SIA, a company specializing in the management of electronic payments, and INFORM, a leading company in risk management and fraud prevention solutions, have signed an agreement to offer an innovative fraud prevention and risk management service to SIA’s acquiring banks and financial clients across Europe.
SIA has integrated INFORM’s RiskShield solution inside its own acquiring infrastructure, aiming to improve the security of payment and card transactions through real-time prevention and to protect both the client’s business and reputation.
The agreement, initially focused on safeguarding SIA’s card acquiring business, will be extended to instant payments, e-commerce transactions and, in the near future, bank accounts and Telco services.
RiskShield is a multi-channel fraud detection and prevention solution that integrates software technologies such as fuzzy logic, dynamic profiling and machine learning capabilities in a single, scalable and flexible platform to monitor more than 5,000 payment and card transactions per second.
“SIA manages more than 9 billion clearing transactions and 3.6 billion card payments and we found in RiskShield the innovative anti-fraud solution that could match our strategic ambition and deliver a robust and reliable service,” says Gabriele Boni, Financial Institutions Director at SIA. “Seamlessly integrated in our payment infrastructure, RiskShield monitors every transaction that occurs in order to detect any unusual behavior within a few milliseconds.”
“We are pleased to join forces with SIA in the fight against fraud,” says Andreas Meyer, Director Risk & Fraud Division at INFORM. “We are confident that our award-winning anti-fraud solution will be instrumental to SIA’s strategic plans and we look forward to partnering with them for the long-term.”