Australia launched its New Payments Platform (NPP) real-time payment platform in early 2018, Indue saw an opportunity to reinvent its financial crimes service. Real-time payments mean greater risk of fraud and cyber crime, as fraudsters can move money extremely fast. Indue needed to create a real-time, full-service offering to help its customers meet the challenge presented by the NPP.
With the launch of NPP, money can move in less than 15 seconds. Indue's traditional rule-based fraud monitoring system wasn’t fast enough for NPP. Indue realized that a real-time solution would require machine learning, or AI, to deliver a robust response and bring fraud risk down without interrupting payments or compromising the overall customer experience. They identified IBM Safer Payments as the ideal solution to bring AI and real-time detection capability to fraud detection.