What is IBM Safer Payments?
IBM Counter Fraud Management for Safer Payments is an end-to-end solution for preventing fraud in all cashless payment channels. Used by some of the largest portfolios in the world, the solution offers superior fraud detection accuracy and greatly reduced false alarms. It can be used for issuers, acquirers, payment switches, multi-channel or online banking, and alternative payments.
IBM Counter Fraud Management benefits
- Cognitive computing: Helps bridge the gap between expert-driven rules and traditional (black box) predictive modeling by letting you apply artificial intelligence interactively or automatically to find the "best fit" model.
- Adapt faster: Allows you to address new and evolving episodic threats by rapidly developing, testing and deploying countermeasures.
- More control: Provides white box based analytics to give you visibility into model results, the control to adapt models quickly without vendor input, and the flexibility to apply new countermeasures in minutes without programming skills.
Cognitive computing approach
- Uses interactive machine learning from past data to generate expert rules and scenarios.
- Enables you to create and change models in minutes, using less data, to understand both lift and false positives before production deployment.
- Provides fast automated learning, allowing you to adapt payment models up to many times per week. This can enhance early fraud detection and reduce false positives.
- Offers advanced analytics techniques to help you build models with machine assistance.
- Provides a virtual simulation test bed, enabling you to quickly create and test new fraud countermeasures before putting them into production.
Multiple channel and dimensional analysis
- Adapts to the requirements of different payment channels and lines of business including credit or debit card, POS, ATM, e-commerce and online/mobile banking.
- Allows profiling entities across payment channels to help detect inter-channel fraud.
- Enables profiling of past behavior, in any historical dimension, of a cardholder, accountholder, merchant, terminal, ATM, POS and more.
- Provides a full query module and configurable reporting capabilities, as well as a customizable dashboard that displays configurable alarms and KPIs.
Fast deployment and adaptation
- Enables you to deploy and configure in full production mode within weeks, instead of months.
- Allows you to inspect rules, use production data, review outputs and evaluate rule effectiveness without stopping the system.
- Payment Card Industry-Data Security Standard (PCI-DSS) certified.
- Provides support for AML, CFT and PEP monitoring.
- Enables you to operate a multi-tenant environment from a single software installation.
High speed, scale and accuracy
- Proven in real-world environments with industry-leading false positive ratios in the 1:1-1:3 range.
- Allows you to process thousands of transactions per second with latencies of a few milliseconds.
- Operates at high availability.
- Integrates with other IBM software—such as IBM i2, IBM SPSS, IBM Cognos, IBM Trusteer and IBM DB2—for extended fraud investigation and data analysis.