Real-Time, AI-Based Fraud Mitigation Feature Supports Multiple Payment Types
Payrailz Fraud Monitor leverages AI and machine learning to simultaneously detect and weigh multiple fraud attributes and indicators, including known and previously unknown fraud instances and patterns, to generate an aggregated, actionable score as each payment transaction is scheduled. Financial institutions can configure score ranges and other thresholds based on their unique risk tolerance, and the AI-enabled fraud engine continuously learns to detect evolving and emerging fraud patterns. Based on behavioral analytics, Fraud Monitor can substantially mitigate payment fraud, including account takeover (ATO) when a fraudster takes possession of an authentic user's credentials and attempts to quickly move funds out of their accounts.
"It's an unfortunate reality that every payment channel is being impacted by fraud and fraud attempts," said
"Fraud Monitor delivers a wide range of benefits for our credit union," said
The Payrailz Fraud Monitor feature supports
Jack Henry ™ (Nasdaq: JKHY) is a well-rounded financial technology company that strengthens connections between financial institutions and the people and businesses they serve. We are a S&P 500 company that prioritizes openness, collaboration, and user centricity – offering banks and credit unions a vibrant ecosystem of internally developed modern capabilities as well as the ability to integrate with leading fintechs. For more than 46 years, Jack Henry has provided technology solutions to enable clients to innovate faster, strategically differentiate, and successfully compete while serving the evolving needs of their accountholders. We empower approximately 8,000 clients with people-inspired innovation, personal service, and insight-driven solutions that help reduce the barriers to financial health. Additional information is available at www.jackhenry.com.
Statements made in this news release that are not historical facts are "forward-looking statements." Because forward-looking statements relate to the future, they are subject to inherent risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include, but are not limited to, those discussed in the Company's
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Company: Jack Henry & Associates, Inc., 663 Highway 60, P.O. Box 807, Monett, MO 65708; Analyst Contact: Vance Sherard, CFA, Vice President, Investor Relations, (417) 235-6652, Press Contact: Mark Folk, Sr. Manager, Corporate Comm, (704) 890-5323