Risk Management Engine
The IXOPAY payment orchestration platform includes a proprietary Risk Management Engine to help you identify fraudulent payments. Assessing the risk of a transaction and preventing fraud are critical for the business success of financial institutions and operators in high-risk sectors like iGaming, travel and cryptocurrency.
Use IXOPAY to apply customized checks to transaction and estimate the risk involved. Transactions can be analyzed for risk using a range of criteria, such as the transaction value, chosen payment method, user data such as geographic location, user behavior and entries on block and allow lists. The Risk Management Engine also functions as a hub for integrating third-party risk and fraud management solutions such as Forter and Notolytix.
If you are already using external risk management and fraud prevention services, the results returned by these systems can easily be interpreted in our scorecard.
Furthermore, you can transfer data from your own shop systems to IXOPAY and use this information as part of the risk assessment (e.g. VIP status of the customer, usage behavior, block lists and allow lists etc.).
Risk Rules
Use risk rules in the Risk Management Engine to check:
- Whether the customer’s IP address matches the country of origin of the credit card used for payment
- Whether the value of a transaction is unusually low or high based on the transaction history
- Whether the same credit card is in use by multiple users
- Whether multiple transactions with different credit cards have been initiated by the same end device (device fingerprinting)
- Whether the end customer is on the sanctions list
- and much more
Risk Actions
Actions are triggered based on the total risk score assigned to a transaction. Low risk transactions can be approved automatically, you can enable 3D Secure verification (3DS 2), send notifications, or submit transactions for manual review by a risk manager. Users in different roles, e.g. sellers, risk managers, compliance managers etc., can be notified of potentially risky transactions.
3rd Party Risk Checks
You can also integrate third party risk management solutions such as Forter and Notolytix, either to complement the risk assessment using the Risk Management Engine, or to fully outsource your risk assessment.
Transactions initiated using the integrated virtual terminal can also be verified by the Risk Management Engine according to the specific challenges and fraud techniques common to your market sector and regions, insulating your company from potential damages.
