INFORM GmbH, a global company in advanced optimization software systems, announces that ING Direct in Australia has chosen RiskShield, the leading multi-channel fraud prevention solution to further strengthen the security of real time payment processing for its customers.
The launch of Australia’s New Payment Platform (NPP) slated to occur in the second half of 2017, will transform the process of making and receiving payments and ING Direct as a day one participant in the NPP, is focused on developing the enabling processes to support this new real time payment channel.
RiskShield, a multi-channel solution that combines smart decision logic with a flexible architecture, can support the new NPP requirements and XML message types. This unique blend of agile technology will help the bank to detect unusual financial activities using artificial intelligence and intuitive rule management controls. RiskShield can risk assess every transaction in milliseconds, using live feeds such as payment details, channel characteristics and web anomalies and compare the data with the customer’s historical behavior to verify the legitimacy of payments.
“Globally ING is a leader in banking security and draws on best practice from operations in more than 40 countries. We are looking forward to extending the partnership with INFORM in Australia.” says Adriana Sheedy, Executive Director, Operations at ING Direct Australia. “We believe that RiskShield, a solution used in other key markets that ING operates in, will bring us what we need to ensure safe and secure payments for our customers. Fraud is a diverse and rapidly evolving challenge and we need to be able to act in real-time and stop fraud before it occurs.”
Dr. Andreas Meyer, EVP of INFORM adds, “We are very proud that ING Direct has trusted us as a new player in the Australian market. After announcing our new partnership with Polonious in the last few months, we are pleased to announce our second and third milestone, the first insurance implementation and the first NPP-Ready RiskShield implementation in banking. RiskShield is a strong market leader in Europe with numerous implementations in both banking and payment & card services. Together with our local partner Polonious, we are confident we will achieve similar successful implementations of RiskShield in both Australia and New Zealand.”