Brighterion
Encyclopedia
Brighterion is a Delaware Corporation headquartered
in San Francisco, California
that offers software for realtime fraud prevention.
The company won the 2005 EPCA/ECR award for "the most Innovative and Cost-effective Payments Processing Solution launched during 2005". According to the Brighterion website iPrevent received the 2006 Payment Security Product Excellence
Award
and the Best
Analytical Solution Award
by The Meta Group (acquired by Gartner
).
Brighterion holds several patent
s for dynamic fraud prevention and abnormal behavior detection.
Brighterion has recently released version 4.5 of its iPrevent software
that is used for realtime Acquirer/Issuer fraud prevention.
with offices in Europe
. Brighterion's core technology is based on MindSuite.
Mastercard
's Group Head, Fraud Management Solutions is on the board of directors
of Brighterion.
, prepaid
, credit card
, debit card
, corporate
, checks
, delinquency prediction
, retailers
, healthcare fraud
, insurance
, mobile payments, anti-money laundering, etc), homeland security
intelligence and national/international regulatory compliance
.
technologies such as SMART Agent
s, Data Mining
, Neural Networks
, Business Rules
, Fuzzy logic
, Genetic Algorithm
, Simulation
, Constraint programming
, Case-based Reasoning
to provide an enhanced score
. iPrevent evaluates behaviors specific
to an individual cardholder or merchant
and identifies, in real time, abnormal behavior to prevent previously unknown fraud.
that can combine data from many sources to threat assessment, and allows early detection of potential terrorist threats
. iProtect uses inferential reasoning to classify entities such as people and organizations and portray suspected associations between these entities. iProtect can be used in the fields of homeland security
and defense
.
web service
that helps financial institutions and other regulated companies check their clients ("Know your customer
") against all of the world's
compliance lists
. iComply's Anti-money laundering module is browser-based
software for monitoring
and reporting suspicious activities.
decision-management software (DMS) that can be used in realtime or batch
mode.
Headquarters
Headquarters denotes the location where most, if not all, of the important functions of an organization are coordinated. In the United States, the corporate headquarters represents the entity at the center or the top of a corporation taking full responsibility managing all business activities...
in San Francisco, California
California
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
that offers software for realtime fraud prevention.
The company won the 2005 EPCA/ECR award for "the most Innovative and Cost-effective Payments Processing Solution launched during 2005". According to the Brighterion website iPrevent received the 2006 Payment Security Product Excellence
Excellence
Excellence is a talent or quality which is unusually good and so surpasses ordinary standards. It is also an aimed for standard of performance.-History:...
Award
Award
An award is something given to a person or a group of people to recognize excellence in a certain field; a certificate of excellence. Awards are often signifiedby trophies, titles, certificates, commemorative plaques, medals, badges, pins, or ribbons...
and the Best
Champion
A champion is the victor in a challenge, contest or competition.There can be a territorial pyramid of championships, e.g. local, regional / provincial, state, national, continental and world championships, and even further divisions at one or more of these levels, as in soccer. Their champions...
Analytical Solution Award
Award
An award is something given to a person or a group of people to recognize excellence in a certain field; a certificate of excellence. Awards are often signifiedby trophies, titles, certificates, commemorative plaques, medals, badges, pins, or ribbons...
by The Meta Group (acquired by Gartner
Gartner
Gartner, Inc. is an information technology research and advisory firm headquartered in Stamford, Connecticut, United States. It was known as GartnerGroup until 2001....
).
Brighterion holds several patent
Patent
A patent is a form of intellectual property. It consists of a set of exclusive rights granted by a sovereign state to an inventor or their assignee for a limited period of time in exchange for the public disclosure of an invention....
s for dynamic fraud prevention and abnormal behavior detection.
Brighterion has recently released version 4.5 of its iPrevent software
Computer software
Computer software, or just software, is a collection of computer programs and related data that provide the instructions for telling a computer what to do and how to do it....
that is used for realtime Acquirer/Issuer fraud prevention.
History
Brighterion was founded in April 2000 and is headquartered in San Francisco, CaliforniaSan Francisco, California
San Francisco , officially the City and County of San Francisco, is the financial, cultural, and transportation center of the San Francisco Bay Area, a region of 7.15 million people which includes San Jose and Oakland...
with offices in Europe
Europe
Europe is, by convention, one of the world's seven continents. Comprising the westernmost peninsula of Eurasia, Europe is generally 'divided' from Asia to its east by the watershed divides of the Ural and Caucasus Mountains, the Ural River, the Caspian and Black Seas, and the waterways connecting...
. Brighterion's core technology is based on MindSuite.
Mastercard
MasterCard
Mastercard Incorporated or MasterCard Worldwide is an American multinational financial services corporation with its headquarters in the MasterCard International Global Headquarters, Purchase, Harrison, New York, United States...
's Group Head, Fraud Management Solutions is on the board of directors
Board of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
of Brighterion.
Products
Brighterion supplies software for realtime fraud prevention (acquirer, issuerIssuing bank
An issuing bank is a bank that offers card association branded payment cards directly to consumers.-Detail:The issuing bank assumes primary liability for the consumer's capacity to pay off debts they incur with their card....
, prepaid
Stored-value card
A stored-value card refers to monetary value on a card not in an externally recorded account and differs from prepaid cards where money is on deposit with the issuer similar to a debit card...
, credit card
Credit card
A credit card is a small plastic card issued to users as a system of payment. It allows its holder to buy goods and services based on the holder's promise to pay for these goods and services...
, debit card
Debit card
A debit card is a plastic card that provides the cardholder electronic access to his or her bank account/s at a financial institution...
, corporate
Purchasing card
A purchasing card is a form of company charge card that allows goods and services to be procured without utilising a traditional purchasing process...
, checks
Cheque
A cheque is a document/instrument See the negotiable cow—itself a fictional story—for discussions of cheques written on unusual surfaces. that orders a payment of money from a bank account...
, delinquency prediction
Delinquent
Delinquent or delinquents may refer to:* Law** A person who commits a misdemeanor** A person who commits a felony** A juvenile delinquent, often shortened as delinquent is a young person who fails to do that which is required by law; see juvenile delinquency* A person who fails to pay a debt or...
, retailers
Retailing
Retail consists of the sale of physical goods or merchandise from a fixed location, such as a department store, boutique or kiosk, or by mail, in small or individual lots for direct consumption by the purchaser. Retailing may include subordinated services, such as delivery. Purchasers may be...
, healthcare fraud
2010 Medicaid fraud
The 2010 Medicaid fraud was a case of Medicaid fraud allegedly carried out by an Armenian-American organized crime group operating in the United States.-The crackdown:...
, insurance
Insurance
In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...
, mobile payments, anti-money laundering, etc), homeland security
Homeland security
Homeland security is an umbrella term for security efforts to protect states against terrorist activity. Specifically, is a concerted national effort to prevent terrorist attacks within the U.S., reduce America’s vulnerability to terrorism, and minimize the damage and recover from attacks that do...
intelligence and national/international regulatory compliance
Regulatory compliance
In general, compliance means conforming to a rule, such as a specification, policy, standard or law. Regulatory compliance describes the goal that corporations or public agencies aspire to in their efforts to ensure that personnel are aware of and take steps to comply with relevant laws and...
.
iPrevent
iPrevent does realtime credit card fraud prevention, compromised account detection and delinquency prediction for financial services. iPrevent uses artificial intelligenceArtificial intelligence
Artificial intelligence is the intelligence of machines and the branch of computer science that aims to create it. AI textbooks define the field as "the study and design of intelligent agents" where an intelligent agent is a system that perceives its environment and takes actions that maximize its...
technologies such as SMART Agent
SMART Agent
SMART Agents are a new form of software agent that interface with other agents forming an artificial intelligence system.The acronym "SMART" stands for "System for Managing Agents in Real Time"....
s, Data Mining
Data mining
Data mining , a relatively young and interdisciplinary field of computer science is the process of discovering new patterns from large data sets involving methods at the intersection of artificial intelligence, machine learning, statistics and database systems...
, Neural Networks
Neural Networks
Neural Networks is the official journal of the three oldest societies dedicated to research in neural networks: International Neural Network Society, European Neural Network Society and Japanese Neural Network Society, published by Elsevier...
, Business Rules
BRMS
A BRMS or Business Rule Management System is a software system used to define, deploy, execute, monitor and maintain the variety and complexity of decision logic that is used by operational systems within an organization or enterprise...
, Fuzzy logic
Fuzzy logic
Fuzzy logic is a form of many-valued logic; it deals with reasoning that is approximate rather than fixed and exact. In contrast with traditional logic theory, where binary sets have two-valued logic: true or false, fuzzy logic variables may have a truth value that ranges in degree between 0 and 1...
, Genetic Algorithm
Genetic algorithm
A genetic algorithm is a search heuristic that mimics the process of natural evolution. This heuristic is routinely used to generate useful solutions to optimization and search problems...
, Simulation
Simulation software
Simulation software is based on the process of modeling a real phenomenon with a set of mathematical formulas. It is, essentially, a program that allows the user to observe an operation through simulation without actually performing that operation...
, Constraint programming
Constraint programming
Constraint programming is a programming paradigm wherein relations between variables are stated in the form of constraints. Constraints differ from the common primitives of imperative programming languages in that they do not specify a step or sequence of steps to execute, but rather the properties...
, Case-based Reasoning
Case-based reasoning
Case-based reasoning , broadly construed, is the process of solving new problems based on the solutions of similar past problems. An auto mechanic who fixes an engine by recalling another car that exhibited similar symptoms is using case-based reasoning...
to provide an enhanced score
Excellence
Excellence is a talent or quality which is unusually good and so surpasses ordinary standards. It is also an aimed for standard of performance.-History:...
. iPrevent evaluates behaviors specific
Specific
Specific may refer to:* Specificity* Specific, a cure or therapy for a specific illnessLaw:* Specific deterrence, focussed on an individual* Specific finding, intermediate verdict used by a jury in determining the final verdict...
to an individual cardholder or merchant
Merchant
A merchant is a businessperson who trades in commodities that were produced by others, in order to earn a profit.Merchants can be one of two types:# A wholesale merchant operates in the chain between producer and retail merchant...
and identifies, in real time, abnormal behavior to prevent previously unknown fraud.
iProtect
iProtect is a realtime decision-support engineInference engine
In computer science, and specifically the branches of knowledge engineering and artificial intelligence, an inference engine is a computer program that tries to derive answers from a knowledge base. It is the "brain" that expert systems use to reason about the information in the knowledge base for...
that can combine data from many sources to threat assessment, and allows early detection of potential terrorist threats
Terrorism
Terrorism is the systematic use of terror, especially as a means of coercion. In the international community, however, terrorism has no universally agreed, legally binding, criminal law definition...
. iProtect uses inferential reasoning to classify entities such as people and organizations and portray suspected associations between these entities. iProtect can be used in the fields of homeland security
Homeland security
Homeland security is an umbrella term for security efforts to protect states against terrorist activity. Specifically, is a concerted national effort to prevent terrorist attacks within the U.S., reduce America’s vulnerability to terrorism, and minimize the damage and recover from attacks that do...
and defense
Defense (military)
Defense has several uses in the sphere of military application.Personal defense implies measures taken by individual soldiers in protecting themselves whether by use of protective materials such as armor, or field construction of trenches or a bunker, or by using weapons that prevent the enemy...
.
iComply
iComply is a browser-basedWeb application
A web application is an application that is accessed over a network such as the Internet or an intranet. The term may also mean a computer software application that is coded in a browser-supported language and reliant on a common web browser to render the application executable.Web applications are...
web service
Web service
A Web service is a method of communication between two electronic devices over the web.The W3C defines a "Web service" as "a software system designed to support interoperable machine-to-machine interaction over a network". It has an interface described in a machine-processable format...
that helps financial institutions and other regulated companies check their clients ("Know your customer
Know your customer
Know Your Customer refers to both:* The activities of customer due diligence that financial institutions and other regulated companies must perform to identify their clients and ascertain relevant information pertinent to doing financial business with them* And the bank regulation which governs...
") against all of the world's
World
World is a common name for the whole of human civilization, specifically human experience, history, or the human condition in general, worldwide, i.e. anywhere on Earth....
compliance lists
Regulatory compliance
In general, compliance means conforming to a rule, such as a specification, policy, standard or law. Regulatory compliance describes the goal that corporations or public agencies aspire to in their efforts to ensure that personnel are aware of and take steps to comply with relevant laws and...
. iComply's Anti-money laundering module is browser-based
Web application
A web application is an application that is accessed over a network such as the Internet or an intranet. The term may also mean a computer software application that is coded in a browser-supported language and reliant on a common web browser to render the application executable.Web applications are...
software for monitoring
Monitoring
To monitor or monitoring generally means to be aware of the state of a system. Below are specific examples:* to observe a situation for any changes which may occur over time, using a monitor or measuring device of some sort:...
and reporting suspicious activities.
iSupervise
iSupervise is a browser-basedWeb application
A web application is an application that is accessed over a network such as the Internet or an intranet. The term may also mean a computer software application that is coded in a browser-supported language and reliant on a common web browser to render the application executable.Web applications are...
decision-management software (DMS) that can be used in realtime or batch
Batch processing
Batch processing is execution of a series of programs on a computer without manual intervention.Batch jobs are set up so they can be run to completion without manual intervention, so all input data is preselected through scripts or command-line parameters...
mode.
Awards and recognition
Brighterion has received awards and recognition for its products including:- 2005 EPCA/ECR (European Payments Consulting Association) award for "the most Innovative and Cost-effective Payments Processing Solution launched during 2005".
- 2009 award for Fraud Innovative Solutions from the Publi-News Pay Forum
- Best Analytical SolutionChampionA champion is the victor in a challenge, contest or competition.There can be a territorial pyramid of championships, e.g. local, regional / provincial, state, national, continental and world championships, and even further divisions at one or more of these levels, as in soccer. Their champions...
and Best Data MiningData miningData mining , a relatively young and interdisciplinary field of computer science is the process of discovering new patterns from large data sets involving methods at the intersection of artificial intelligence, machine learning, statistics and database systems...
Technology from the MetaGroup (Acquired by GartnerGartnerGartner, Inc. is an information technology research and advisory firm headquartered in Stamford, Connecticut, United States. It was known as GartnerGroup until 2001....
)
Technology
Brighterion utilizes the follow Artificial Intelligence Technologies in its products:- intelligent agentIntelligent agentIn artificial intelligence, an intelligent agent is an autonomous entity which observes through sensors and acts upon an environment using actuators and directs its activity towards achieving goals . Intelligent agents may also learn or use knowledge to achieve their goals...
and SMART Agents - Neural NetworksNeural NetworksNeural Networks is the official journal of the three oldest societies dedicated to research in neural networks: International Neural Network Society, European Neural Network Society and Japanese Neural Network Society, published by Elsevier...
- Case-based ReasoningCase-based reasoningCase-based reasoning , broadly construed, is the process of solving new problems based on the solutions of similar past problems. An auto mechanic who fixes an engine by recalling another car that exhibited similar symptoms is using case-based reasoning...
- Fuzzy LogicFuzzy logicFuzzy logic is a form of many-valued logic; it deals with reasoning that is approximate rather than fixed and exact. In contrast with traditional logic theory, where binary sets have two-valued logic: true or false, fuzzy logic variables may have a truth value that ranges in degree between 0 and 1...
- Genetic Algorithms
- Business RulesBRMSA BRMS or Business Rule Management System is a software system used to define, deploy, execute, monitor and maintain the variety and complexity of decision logic that is used by operational systems within an organization or enterprise...
- Constraint ProgrammingConstraint programmingConstraint programming is a programming paradigm wherein relations between variables are stated in the form of constraints. Constraints differ from the common primitives of imperative programming languages in that they do not specify a step or sequence of steps to execute, but rather the properties...
- Data MiningData miningData mining , a relatively young and interdisciplinary field of computer science is the process of discovering new patterns from large data sets involving methods at the intersection of artificial intelligence, machine learning, statistics and database systems...
- Text MiningText miningText mining, sometimes alternately referred to as text data mining, roughly equivalent to text analytics, refers to the process of deriving high-quality information from text. High-quality information is typically derived through the devising of patterns and trends through means such as...
- SimulationComputer simulationA computer simulation, a computer model, or a computational model is a computer program, or network of computers, that attempts to simulate an abstract model of a particular system...
- Velocity Analyzer