IRIS assists Tinkoff Bank to detect fraud patterns that involve multiple payment channels in real time. These types of fraud attacks typically result in major losses and can only be identified by profiling all payment and nonmonetary transactions by account holders and merchants.
IRIS offers functionality to provide transaction histories for any number and type of payment channels, the release said.
“Fraud in the Russian Federation is the fastest growing in Europe, with a 28 percent growth rate in 2013,” said Sergey Soldatov, general manager of banking for Wincor Nixdorf Russia. “At the same time, the Russian payments market is a high growth market, and I am sure that we will see significantly increased interest in IRIS in the near future. Tinkoff Bank is a thought leader in this area; others will follow.”
