ING Direct Australia, a subsidiary of Dutch banking group ING, has selected INFORM’s RiskShield solution to enhance the security of its real time payment processing.
The technology provider said that its RiskShield multi-channel solution integrates decision logic with a flexible architecture to support XML message types and the New Payment Platform (NPP) requirements.
ING Direct is a participant in the NPP, and is focused on developing the enabling processes to support the new payment channel.
INFORM EVP Andreas Meyer said: “RiskShield is a strong market leader in Europe with numerous implementations in both banking and payment & card services. Together with our local partner Polonious, we are confident we will achieve similar successful implementations of RiskShield in both Australia and New Zealand."
The technology firm said that its RiskShield solution will enable the bank to risk assess each transaction in milliseconds using live feeds including payment details, and channel characteristics and compare the data with the customer's historical behaviour to verify the legitimacy of payments.
ING Direct Australia executive director of operations Adriana Sheedy said: "We believe that RiskShield, a solution used in other key markets that ING operates in, will bring us what we need to ensure safe and secure payments for our customers. Fraud is a diverse and rapidly evolving challenge and we need to be able to act in real-time and stop fraud before it occurs."