Finastra, a global leader in financial services software, today announced its partnership with FraudAverse, a global leader in financial crime prevention and fraud detection. The collaboration brings an advanced, AI-driven fraud prevention solution to Finastra’s Financial Messaging customers, delivering real-time protection against emerging threats and reducing operational costs.
“As payment volumes grow and fraud tactics become more sophisticated, financial institutions must tap into robust, cloud-ready prevention solutions,” said Stephanie Mitchell, Director of Product Management, FMM at Finastra. “Working with FraudAverse enables us to bring a flexible offering to banks which is optimized for today’s fast-moving payments landscape. We expect many of our customers will opt to make use of this pre-integrated solution.”
FraudAverse employs intelligent AI-powered systems to rapidly detect and stop both known and emerging threats, deterring up to 99% of all fraudulent transactions.
The partnership sees the FraudAverse platform pre-integrated into Finastra Financial Messaging software to help banks identify and mitigate fraud attacks with speed and accuracy. Together, the companies are delivering real-time detection via intelligent AI systems, as well as low latency support for instant payments and scalability as payments volumes increase. By reducing investigation time required for threats, banks benefit from greater efficiencies and rapid implementation via the pre-integration meaning minimal IT resources.
“Financial Crime prevention is a critical priority for financial institutions worldwide,” said Constantin von Altrock, CEO at FraudAverse. “Our collaboration with Finastra combines advanced AI technology with seamless integration, empowering customers to protect their transactions in real-time and with confidence.”
This solution provides customers with the flexibility to support various messaging formats, offering decisions in real-time – critical in handling instant payments. This partnership is a testament to Finastra’s commitment to working in collaboration, innovating finance together, and in this case bringing customers a powerful, pre-integrated solution that combats fraud effectively.
