Indue Announces Strategic Partnership with IBM

Indue is delighted to announce a strategic partnership with IBM, and its intention to offer IBM Safer Payments for the protection of real-time payments on Australia’s New Payments Platform (NPP). IBM Safer Payments is the industry’s first true cognitive fraud detection solution, and will complement Indue’s Orion Financial Crimes NPP Service. This represents a significant step in Indue’s strategy of providing a multi-channel, fully outsourced, 24×7 fraud and financial crimes monitoring service.

The potential for increased fraud losses on NPP has been well publicised. Indue aims to be a leading provider of outsourced services designed to stop fraudulent payments on the NPP channel, providing a high level of confidence to clients as they embark on their NPP journey, and helping to ensure the success of Australia’s real-time payments environment. Indue’s Orion Financial Crimes will offer a 24×7 NPP fraud and sanctions monitoring service, along with case management, with options for a fully or partially outsourced model.

IBM Safer Payments is an end-to-end solution for helping to identify and prevent fraud in real-time, across all payment channels. Protecting some of the largest payments portfolios in the world, IBM Safer Payments offers superior fraud detection accuracy as well as a reduction in false positives. The result is greater security and an enhanced experience for banking customers.

Providing a “next generation” approach, IBM Safer Payments utilises Artificial Intelligence reflecting decades of human experience and deep know how in fighting fraud. Powerful models and extensive behaviour profiling capabilities will allow Indue and its customers to stay ahead of challenging, fast-changing modern fraud patterns.

IBM Safer Payments is PCI PA-DSS certified, the most stringent data security standard in the payments industry.

The benefits Indue will bring to market in the NPP space, powered by IBM Safer Payments, include:

A frictionless, secure customer experience – Indue delivers a true real-time payments experience for customers, backed by the industry’s leading capabilities. This ensures the security and integrity of payments with no sacrifices made to customer experience.

Greater confidence and competitiveness – Indue’s customers will gain greater confidence with existing payment channels, as well as the ability to confidently launch new payment channels, improving their competitiveness.

Bespoke fraud prevention solutions – designed for large payment processors, IBM Safer Payments provides robust multi-tenanting capabilities where each customer has autonomy, security, and high levels of customisability. Coupled with Indue’s full range of services, Indue can tailor solutions to the needs of any and all players in the payments ecosystem.

To find out more about Indue’s Orion Financial Crimes service and the truly outstanding cognitive fraud detection benefits Indue could offer to your organisation, please contact Luke Wilson, Group Executive – Sales & Relationships on 02 9201 8310.

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