IBM Safer Payments

Fraud PREVENTION vs Fraud Detection

IBM Safer Payments is a Next Generation Fraud Prevention platform that enables your team to more effectively identify and stop fraudulant payments BEFORE the money leaves the facility. As a true AI-based solution, Safer Payments allows your team to adapt their controls faster to emerging threats and detect fraud with greater speed and accuracy without vendor or data scientist dependencies.

It offers agile, real-time model refinement in a sand-box environment so your team can continuously monitor business performance and quickly adapt the decision model to emerging and modified fraud patterns. 

And, you can easily integrate your existing rules. With an open platform, customers can leverage their existing detection models and IP all at a low total cost of operation (TCO) as all required components are self-contained and run on commodity hardware.

Safer Payments Product Highlights

Next-generation approach

• Enables you to use any data science, any machine learning, and artificial intelligence technique – from any vendor or open source – to outsmart fraudsters.

All channel solution

• Includes specific functionality to protect cards, online banking, and real-time payments.
• Profiles behavior and payment flow through all channels for lower false positives and reduced fraud losses.

Freely configurable

• Everything in Safer Payments is user-configurable. 
• New data feeds can be configured in minutes.

Bring your own model

• Build neural networks, random forests, decision trees, and regressions, using your preferred tools.
• Combine models of different types into ensembles, to leverage the best of each modeling technology.

In-memory NoSQL database

• Database technology delivers peak performances of multiple thousand transactions per second on commodity hardware and any cloud.

Multi-model and IBM Watson

• Runs any number and types of fraud prevention models.
• Watson cognitive AI assists with creation of decision rules on how models are applied for specific transactions.

The SPS Advantage

SPS provides a full portfolio of services that can enhance the ROI of the Safer Payments platform.

• Cost-effective implementation
• Cloud-based implementation that can minimize initial start-up costs.
• Enhanced integration with other back-end systems
• Additional cyber security features

Key Results

• Reduce Net Fraud 70%
• Reduce False Positives by 90%
• Built for 24/7 operation and 99.999% availability
• New Fraud Pattern Rules Tested and Implemented in DAYS
• Maximum Latency as low as 3.5 Milliseconds