Russian next generation payment services provider QIWI selected IRIS Analytics and Wincor Nixdorf for fraud prevention system.
Under the deal, QIWI will deploy IRIS Analytics’ IRIS 5 platform to safeguard its network of over 100,000 self-service kiosks and 15 million e-wallets.
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IRIS Analytics said that all fraud model generation is incorporated for the prevention of the specific fraud patterns QIWI had been experiencing.
QIWI chief security officer, Anton Kuranda, said: "By using IRIS, we were able to analyse the denomination of banknotes inserted, profile the kiosks and follow the money trail through our Visa QIWI Wallet. We were able to prevent fraud while continuing to accept banknotes".
Wincor-Nixdorf Russia general manager of banking, Sergey Soldatov, added: "IRIS provides unique value to QIWI by combining transaction streams of financial data for all lines of business with non-financial transactions, and does so in real-time."
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