Bottomline Technologies (NASDAQ:EPAY), a leading provider of financial technology that helps make business payments simple, smart and secure, today announced it has expanded its Secure Payments solution to monitor additional payment types.
The solution can now proactively monitor FileAct, SEPA, SIC4, and ISO20022 payments and provide customers with a single interface for detecting and investigating potential fraud in their payments ecosystem.
“We know that user and transaction monitoring across multiple channels, applications, and payment types is critical to provide enhanced fraud detection for banks and corporates,” said James Richardson, Head of Market Development Risk and Fraud, Bottomline Technologies. “Businesses and banks that rely only on ‘in-network’ capabilities to detect fraud are taking a risk.”
Bottomline’s Secure Payments solution protects payments across a variety of applications, channels, and payment types including: ACH, Wire, Faster Payments, Bacs, FileAct, SEPA, SIC4, SWIFT, ISO 20022, Bill Pay and Check.
Bottomline’s flexible platform delivers proven protection against payment fraud through advanced analytics of user behavior and transaction flows layered with intelligent machine learning. Secure Payments detects fraudulent transactions in real-time, holds payments prior to them entering the network, and secures online and mobile sessions and account activity; all while meeting evolving regulatory compliance.
“Part of the complexity with business payments is that they don’t come in a single flavor,” said Richardson. “The sophistication of payment related fraud schemes are evolving rapidly. Organizations need adaptable fraud detection to protect different types of payments and across multiple networks.”
Contributed | what does this mean?