Northville-based DataFactZ is working with IBM to prevent fraud in the financial industry by isolating and investigating phony transactions in real time.
“Detecting fraud in real time has benefits for both the company and its customers,” says Krishna Kallakuri, CEO of DataFactZ, a business analytics company. “We are working with IBM to provide analytics services for z Systems (mainframe computers typically used by larger companies) customers that will improve their ability to detect and prevent costly fraudulent transactions before they occur.”
The partnership was announced Tuesday at the Stata + Hadoop World Conference in California focused on the data industry. The companies will hold two presentations during the conference to showcase the fraud detection capabilities of analytics within the z Systems.
“Data volumes from digital transactions across industries are growing exponentially,” says Mike Desens, vice president and business line executive of IBM z Systems. “While this can be a major benefit to companies in terms of gathering valuable customer data, it can also put them at risk for malicious activity. By supporting fraud detection models for mainframes running z/OS, IBM and DataFactZ can help clients detect fraudulent transactions in real time.”
DataFactZ, founded in 2003, offers supply chain, customer, marketing, risk, and social media analytic services. The company has more than 800 employees and nearly 120 clients.