IRIS fraud prevention solution wins MPE Award

The IRIS 5 fraud prevention solution from IRIS Analytics won the prestigious ‘Guiding Hand Data Security Award’ at Merchant Payment Ecosystem (MPE) 2014.

The Data Security Award goes to the acquirer, the processor, the network services provider, the payment services provider, the payment scheme, the MNO or the solution provider, which has the best performing security system, as expressed by merchant satisfaction, fraud rates or security breaches.

“Preventing fraud in all forms of electronic payment is our sole focus,” says Nikolaus Bayer, joint managing director of IRIS Analytics. “All our employees spend 100% of their time enabling our customers to manage their payment fraud and risk better. We are grateful that the work delivered to our clients is being recognised and rewarded. In the past year we have successfully dealt with challenging large-scale implementations. Each of these implementations - for example in France in the past year and most recently in Russia - involves real-time processing of several billion transactions annually."

IRIS Analytics won this award for its innovative IRIS 5 solution.

“Fraud is the number one enemy in electronic commerce and mobile payments today. Fraudsters manage, using the finest new techniques and taking advantage of the combinations of so many new payment instruments, to make fraud the highest growing segment in electronic payments today” says Leon Dhaene, chairman of the Guiding Hand Awards. “The jury appreciated the fact that IRIS Analytics managed to include data on cards, wallets, alternative payment instruments, private label tools, and the multiple traditional and alternative payment methods, in their real-time transaction monitoring,” Leon adds.

IRIS 5 operates in real time, all the time – even during peak periods. IRIS is an off-the-shelf solution, which comes with an open, highly configurable architecture to cater optimally for our customers’ diverse needs. It is scalable to suit customers of all sizes. It has the capacity to score more than 5,000 transactions per second with response times of less than 5 milliseconds. Fully PA-DSS approved, it is being used by customers across Europe, the Middle East and North America.

Contacts: Denise Gee at denise.gee@iris.de      UK telephone: 44 779 3768109

or Simon Hardie at simon.hardie@iris.de         Turkey telephone:  90 534 7999274

or Richard Dymond at richard@magnacartapr.com UK telephone: 44 7977 242 573

IRIS Analytics provides technology and consultancy services to the payments industry to beat electronic payment fraud. It develops and markets the IRIS off-the-shelf fraud prevention platform which powers real-time fraud scoring across the full range of electronic payment channels, including credit, debit, prepaid, online and mobile. IRIS enables payment processors, switches, payment service providers and issuers across the world to analyse and respond to complex fraud patterns in real time, staying one step ahead of evolving, unanticipated fraud threats.