Frequently Asked Questions
aiCorp
Q. What does AI stand for?
A. Artificial intelligence. Neural networks are available, although the system is predominantly rule based.
Q. We are a multi-national bank. Can we obtain a global licence from ai for the solution?
A. Yes. We have a number of group-wide deals with customers and would be happy to support new ones.
RiskNet
Q. What volume of data can RiskNet handle?
A. Whatever you can throw at it! The system is fully scaleable and can be used to process whatever transaction volume you require - from hundreds right up to many hundreds of millions each day.
Q. Does RiskNet Issuer support credit or debit platforms?
A: Unlike many of our competitors' systems, RiskNet supports credit, debit, prepaid, proprietary and, indeed, any other similar payment product in a single system.
RiskNet can provide a customer view of all products and accounts, enabling earlier detection of problems in scenarios such as when a customer looses their wallet.
Q. We currently run separate host systems for credit and debit card management. Can RiskNet Issuer take transaction feeds from multiple sources?
A. Yes. We are able to support feeds from multiple systems simultaneously and then organise the data into a single view.
Q. Does that mean the system is only intended for small organisations?
A. No, not at all. Our systems are fully scaleable and can be implemented to not only meet the needs of the largest banks and processing companies (which run full, multi-banking systems), but also to suit the operational requirements of customers with only small portfolios.
Currently our largest individual systems deal with billions of transactions a year. However, we still have customers running what is essentially the same system who only have a few hundred thousand transactions per year.
Q. Can I link RiskNet to an automated phone system?
A. Yes. RiskNet can be linked to a number of external systems such as Automatic Voice calling systems, SMS and email gateways.
Operation and Performance
Q. How long does it take for a real-time alert to be generated?
A. 30 milliseconds typically.
Q. What percentage of my authorisations can I put through the systems in real time?
A. 100%
Q. What are the best results recorded with RiskNet?
A. One of our RiskNet customers stood up at the Visa CEMEA sub-regional meeting in Cyprus a couple of years ago and told how they had improved their fraud detection to a peak of 97% - from around 50%.
Most of our customers operate at a fraction of the regional and global fraud averages, and have high detection rates in the order of 70% plus.
Q. Are you PCI compliant?
A. RiskNet can be operated within a PCI-compliant environment. A system cannot itself be compliant, rather it is the environment in which it operates.
Q. How often do you bring out new releases, and what is your underlying policy?
A. Each year we aim to bring out one major release, which brings major extensions to functionality and also delivers performance enhancements. This is supported by a number of interim point releases, which add minor functional and performance enhancements and address new customer requirements.
Q. What languages do you support?
A. We currently support English and Chinese, but the system can support any language as required.
Q. What rules do you have?
A. The default set of rules for each system meet Visa and MasterCard monitoring requirements.
Q. Is it possible to create your own rules?
A. Yes it is. In the issuer system you are able to generate your own rules based on your own fraud patterns.
Q. We have fraud agents in several locations. Can the solution be distributed accordingly?
A. Our system has a very flexible architecture, which can allow fraud agents to be distributed over a wide geographical area.
Q. How long before I get a Return On Investment (ROI) with an ai solution?
A. Because our solutions are cost effective and achieve good results quickly, customers typically get a rapid ROI.
Implementation
Q. How long does the solution take to implement?
A. The time varies depending on the solution chosen and the infrastructure in which the implementation will take place.
Most implementations are complete within 2-3 months. Although, with appropriate support from the customer it is possible to complete implementation within a month
Q. What will be the impact on my IT team during implementation of the solution?
A. Minimal. We do require some support from a member of your team conversant with the card systems being interfaced to, and someone will also need to configure the server where the application will reside. Typically, the total impact is less than 3 man weeks.
Q. Can Ai host the solution for us?
A. Yes. We can host it for you or we can refer you to a regional service provider or processor that could also host it.
Q. What platform(s) do you deploy on?
A. Microsoft Windows / SQL Server
Q. What hardware does the solution run on?
A. Our solution runs on simple, low-cost PC servers. Many years' of experience have taught us that these are reliable, inexpensive, easy to maintain and scalable, making them the best and most cost-effective solution.
Support
Q. When can I contact you for product support?
A: Our support service is available 24 / 7, 365 days a year.
Q. How do you support customers?
A: Remotely, using secure VPN access to a customer's site
Q. What ongoing support is required for the system?
A. The system looks after itself and we support any issues with the software as part of the ongoing license. The hardware does require support.
Q. Do you offer consultancy and training?
A. Yes. We can analyse your fraud patterns and make recommendations for changes to your rules. We also offer a range of training that extends from product operations to general business, fraud analytics and also covers departmental organisation and procedural best practice.
