LONDON and NEW YORK, Thursday, 17 May, 2018: The aiCorporation (ai), an FCA approved expert in payments, fraud and risk management, and Quatrro Processing, a leading international payment processor, today announced the launch of QPS, a next generation, artificial intelligence powered payments processing solution.
QPS provides financial institutions and merchants (e-commerce and traditional), with an end to end fraud and risk mitigation solution, covered by a 24/7 service window with access to seasoned fraud analysts and best of breed artificial intelligence and machine-learning technology. QPS’s blend of man and machine is set to revolutionise fraud prevention and payments processing, covering a range of channel transactions, including:
QPS provides fraud prevention services enabled by a unique blend of technology solutions and human intelligence, that work as a synergized methodology to secure transactions. QPS complements its user’s current fraud management systems, platform and work flow, by adding a layer of human intelligence, supported by ai’s artificial intelligence and machine-learning technology. Offering next gen, cloud-based transaction monitoring services, fraud exception review, merchant order review and chargeback management.
ai and QPS Gateway builds on the business’s existing partnership which is set to revolutionise the global financial industry’s approach to payments processing and fraud prevention. Bringing together ai’s global, cloud-based, omni-channel (B2C and B2B) payment processing gateway, and QPS’ rules-based monitoring, advanced restrictions, with proven competence on human intelligence and world class customer support, for the first time.
Dr Mark Goldspink, CEO of ai, says: “QPS has been developed specifically to meet the demands of the US’s financial and payments markets. Offering merchants an end-to-end offering that is constructed to target several gaps in the market place. QPS assists them in adopting advanced fraud prevention strategies to enhance order acceptance rates and combating chargeback before service deliveries and order shipments. The collaboration of advanced algorithm and industry expertise will deliver streamlined workflow functionality focused on productivity, agility and lower costs.”
Today’s launch follows September’s (2017) announcement that ai will be partnering with QPS, as part of its continued global expansion and to satisfy the increasing demand for its unique fraud and risk management solutions in the USA. A partnership that links robust real-time fraud detection and prevention expertise, with highly reliable behavioural analytics and dynamic rule management to combat fraud threats, maximize revenue and attain competitive advantage for its users.
ai’s ongoing partnership with QPS strengthens the business’s presence in the USA. Enabling financial institutions of all sizes to adopt ai’s unique machine-learning technology and its rules engine RiskNet®, in conjunction with Quatrro’s best of breed payment processing and analytics capabilities.
Nick Walker, The ai Corporation’s Regional Director for the US, explains: “Our partnership with QPS is a significant step forward for ai. Expanding on our existing business in the America and providing a full-service solution for the merchant and banking community to mitigate risk or fraud across any channel. Between ai and QPS, we will be providing the technology and the human skills for analytic and review purposes. So, it is a true example of man and machine in the fight against fraud.”
Sriram Natarajan, President & Chief Operating Officer QPS says, "QPS has been at the forefront in providing best-in-breed payments and transaction processing services to Banks in the United States for more than 10 years. Through our partnership with ai, we will be able to introduce its innovative artificial intelligence and machine learning models to more merchants and financial institutions.”
ai has existing partnerships in the US with several leading acquirers, issuers and processors.
About The ai Corporation Limited (ai)
ai is trusted around the world for developing innovative technology that allows our customers to take control and grow profitably. Founded in 1998, we have a long track record of providing solutions to some of the world’s largest financial/payment institutions and international merchants. Our long-standing business partnerships are based on making things simple and providing self-service tools that allow our customers to take control. Through our relentless focus on these tools, we constantly strive to help our customers create highly profitable returns.
Take Control: Simply Stop Fraud. Today, our unique self-service fraud detection solutions are considered by many industry “thought leaders” to be the best in the world. Our solutions, including our new “state of the art” machine learning/A. I, protect and enrich payments experiences for more than 100 banks, over three million multi-channel merchants and over 300 million consumer cardholders. We also monitor over 25 billion transactions and authorisations each year. These machine learning technologies are also flexible enough to be applied to other business processes that require detailed consumer insight for marketing or pricing.
Take Control: Simply Manage Omni-Channel Payments: In line with customer demand, and as the payment value chain continues to converge, ai is positioning itself to take advantage of the evolution of payments digitation, by exploiting our fraud and analytical capabilities. To support this ai’s payment gateway, issuing platform and European Money Licence, mean we can act as a payment facilitator for our business partners, allowing them the luxury of rapidly launching new alternative payment types into the market place. A truly end-to-end offering which uses “state of the art” machine learning to manage omni-channel payment transactions securely via a cloud-based platform.
Find out how ai can provide innovative technology that will help you grow profitably by visiting www.aicorporation.com
About QPS
Quatrro Processing Services (QPS) is a leading payment processing and FinTech services provider to Banks, Financial Institutions, Prepaid Issuers, Wallet Companies, Merchants and Payment Gateways worldwide. The company’s core team of seasoned associates consists of payments / cards transaction processing analysts, risk management professionals and technology experts with a track record of providing card processing and transaction processing services. QPS payment solutions are built based on expertise in payment programs, product development, payment processing technology, loyalty and rewards solutions, payment security, consulting and information services. The company is uniquely positioned to offer next generation payments processing services providing unmatched ROI to financial institutions, merchants, payment gateways, processors, prepaid issuers, wallet companies and program managers.
QPS delivers an intelligent fraud prevention strategy that comes from the non-exhaustive list of data variables like email authentication, data validation, address validation, shipping address verification, IP checks, device authentication and many others. QPS’s 247365 days comprehensive fraud detection & prevention solution has armed organizations with reducing false positives and the risk of fraud. Highly reliable behavioural analytics, dynamic rule management and machine intelligence as a combined offering of smart rule and smart intelligence enables merchant and financial institutions to achieve minimal member disruption and enhanced ROI.
For more information please contact;
Nick Jones – PR 07832 115362 The ai Corporation 20 Nugent Road, Surrey Research Park, Guildford, Surrey, GU2 7AF nick.jones@aicorporation.com
Ankit Maharaj Singh Director Client Relations One Parkway Center, 1850 Parkway Place, Suite 1100, Marietta, GA 30067 Work: 262-671-2928 Email:ankit.maharaj@quatrro.com www.qpsinternational.com
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