Software company AdNovum signed an agreement with a fintech developing solutions against fraud. It will integrate the risk-detection platform into its own product line. Both firms are also based in Singapore.
AdNovum agreed to a deal with NetGuardians, according to a statement released on Wednesday. NetGuardians is a Swiss fintech known for its solutions against fraud and present in Singapore for a while.
With the deal, AdNovum increases its product line in the fight against cyber-crime in financial services. The heart of the NetGuardians solution is a risk-detection platform on the basis of machine learning. It helps financial-services companies to detect fraudulent transactions in real time.
Keeping Costs Low
The product enables companies to protect itself 24-7 against all sorts of criminal activities, such as fake Swift, mobile and e-banking transactions, internal and payment fraud.
The platform increases the number of fraudulent transactions detected, which helps keep operating costs lower.
