HiPay Sentinel fights against fraud using Artificial Intelligence

HiPay (ISIN FR0012821916 – HIPAY), a fintech company specialized in payments, launches HiPay Sentinel, a new technology allowing merchants to efficiently fight against fraud. Online sales increased more than 14% in the first trimester of 2017. This king of growth is usually followed by a higher fraud risk that merchants have to deal with.

Say Hi to HiPay Sentinel

In 2014, HiPay developed its first technology tool dedicated to fraud management, Fraud Protection Service (FPS). To be efficient, the solution to fight against fraud has to meet the specific needs of each business. That’s why the HiPay FPS module analyzes 80 different types of payment criteria as well as data related to each merchant.

Today, HiPay Sentinel goes further: “We have decided to complete our anti-fraud solution by enabling our merchants to improve their customer user experience. Pursuing this goal, we have deployed the HiPay Sentinel. In addition to the already existing features of our FPS, we have added two major innovations: the combination of several criteria in a same rule and a more efficient analysis of “challenged” transactions, meaning transactions which must be manually reviewed by merchants, thanks to Artificial Intelligence.” explains Virginie Koçun, Head of Fraud at HiPay.

Until now, scoring rules could only take into consideration a single criterion. Merchants are now able to create rules that combine up to four different criteria. This new function allows us to refine the risk analysis of a transaction.

Smart Decision: Using Artificial Intelligence to Fight against Fraud

The existing FPS module performs the initial filtering; however, some transactions need a more detailed analysis. This detailed analysis includes manual reviews that require additional resources which the merchant may not necessarily have. Manual reviews are sometimes a long process that results in payments being put on hold for processing resulting in a negative user experience.

From now on, part of HiPay Sentinel, Smart Decision, automatic and self-learning analyzing tool, limits resources allocated to this review and allows merchants to be way more reactive in the management of high risk transactions.

“With Smart Decision, we offer our expertise in risk management to our clients and entrust the detailed review step of the transactions to the algorithms having both self-learning and self-adaptation capabilities. Machine Learning lets us evaluate statistically and dynamically the level of risk for “challenged” transactions in order to take the best decision in real time. Decision which, beyond the statistical dimension, also takes into consideration the business aspect of each merchant.” completes Alexandre Czech, Data Science Project Manager at HiPay.

To develop this product, HiPay worked with industry leading merchants, taking into account their requirements in terms of online fraud prevention.

“We are happy to offer HiPay Sentinel to our merchants, first anti-fraud tool integrating Machine Learning technology. The fight against fraud is a recurring and important subject for a large number of merchants. This innovation has a bright future in the e-commerce market. HiPay Sentinel is a new step in HiPay’s technological development to always better help its clients and increase consumers’ user experience.” concludes Grégoire Bourdin, CEO of HiPay.

We’re a global payment provider processing more than 2bn € annually across 150 countries and 220 payment types. By harnessing data analytics we help deliver valuable customer insights that enable our merchants businesses to succeed. More information on hipay.com

HiPay Group is listed on the Euronext Paris Compartment C (ISIN code: FR0012821916 – mnemo HIPAY).