Award-winning Swiss FinTech, NetGuardians, known for its enterprise risk platform focused on combating bank fraud, has been chosen by PalawanPay, the e-wallet app from the Palawan Group of Companies, to bolster its fraud prevention measures.

PalawanPay, trusted by over 19 million customers across the Philippines for affordable, fast, and secure money transfers, bills payments, mobile e-loading, and scan-to-pay services, sought to further enhance its fraud protection by partnering with NetGuardians.

NetGuardians provides AI-driven solutions, available both as SaaS and on-premise, to clients across Europe, Africa, Middle East, and Asia Pacific for real-time fraud prevention and detection. Its pre-trained AI risk models are designed to quickly identify fraudulent transactions while minimizing false alerts. This will allow PalawanPay to safeguard its customers’ funds and reduce fraud investigation costs by up to 75%.

“In less than two years, 15 million people have registered with us and downloaded our app. We greatly appreciate the trust our “sukis” (loyal customers) have placed in our service, and we are committed to prioritizing the safety of their funds while ensuring a seamless experience. NetGuardians enables us to prevent fraud without slowing down transactions, supporting our brand promise of providing “mura, mabilis at walang kuskos-balungos na serbisyo” (affordable, fast, and hassle-free service),” said Third Librea, PalawanPay’s Business Executive Officer.

“The rise in fraud, such as scams and account takeovers, is a growing concern for everyone. PalawanPay and other financial institutions are taking these threats seriously. Our solutions can accurately detect suspicious transactions without disrupting customer service,” added Tat Wee Koh, NetGuardians’ APAC Sales Director.