20 Sep, 2021, 07:00 ET
INETCO BullzAI lets financial institutions and merchants detect and block payment fraud with granular precision, reducing false positives and fraud losses
VANCOUVER, BC, Sept. 20, 2021 /PRNewswire/ - INETCO Systems Limited, a leader in real-time payment fraud prevention, is pleased to announce the launch of INETCO BullzAI, which combines a web application firewall with a real-time payment fraud detection and blocking system in one elegant solution.
INETCO BullzAI enables merchants, issuers, acquirers and processors to detect and surgically block fraudulent payment transactions before they complete – something other fraud solutions cannot detect or action until after the transaction completes. It can detect and block individual transactions in milliseconds, without interrupting legitimate payments. The benefits include fewer false declines, reduced fraud losses, increased customer satisfaction and revenue, and reduced back-office costs for disputes and chargeback processing.
"INETCO BullzAI represents the next evolution in payment fraud detection," says Ugan Naidoo, CTO of INETCO. "Fraud detection efforts tend to be piecemeal, due to the number of players in a payment ecosystem, and the number of solutions implemented at different steps in the payment journey."
Instead of this fragmented approach, INETCO BullzAI captures, decodes, correlates and analyzes each payment transaction as well as every one of the message fields in real-time, from start to finish. Using this data, INETCO BullzAI is able to detect anomalies in a transaction using a card/customer specific machine-learning model paired with behavioral analytics. This enables real-time risk scoring for every individual customer – instantly updated every time a transaction occurs. The result is greater precision and timeliness in fraud detection and reduced false positives and false negatives. INETCO BullzAI can either replace or augment an existing payment fraud detection solution.
"INETCO is dedicated to delivering world-class payment security solutions to issuers, acquirers, merchants and payment providers," says Bijan Sanii, CEO of INETCO. "We have a proven track record of increasing the safety and stability of payment transactions, and are excited by the potential we see for BullzAI to significantly reduce the impact of payment fraud and to help our customers provide the best possible experience to their customers."
INETCO builds smart technology that increases the reliability, safety and value of every digital and self-service payment. Our real-time transaction monitoring and analytics platform, INETCO Insight, has been selected by leading banks, payment service providers and retailers in over 35 countries to accelerate their digital transformation strategies and to speed up the detection of payment fraud and performance issues that threaten to impact revenue, reputation and end customer experience. www.inetco.com
INETCO, INETCO Insight, INETCO BullzAI, the INETCO logo, and the INETCO Insight logo are trademarks or registered trademarks of INETCO Systems Ltd. All other trademarks are the property of their respective owners.
SOURCE INETCO Systems
Share this article