News release

Date: 5th April 2016

Diners Club cuts fraud with ai Corporation

Diners Club South Africa has recently implemented new fraud detection and prevention software from ai Corporation

London & Johannesburg, 5th April 2016 – Diners Club South Africa has recently completed the implementation of new fraud detection and prevention software from ai Corporation. The RiskNet software is now giving Diners Club near-real time alerts of possible frauds, while its self-learning neural model continually improves fraud scoring and pattern detection based on user-definable rules. The implementation is also part of Diners Club’s long-term strategy to continuously improve its infrastructure to protect and serve its customers.

Diners Club was previously using a fraud detection system that had been developed in-house. However, Diners Club’s fraud detection team found it inflexible and at possible risk of being unable to cope with growing volumes of card payments.

Grace van Deventer, senior manager for Value Chain Management & Optimisation, Diners Club SA, said, “We chose to run RiskNet in parallel with our in-house system for around six months. This is allowing us to build up our rules base and pattern-detection algorithms in RiskNet and to confirm that it exceeds the functionality and usability of our original system, but without any risk to our fraud detection capabilities or excellent customer service levels.

“Fraud isn’t local; it’s a global problem. That’s why we have integrated RiskNet with our global fraud detection system running on Diners Club International’s servers. This gives us real-time alerts for all possible frauds, either originating from South Africa or from other international Diners Club card acquirers.”

Using RiskNet, Diners Club now tracks potential frauds as combined ‘cases’, with the alerts prioritised to show which fraud rules have been broken. This is allowing the company’s fraud detection team to make better assessments and cope with higher payment volumes, as part of its focus on protecting its customers from fraud.

Grace van Deventer, Diners Club SA, said, “While current system and processes have been good at detecting card fraud, it is key to optimise and continuously improve our capabilities even further.

Diners Club’s fraud detection team is enthusiastic about using RiskNet over the old system and our senior management are confident in RiskNet’s ability to provide the right level of information for them.”
The implementation of RiskNet included ai Corporation customising it to take into account both Diners Club’s own internal requirements as well as local card payment regulations and patterns of fraud.

Notes to Editors:

About RiskNet:
ai Corporation’s RiskNet fraud detection system is based on a rules engine acknowledged by many of the industry thought-leaders as the best. It operates through user-defined rules and parameter-mapping, supplemented by artificial intelligence and automated machine-learning techniques.

A Rule Builder allows users to define their own fraud detection rules with ease using a unique point-and-click approach. Even the most complex rules are quick to define. Static, derived or transactional fields can be rapidly selected to create simple or complex multi-clause rules. Rules can be applied in real-time, enabling the user to react rapidly to new fraud trends and intervene in fraud cases, as they develop. All rules, once created, can be used at multiple levels using the novel Parameter Change system – this feature allows one rule to be reused many times without having to redefine it, saving time and making your rule base straightforward to maintain.

The RiskNet rules engine has been developed by fraud experts. It is intuitive and fully scalable with a valuable range of easily adaptable functionality that can be integrated into existing business processes and has been developed for issuers and acquirers. Whilst both contain the same core fraud prevention technology, modules of RiskNet are offered to target different requirements:

RiskNet Acquirer Module is dedicated to merchant risk management and fraud detection for POS and ATM Acquirers;
RiskNet Issuer Module is dedicated to the prevention of fraud loss for credit and debit card issuers.

About ai Corporation:
Pioneering intelligence from payments data
Founded in 1998, ai has a long and exciting heritage as one of the world’s leading companies in fraud and risk management.

Our unique solutions, including our new ‘state of the art’ neural technology, protect and enrich payments experiences for more than 100 banks, over three million multi-channel merchants and over 300 million consumer cardholders. We also monitor in excess of 20 billion transactions and authorisations each year.
For over 20 years, ai has provided solutions to some of the world’s largest financial institutions, international merchants and other major payment service providers.

Today, our unique self-service fraud detection solutions are considered by many industry ‘thought leaders’ to be the best in the world.

Trusted around the globe
ai has longstanding client partnerships all over the world, who enjoy outstanding products and services which are based on making things simple for them; they are truly self-service and easy to use. This means our customers can make decisions and implement them immediately, unlike many of our competitor’s products.

Innovation beyond fraud – reusable technology assets
ai’s ‘best of breed’ solutions are designed to help our clients grow profitably. As well as optimise risk management, they are flexible enough to be applied to other business processes that require detailed consumer insight for marketing or pricing.

These innovative, easy-to-use self-service/self-learning solutions have been deigned to help provide our customers with greater operational controls. By doing this, we constantly strive to help our business partners create superior returns on their investments in our solutions.

At ai, we provide innovative technology to help you grow profitably.
For further information contact:
Nick Walker
M +44(0) 7901 920 573
T +44(0) 1483 661 243

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