IBM Buys IRIS Analytics for Fraud Detection Expertise

IBM’s acquisition of IRIS Analytics brings new machine learning-powered fraud detection to the IBM portfolio. IBM today announced that it has acquired IRIS Analytics, a privately held company specializing in real-time analytics to help combat payment fraud.Based in Koblenz, Germany, IRIS offers a real-time fraud analytics engine that uses machine learning to generate rapid anti-fraud models. It also simultaneously supports the creation and modification of ad-hoc models proven successful on various sized payment platforms, IBM said.Financial terms of the deal to acquire IRIS Analytics were not disclosed. IRIS Analytics is IBM’s first acquisition of 2016.The IRIS technology acts as a “virtual analyst” to help identify new fraud patterns, and it applies machine learning models to help analysts detect fraud and act quickly to help reduce fraudulent events, the company said.…


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