STRATEGIC PARTNERS
Wincor Nixdor worked with Tinkoff Bank to implement IRIS, which provides transaction histories for any number and type of payment channels.
January 30, 2015
Tinkoff Bank of Russia, a provider of online retail financial services and one of the largest credit card issuers in the country with 4.8 million cards issued, has selected IRIS from IRIS Analytics as its central fraud prevention system for acquiring, issuing, online banking and e-wallet.
A press release said that IRIS has been provided to Tinkoff Bank by Wincor Nixdorf, a partner to IRIS Analytics in worldwide sales, implementation and post-sales support.
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."
Tinkoff Bank is the only fully branchless bank in Russia, and operates through an advanced financial services platform that provides deep reach across the country, according to Anatoli Makeshin, vice president of payment systems and a member of the Tinkoff Bank management board.
"The quality of the client service, be it consumers or merchants, is paramount to us and we invest in technologies that help us ensure the security of our clients' transactions," he said in the release. "IRIS enables us to provide the best possible protection against payment fraud with minimum customer disruption, thus adding significantly to our ability to meet our customers' needs."
