IBM Safer Payments Reviews

My usual use cases for IBM Safer Payments involved real-time fraud monitoring of near real-time, not real-time, near real-time fraud monitoring on debit and credit cards, as well as mobile and internet usage.

The features of IBM Safer Payments that I found most valuable are the "what if" scenarios. I find "what if" scenarios very valuable for my use cases because it's easier to simulate the rules that one would want to set up and see what the outcome would be beforehand; it doesn't take too much rework or effort.

I have used the transaction scoring feature of IBM Safer Payments. IBM Safer Payments adaptive machine learning models are still under review for improving the accuracy of fraud detection over time; it's not yet been fully realized because the more data you have, the better it is. Currently, the data is being populated, and it's too early to make definitive conclusions.

The ability to process large volumes of transactions in real-time for my organization is very important; that will become even more important once we are doing real-time monitoring and scoring.

I have benefited from the comprehensive reporting and visualization tools offered by IBM Safer Payments; they are lovely. These tools have assisted in optimizing my fraud prevention strategies because we are still building on a few things, but once you have a 360 view of the customer's transactional history, it's easier to build in rules for flagging anything that comes out of the ordinary, whether it's in terms of the number of transactions, the volume of the transactions, the location of the transactions, or all of them together. It brings in a lot of visibility into the transactional history and patterns for each customer.

Our customers use this solution to check financial transactions for their payments. Our customers, mainly banks, use this solution to verify the accuracy of their clients' financial transactions. The solution helps determine whether a transaction is correct or fraudulent. If a transaction is deemed fraudulent, the system stops it, allowing the customer to decide the next steps. This solution acts to increase the security of financial payments and reduce fraud.

It's a very fast solution. It can make decisions in 10, 20 or 30 milliseconds. Another feature is that it's a white-box solution. Our clients can see the system's operation, including the rules influencing each decision. Additionally, it's an omnichannel solution capable of utilizing information from various digital channels such as card processing, mobile banking, web banking, APMs, and others.

This allows for transaction analysis. Moreover, it's a highly adaptable solution that can integrate machine learning, both external and internal models, making it easy to implement. Compared to competitors, it's one of the easiest solutions to implement.

The tool allows historical data to be leveraged within the system to train models without needing external systems. Secondly, it supports external modeling systems, enabling customers to create and train models outside the product and then integrate them into the system. This is useful for customers who utilize other machine learning and artificial intelligence systems alongside IBM Safer Payments.