Payments technology and consultancy provider IRIS Analytics has announced a partnership with Zoot, a credit services company, to tackle electronic payment fraud.
The deal aims to give Zoot customers access to an IRIS ‘cloud’, providing them with real-time fraud prevention.
Scoring over 2,000 transactions each second, and with a response time below 5 milliseconds, the IRIS solution covers all banking channels and has been applied by customers across the Middle East, North America and Europe.
Commenting on the news, Nikolaus Bayer, managing director of IRIS Analytics, said: "Zoot’s extensive experience and world-leading SaaS infrastructure is not simply a means of helping us establish a SaaS version of IRIS.
"IRIS and Zoot customers can now benefit from an out-of-the-box integration via Zoot’s zLinkSM solution that enables access to complementary data – such as credit agencies – without any additional implementation effort.
"These enhanced data sources further increase the effectiveness of IRIS’ payment fraud prevention," he added.
Speaking on behalf of Zoot, Mischa Schmierer, vice president of solutions and services, said: "Agility is a key factor to successfully fighting fraud.
"This joint offering lowers customers’ internal IT efforts and costs, speeds up time-to-market and provides unrivalled agility. Zoot’s clients will greatly benefit from access to IRIS’ fraud prevention services," he added.