wards. “Crim­i­nals work in glob­al networks, are very crea­tive and act quick­ly“, says Hanns-Michael Hepp, Manag­ing Direc­tor of IRIS Analyt­ics. “IRIS is a high­ly flex­i­ble, proac­tive tool for fraud protec­tion that enables our customers to detect complex inter­re­la­tion­ships as early as possi­ble and prevent misuse.” “Fraud is one of the biggest chal­lenges in the elec­tron­ic payments arena these days”, Johann Praschinger, Head of pay­ment Solu­tions at Wincor Nixdorf, and he adds, “and we make sure that our customers aren’t left out in the rain in this respect.”

Through this part­n­er­ship, Wincor Nixdorf and IRIS Analyt­ics offer their customers state-of-the-art tech­nol­o­gy, exten­sive know-how and a coor­d­i­nat­ed strat­e­gy for more secure pay­ment tran­s­ac­tions. “Our end-to-end secu­ri­ty concept ProTect provides our bank­ing customers’ card hold­ers with effec­tive protec­tion at ATMs and termi­nals; with IRIS, we’re extend­ing this protec­tive shield to the other pay­ment chan­nels, too”, says Johann Praschinger. The main focus is on reduc­ing all fraud-relat­ed costs and increas­ing customer satis­fac­tion. When­ev­er there is reason to suspect that customer data has been compro­mised, the respec­tive cards and accounts can be kept under special surveil­lance through IRIS. “The cards in ques­tion are only replaced in the case of an actu­al fraud attack. This helps prevent cost­ly, repu­ta­tion-damag­ing mass replace­ments.“, Johann Praschinger adds. The IRIS tech­nol­o­gy there­fore allows fraud attacks by organized crim­i­nals to be avert­ed with­out notab­ly affect­ing permis­si­ble tran­s­ac­tions.