FIS Integrates IBM Fraud Detection Solution to Help Clients Tackle Person-to-Person Payments Fraud in the U.S.
“As consumer usage of real-time P2P services continues to grow at a rapid rate, banks and other financial institutions need advanced ways to identify and prevent fraudulent transactions on even small-dollar amounts. FIS has integrated IBM Safer Payments within its P2P payment products offered to FIS clients in the U.S. The enhanced offering uses artificial intelligence and machine learning to monitor high-volumes of P2P transactions and provide real-time detection and decisioning. Since integrating the IBM Safer Payments fraud detection solution, FIS has seen a significant reduction in attempted and completed fraudulent transactions as reported by its P2P payment services clients.”