Alaric, a global supplier of fraud prevention and payments solutions, has opened a Rome based data analytics research centre to further develop the ultra high-performance numerical algorithms for its acclaimed Fractals fraud detection system.
Such algorithms are critical to ensuring truly effective 'in-flight' fraud prevention. The investment is seen as a reflection of a long standing relationship with the data-mining group at the Sapienza Università di Roma.
The new centre will enable Alaric to accelerate its algorithmic research programme, thereby enhancing the levels of support delivered to its growing base of analytics customers in Europe, the Americas and Asia/Pacific. It will also allow Alaric to build significantly upon its relationship with the university going forwards.
"Historically, real time model-based analytics have mostly been used by card issuers for third party fraud detection," says Peter Parke, Operations Director of Alaric Systems. "However, the need for in-flight predictive analytics is exploding to encompass first party fraud, merchant fraud and dynamic credit risk management as well as card fraud prevention. Many banks and processors, whether issuers, acquirers or PSPs, are recognising the benefit they can derive from deploying real time model-based analytics."