Switzerland’s Leading Payment App TWINT Chooses NetGuardians’ AI Software to Bolster Fraud Mitigation with Real-time Transaction Monitoring
- Artificial Intelligence
- 11.01.2023 09:55 am
Award-winning Swiss FinTech NetGuardians, renowned for its enterprise risk platform for combatting financial fraud, has announced that Switzerland’s leading payment app TWINT has selected its software as part of an enhanced fraud prevention program.
NetGuardians software detects anomalous payments through its innovative behavioural analytics, machine learning, and artificial intelligence. The software monitors all of TWINT’s payment transactions in real-time and provides a risk score through profiling.
The software ensures accurate detection and a minimal volume of false positives, fostering customer trust whilst keeping operational costs low. Machine-learning algorithms help financial institutions to discover and stay on top of emerging threats from fraud schemes.
TWINT chose NetGuardians as a provider due to its capability to monitor, process, and store large volumes of transactions in real-time while providing the best possible protection for TWINT’s customers.
Joël Winteregg, NetGuardians Co-Founder and CEO, said: “This is more than a new contract for NetGuardians, it is the perfect example of two Swiss fintechs who both became leaders in their respective domains and are partnering to make Swiss payments faster and safer.”