NetGuardians launches Community Scoring and Intelligence Service
This article appeared on IBS Intelligence on 8th December 2022
Swiss RegTech NetGuardians has launched the Community Scoring & Intelligence Service, which consolidates and contextualizes collective insights and intelligence. The new service, whose partners include Swiss cyber security specialist SWITCH-CERT, collects insights from banks, FinTechs, and other sources to provide an enhanced scoring capability.
Community members can transform and enhance their fight against fraud by improving prevention and reacting to global threats in real-time by harnessing the power of shared intelligence.
NetGuardians’ AI software builds up accurate individual behavioral profiles against which it compares every transaction to identify suspicious activity. To develop these profiles, the company uses data from customers’ own transactions.
Michael Fuchs, SWITCH-CERT’s Senior Information & Cyber Security Consultant, said, “The NetGuardians’ Community Scoring & Intelligence Service will help organizations better protect themselves from cybercrime and fraud. We are pleased to be involved in this global movement to stop fraudsters and help financial institutions protect their customers.”
Raffael Maio, NetGuardians’ Co-Founder and Chief Strategy Officer, added, “The banking community knows from experience that when fraudsters find a successful methodology, they will use it time and again. By using shared insights as widely as possible about what is happening globally, we can all make each other and our customers safer.”
NetGuardians is the fraud-prevention partner of major banking software companies including Finastra, Avaloq, Mambu, and Finacle. More than 80 banks and wealth managers, rely on NetGuardians’ 3D artificial intelligence (3D AI) solution to prevent fraudulent payments in real-time.
Notably, this is the second new feature released by the company in the past two months. It recently launched its anti-money laundering (AML) transaction monitoring solution. Its NG|Screener platform includes an AML transaction monitoring solution that can better detect incidents.
Read this article on IBS intelligence website.