IBM Acquires A Real-Time Analytics Company To Combat Payment Fraud

Shares of International Business Machines Corp. (NYSE: IBM) hit a new 52-week low of $129.93 on Friday despite the company announcing that it has acquired a fraud detection analytics company. IBM confirmed that it acquired IRIS Analytics, a privately held company that specializes in real-time analytics to combat payment fraud. IBM noted in its press release that a proprietary study showed that only 16 percent of banks could detect fraud as it is attempted. The company added that IRIS combats this ongoing problem as it “provides a real-time fraud analytics engine that leverages machine learning to generate rapid anti-fraud models while also supporting the creation and modification of ad-hoc models, proven successful on various sized payment platform.” IBM added it will combine IRIS’ analytics abilities with its counter fraud technology…


Link to Full Article: IBM Acquires A Real-Time Analytics Company To Combat Payment Fraud