Wincor Nixdorf, a provider of IT solutions for retail banks and retailers and Iris Analytics, a provider of real-time fraud prevention software for electronic payment transactions, have entered into partnership to offer their customers with technology and a coordinated strategy for secure payment transactions.
Wincor Nixdorf will distribute the software product Iris globally and also offer it to customers as an integral part of its ProClassic/Enterprise Retail Banking Solution Suite.
The main focus will be 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.
Iris follows a multichannel 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.
Hanns-Michael Hepp, managing director of Iris Analytics, said: “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.”
Johann Praschinger, head of payment solutions at Wincor Nixdorf, said: “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. The cards in question are only replaced in the case of an actual fraud attack. This helps prevent costly, reputation-damaging mass replacements.”