Latest scientific data mining methodology
The core data mining algorithm used by MINTify is the systematic application of statistical-mathematical methods identifying new data patterns and is developed by Fraunhofer IAIS. We guarantee that if there is any pattern in your data MINTify will find it.
Automatic Rule Creation
MINTify has a user-friendly and intuitive GUI, no expert knowledge is required to operate the system. All you need is a relational database, MINTify and a user pressing the “START” button. The automatically created rules are displayed in an easy understandable and intuitive way.
- Rule Quality
Every rule and rule set is provided with quality criteria: False/positive ratio and detection rate. One of the main features of MINTify is allowing the user deciding about the rule quality by just entering the minimum accepted detection rate and false/positive ratio
- Rule Complexity
A rule creation profile determines the rule complexity. Depending on a customer’s requirements and processing systems, the rule language and complexity can be tailored accordingly. Rules can be generated fitting to the customer’s real-time fraud prevention /monitoring system or even more complex rules can be generated for near-real-time processing.
- Rule Set Optimization
In addition to generating a complete new rule set, a user can also choose to optimize a productive rule set. During optimization the quality of an existing rule set is validated and may be enhanced by additional better performing rules. Still good performing rules remain in the rule set whilst bad performing rules are removed and new rules are added to the set.
- Add Expert Rules Manually
Extend your protection by allowing your experienced fraud specialists to add rules manually. Via the MINTify GUI manual rules can be easily created and added to an existing automatically generated rule set.
The simulation of rule sets is based on customized timeframes and the results include the rule qualities (False/Positive Ratio and Detection Rate).
Reports & Statistics
Comprehensive reports and statistics in terms of detection rate and false/positive ratio on rule/rule set basis are provided as well as rule creation reports with all relevant rule and rule creation information. Furthermore reports about accomplished simulations are available.
In addition to rule reports, MINTify offers a set of standard reports such as Gross Basis Points, average transactions per fraud case and average loss per issued cards. Also high risk MCC and high risk country reports can be generated. These reports can also be transferred to the user’s home screen and be dynamically updated every time a user is logging in. The reports cannot only be generated for the entire portfolio, but also for various filter criteria such as POS Entry Mode, MCC, etc.
You are interested in statistics about Gross Basis Points of one of your portfolios for example ATM transactions in a certain country? No problem with MINTify.
Designed as a multi-channel solution, MINTify supports an unlimited number of acquisition channels, payment types, transaction types and risk categories. It can be easily configured to add new channels and allows also processing of non-financial transactions. MINTify allows managing all fraud related data distinguishing between different customer portfolios and lines of business using a single platform.