IBM tackles payment fraud with IRIS Analytics buyout

News: IRIS’ advanced machine learning helps clients adapt and react against sophisticated attacks. IBM has acquired German payment fraud analytics company IRIS Analytics. Founded in 2007, IRIS Analytics delivers technology and consultancy services to the payments industry to help fight electronic payment fraud. IRIS offers a real-time fraud analytics engine that uses machine learning to generate rapid anti-fraud models. It also supports the creation and modification of ad-hoc models on several sized payment platforms. Several banks and payment processors across the world use IRIS technology. French payment clearing vendor STET depends on the IRIS platform to screen 5.5 billion debit and credit card purchases annually. IBM will integrate IRIS Analytics with its counter fraud technology to help organisations more accurately detect fraud and help them respond rapidly by lowering the…


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