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ISW’s Secure Payments Service
Fraud & AML Monitoring powered by IBM Safer Payments. Quickly and securely monitor and protect your payments processing platform from fraud.
WHAT IS ISW SECURE Payments?
ISW Secure Payments is a comprehensive, hosted service tailored to meet the unique needs of each customer. Designed to streamline the processing of transactions from your backend systems, our solution offers robust fraud and anti-money laundering (AML) checks.
Our platform seamlessly integrates with your existing backend infrastructure, eliminating the need for any additional preparatory work on your end. We handle all necessary message transformations, offering you a hassle-free experience.
Built on a resilient, multi-instance, highly available framework, ISW Secure Payments serves as a dependable foundation for your fraud and AML risk management needs. Each deployment is customised to align with your specific requirements, ensuring an optimised solution for your organisation.
Our system leverages both rule-based and machine-learning algorithms to scrutinise behavioural and fraudulent activity. It not only creates predictive models for emerging threats but also suggests effective countermeasures. Unlike opaque models, ours are transparent and easily understandable, providing clearly defined rules and scenarios.
Powered by artificial intelligence and benefiting from decades of human expertise, ISW Secure Payments excels in creating intricate behaviour profiles and fraud prevention scenarios. This allows for quicker model updates and requires less data for model training, leading to higher fraud detection rates and significantly reduced false positives.
Simplified, Tiered Pricing for Comprehensive Service
At ISW Secure Payments, we believe that simplicity and transparency are key when it comes to pricing. That's why we offer a tiered, transaction volume-based pricing model that encompasses all the features and services we provide. This straightforward pricing approach eliminates the complexity often associated with a la carte pricing models, where each component is billed separately. With our inclusive pricing structure, you can easily anticipate costs and focus more on leveraging the full capabilities of our platform to meet your fraud and AML risk management needs.
Additional Features and Customisation Options
ISW Secure Payments offers an advanced, comprehensive solution for fraud and AML management, with a range of optional enhancements tailored for your unique business needs. Alongside our core features, such as built-in message integration and transformation and email and SMS gateways for real-time alerts, the following add-ons and options further elevate your fraud prevention and customer interaction capabilities.
Custom Machine Learning Models Add-On
For those looking for a more bespoke solution, we offer the option to develop custom machine learning models in collaboration with your in-house fraud team. These custom models enhance our built-in capabilities, providing a level of fraud detection and prevention that is finely tuned to your specific business needs and risks.
Enhanced Security Measures Add-On
Security is a top priority for us. We offer optional enhancements like two-factor authentication (2FA) step-up to bolster the security of your transactions. This feature adds an extra layer of protection, ensuring that sensitive data and transactions are accessed only by authorised personnel.
Data Storage and Business Analytics Add-On
Understanding the value of data, we offer optional transaction data storage capabilities. This feature allows you to conduct in-depth business analytics, providing you with invaluable insights that can inform your decision-making processes.
Comprehensive Training Options
To ensure that you get the most out of our platform, we offer training courses on the use and operation of the ISW Secure Payments solution. Our courses are designed to equip your team with the skills and knowledge needed to effectively manage and optimise your fraud and AML risk management processes.
Advanced Name Recognition Add-On
Elevate the efficacy of your fraud, AML, and Politically Exposed Persons (PEPs) detection with our optional advanced name recognition and matching feature. This state-of-the-art capability seamlessly integrates with the core ISW Secure Payments service and employs culture-specific linguistic rules for unparalleled accuracy in name analysis and matching.
Culture-Specific Classification: Identify the most likely cultural or ethnic origin of names.
Gender Identification: Recognise the gender most commonly associated with given names.
Flexible Matching: Handle names with common spelling errors, phonetic discrepancies, or missing components.
Fine-Tuned Searches: Adjust search parameters for application-specific outcomes.
Date Comparison: Utilise associated date values, such as birth dates, for enhanced matching accuracy.
PCI DSS Certified Environment Option
Rest easy knowing that ISW Secure Payments operates in a Payment Card Industry Data Security Standard (PCI DSS) certified environment. This ensures that all transactions are processed and stored with the highest level of security compliance.
Cloud Platform Flexibility
While our default offering utilises Amazon Web Services (AWS), we understand that different organisations have different needs. Therefore, we offer the flexibility to build the service on your choice of cloud platform, ensuring that it integrates seamlessly with your existing infrastructure.
PROTECT YOUR PAYMENTS PROCESSING PLATFORM
WITHOUT A LARGE UPFRONT INVESTMENT
Flexible
Hosted on the cloud provider of your choice - whether that’s IBM, Amazon, Microsoft, or your own cloud.
Compliant
ISW complies with Prudential Standard CPS 234 Information Security and provides the option of PCI DSS certification for the service.
Scalable
ISW Secure Payments features a scalable architecture and offers tiered, consumption-based pricing, adjusting your monthly costs according to that month's transaction volumes.
Support
The ISW Secure Payments service has a dedicated service desk that provides you with access to our portal. Get real-time access to monitor platform performance, activity monitoring, and security.
ADVANTAGES OF ISW’S SECURE PAYMENTS SERVICE
Fast deployment
Onshore data retention
Scalable
Extendable to anti-money laundering
ISW SECURE PAYMENTS FUNCTIONS
Real-time and non-real-time monitoring of financial transactions and non-financial transactions and events
Built in integration and transformation capabilities
Built in SMS and email capabilities
Fully configurable alert/case management
Champion/Challenger and Simulation functionality
Optional multi-tenanting
A common point of purchase/compromise analysis
Queryable database
Dashboarding of system alerts and operational KPIs
Reporting
An array of options and add-ons to enhance your service
TALK TO THE EXPERTS
Bo Mabry
Queensland State Manager
Financial Crimes Lead & Specialist
With 25 years of experience in the IT industry, Bo leveraged this expertise to lead the development a new Fraud Platform. This platform, leveraging both ML and AI, allows financial institutions to continually improve their Fraud and AML detection as new threats emerge.
