LONDON and NEW YORK, Thursday, 17 May, 2018: The ai Corporation (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:
– Cards (credit, debit and prepaid)
– Check, ACH and wire
– Alternate Payment Methods (APM), Mobile and Online Payments
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.