FIS tackles P2P payments fraud with IBM solution

It would  help US financial institutions prevent fraud on real-time P2P payment services

P2P payments

The leading provider of technology solutions tackles P2P payments fraud. Source: shutterstock.com

FIS announced that it has integrated the IBM Safer Payments solution within its person-to-person payment services in the US.

The usage of real-time P2P services grows very fast. That’s why the banks and other financial institutions need upgraded ways of identification and fraud prevention while making transactions.

The AI and machine learning monitor high-volumes of P2P transactions, providing real-time protection and decisioning.

FIS is taking aggressive steps to protect its clients against new and evolving threats in the industry. IBM Safer Payments uses artificial intelligence designed to deliver insights and to quickly adapt to a changing threat landscape. This technology is yielding successful results for FIS and some of the world’s largest and most complex payment portfolios
Michael Curry, Vice President, IBM RegTech

FIS and IBM Safer Payments fraud detection solutions have seen a reduction in fraudulent transaction attempts.

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