Jack Henry announced the launch of Payrailz Fraud Monitor, an AI-powered, cloud-based feature of the Payrailz digital payments platform that provides real-time fraud detection as transactions occur. payment translation is started. This exclusive, highly customizable feature supports person-to-person (P2P) payments, consumer and business bill payments, and account-to-account outbound transfers (A2A ) is powered by the Payrailz digital payment platform.

Payrailz Fraud Monitor leverages AI and machine learning to simultaneously detect and weigh multiple fraud attributes and metrics, including known and unknown fraud cases and patterns, to generate composite scores, which can be action as you make each scheduled payment transaction. Financial institutions can configure score ranges and other thresholds based on their own risk tolerance, and the AI-powered fraud engine continuously learns to detect evolving fraud patterns and emerging. Based on behavioral analysis, Fraud Monitor can significantly reduce payment fraud, including account takeovers (ATOs) where fraudsters possess real user credentials and try to quickly withdraw money from their account.

“It’s an unfortunate reality that every payment channel is being impacted by fraud and fraud attempts,”

“And we know that mitigating payments fraud takes a multi-layered approach that targets fraud attempts at the different stages of a payment transaction. We’re excited to offer Fraud Monitor to our clients and empower them with a sophisticated, AI-driven feature that scores 100% of P2P, A2A, and bill payments in real-time. The ability to leverage transaction attributes, user profiles, and atypical behavior patterns uniquely balances the ability to immediately detect and prevent fraudulent transactions with a frictionless payments experience.”

Tede Forman, president of Payment Solutions at Jack Henry.

“Fraud Monitor delivers a wide range of benefits for our credit union,”

“In addition to the critical benefit of helping us stop fraud in real-time, Fraud Monitor helps with workflow efficiencies by drastically reducing the number of suspicious transactions that need our manual review and automatically stopping fraudulent transactions. Fraud Monitor provided us the flexibility we need to respond to dynamic fraud schemes and patterns as well as the ability to tailor score thresholds and other configurations that support our risk preferences.”

Adam Jones, vice president of digital experience at Georgia’s Own Credit Union.

Payrailz Fraud Monitoring supports Jack Henry’s strategic commitment to providing innovative solutions that help banks and credit unions reduce fraud and fraud schemes inherent in individual payment channels. multiply today. As part of its technology modernization strategy, Jack Henry will also launch Jack Henry Financial Crimes Defender™, an industry-leading, cloud-based, multi-channel fraud detection platform that will launch widely in the summer of 2023.