chooses Sphonic for risk management

Source: Sphonic

London based today announces that it has selected RegTech services from Sphonic to manage risk and regulation, leveraging its innovative suite of services.

Launched by Gain Capital Payments Limited a London based company, was set up to enable customers and businesses access to international money transfers, providing a better deal and better customer service along the way.

Operating only through online channels, aims to provide a fairer deal for international transfers compared to many of the larger banks and financial institutions. Given the focus on online channels, has decided to use Sphonic to for protection against fraud and financial crime, given its innovative technology for the fast moving digital commerce environment.

Sphonic, which was formed in 2012 through its founder Andy Lee, and its core product Workflow Manager (WFM), was created to be a Context-Broker that leverages data points from over 60 of the world’s leading data vendors and risk management services through an intelligent workflow engine. WFM enables access to vendor services through a single RESTful API, removing the complexity of multiple integrations, as well as leveraging the Sphonic flow-control logic within the platform driving real-time insight to detect fraud efficiently as well as reducing friction for genuine consumer customers.

Discussing the decision to select Sphonic, Emmanuelle Johaadien, COO, of said “We are very excited with the opportunity for to disrupt the international money exchange industry. Operating purely through digital channels provides the ability to grow our customer base significantly, in a short space of time but equally we recognise the threats from operating in this environment. We considered the requirements of a trusted partners to assist us to meet our regulatory requirement and manage risk carefully. Sphonic ticked all the boxes for us, given their team of experts in digital risk management as well as market-leading technology. We are most excited by the agility and flexibility in the technology, which allows us to adapt as our service grows. We look forward to a great partnership with Sphonic”.

Riten Gohil CEO of Sphonic added: “We are very excited to support and be selected a trusted partner for all of their regulatory and digital risk management requirements. Our ability to support an internationally-focussed product, in a real-time digital environment makes Sphonic and WFM a platform of choice by many of the leading brands in the gaming, Fintech and payments space. We see great opportunity for the over the coming years and we are ready to support them on their journey”.

Sphonic’s technology is used by a wide range of clients, benefitting from its innovative services supported by a team of industry experts in the digital risk management space. Organisations like Betfair, (now Pay360), City Index, Zopa,, WePay and a host of others have been benefiting from Sphonic’s technology during our short history. Sphonic continues ongoing Research & Development, complementing its suite of products to address the growing demands in areas such Customer on-Boarding, AML, KYC, Fraud Detection & Monitoring as well as authentication. 

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