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Real-Time Payments Fraud Detection Feature Introduced by Jack Henry
Jack Henry (Nasdaq: JKHY) announced the launch of Payrailz Fraud Monitor, a cloud-native, AI-based feature of the Payrailz Digital Payments Platform that “provides real-time fraud detection when payment transactions are initiated.”
This customizable, proprietary feature “supports person-to-person (P2P) payments, consumer and business bill payments, and account-to-account (A2A) outbound external transfers powered by the Payrailz Digital Payments Platform.”
Payrailz Fraud Monitor leverages AI and machine learning “to simultaneously detect and weigh multiple fraud attributes and indicators, including known and previously unknown fraud instances and patterns, to generate an aggregated, actionable score as each payment transaction is scheduled.”