References
User references for IBM Safer Payments span retail banks, digital banks, FinTechs and payment processors in Europe, Oceania, Asia, North and South America.
Most of these users agree to be referenced and the testimonials of their main executives report the success obtained by implementing the third (latest) generation IBM Safer Payments platform in terms of increased productivity of their anti-fraud analysts, drastic reduction of losses due to fraud with a parallel, very significant decrease in false positive rates, and, in general, the acquisition of powerful prevention and immediate reaction capabilities to face increasingly urgent and sophisticated challenges and threats.
What users say
”With IBM Safer Payments, we are reducing card fraud in France by more than USD 115M per year, with an average latency of 3.5 milliseconds and a false positive rate of 1:1.”
- Rodolphe Meyer, CIO (Chief Information Officer) STET, French National Payments Switch.
“Up against this (P2P) challenge along with the pressing needs for real-time decisioning and increased flexibility for our team, we found that IBM Safer Payments has exceeded our expectations.”
- Norman Marraccini, General Manager Retail Banking, Digital Payments, ACH and FIS Real-Time Payments, North American Payment Processor.
"The three main benefits we see using IBM safer Payments: a 20% lower false-positive rate, the ability to make rule changes up to 90% faster than on traditional platforms, and the ability to manage all payment channels in one system.”
- Dave Hemingway, Corporate Product & Marketing Executive at Indue: Australian Payment Processor.
“As our markets become more competitive, having a platform like IBM Safer Payments is crucial to react quickly to meet the new challenges.”
- Steen Henriksen, CRO (Chief Risk Officer) Borgun: Iceland's first card issuer and acquirer.
“We are relentlessly vigilant in protecting our customers' trust, and we put security front and center, so they can be sure their money and personal information is well protected. With IBM Safer Payments we are stepping up that protection, analyzing every transaction in real time, but without sacrificing the customer experience. Everything we do to protect our customers from fraud and cybercrime also helps us maintain New Zealand's excellent business and e-commerce reputation globally.”
- Owen Loeffellechner, CS&SO (Chief Safety & Security Officer) Bank of New Zealand: Oceania's leading bank.
“Our strategic partnership with IBM demonstrates our deep commitment to using technology to drive innovation and support the needs of our clients. With the help of IBM Safer Payments, which can be deployed in any public cloud environment, including our preferred provider Amazon Web Services (AWS), we are able to scale rapidly in an effort to deliver value to our clients, enabling them to make payments around the world, safely, efficiently and without friction.”
- Thiago Garrides Cabral Lima, CRO (Chief Risk Officer) Banco Inter, digital bank (FinTech) of Brazil.
“Frauds are a big global problem as they have typically been growing more than the volume of transactions. At SIBS we went from a system of alerts based on business rules derived from the analysts' knowledge to a rules engine optimized by the advanced tools of IBM Safer Payments with ML detection and alert models, with excellent results. We got 70% loss reduction with AI/ML compared to the previous rule-based solution and false positive rates within the limits allowed by our banks (1:3). We attribute this performance to IBM Safer Payments' powerful profiling capabilities (400 features), its flexible and efficient rules engine, and its fast machine learning (ML) components.”
- Ricardo Chaves, Director of Fraud Management Operations & CCO (Chief Commercial Officer), SIBS, Pan-European Payment Switch.
“Protecting our customers' trust in us is key to our success, and we put security front and center, so they can be sure their money and personal information is well protected. With IBM Safer Payments we are intensifying this protection, analyzing each transaction in real time, but without sacrificing the customer experience.”
- Dr. Abdulbasit Al Shaibei, CEO (Chief Executive Officer) QIIB, Qatar International Islamic Bank.
“Mobile and online payment practices have made fraud detection much more challenging. Payment service providers' response times are decreasing due to real-time payments, which reduces the window to detect fraudulent activity. Banks that can prevent losses while avoiding the misclassification of genuine payments as fraud can gain and enjoy a competitive advantage.”
- Steve Weston, CEO (Chief Executive Officer) and co-founder Volt Bank, Australian neo-bank (fintech).
Testimonials y documents
STET – French National Payment Switch
STET uses IBM Safer Payments to analyze payments for its clients in real time. Each transaction is analyzed and scored in 3.5 milliseconds on average, with avoided fraud savings of USD 115M per year and a 1:1 false positive rate.
FIS – United States Payment Processor
FIS integrates IBM Safer Payments into its person-to-person payment products offered to its clients in the United States, with a 72% reduction in fraud losses and a 90% decrease in false positives.
Bank of New Zealand
BNZ, one of the country's leading banks, improved fraud detection by 12%, from 75% with the previous solution to 87% with IBM Safer Payments, after just two months of use, and expect to achieve higher detection rates to 90% immediately.
SIBS – Pan-European Payment Processor
SIBS, one of the leading pan-European payment switches uses IBM Safer Payments to analyze payments for its clients, achieving a 79% reduction in their fraud losses with a 1:3 false positive rate.
Indue – Australian Payment Processor
Indue uses IBM Safer Payments to analyze instant payment transactions in real time on the New Payments Platform (NPP), gaining 20% improvement in reducing the false positive rate and the ability to make rule changes in a timely manner 90% faster.
Volt – Fintech, digital bank of Australia
Volt, an Australian digital bank (fintech) integrates IBM Safer Payments into its online banking platform to provide customers with a more seamless and secure banking experience across the company's platform.
QIIB – Qatar International Islamic Bank
International Islamic Bank of Qatar, one of the country's leading banks, uses IBM Safer Payments to deliver cross-channel fraud prevention to its customers, ensuring an innovative and positive experience.
Banco Inter – Digital Bank of Brazil
Banco Inter, the first fully digital bank in Brazil, selected IBM Safer Payments to enable its clients to make secure, efficient, and frictionless payments across the globe.
Bordun – Icelandic card issuer
Bordun, Iceland's first card issuer and acquirer, uses IBM Safer Payments to achieve a 360º view of its fraud risk operations and enable its growth and expansion to other European countries.