Fingerprint and Oscilar Join Forces to Bolster Fraud Prevention in FinTech

In a bid to combat the escalating threat of online payment fraud, Fingerprint, renowned for its precision in device intelligence, has forged a strategic alliance with Oscilar, a frontrunner in AI-driven risk and fraud management solutions, as outlined in Fintech Global News.

The urgency behind the collaboration stems from the projected losses of a staggering $343 billion between 2023 and 2027 due to the surge in online payment fraud. As consumers increasingly embrace digital financial platforms, the imperative for robust fraud prevention measures that seamlessly integrate with user experience becomes ever more pronounced.

Fingerprint’s prowess lies in its device intelligence platform, leveraging proprietary Smart Signals to create a distinct identifier for each user interaction with an accuracy rate soaring up to 99.5%. This empowers FinTech companies with comprehensive insights, enabling swift and well-informed decisions grounded in reliable data analytics.

On the other hand, Oscilar specializes in a no-code, AI-powered risk decisioning platform tailored to the needs of FinTechs, banks, and credit unions. This platform facilitates agile management of fraud, compliance, and credit risks, streamlining operations without extensive reliance on engineering resources.

Through this collaboration, FinTechs, banks, and credit unions gain the capability to seamlessly integrate Fingerprint’s advanced device intelligence into Oscilar’s versatile no-code platform, spanning across various touchpoints of customer interaction. This integration plays a pivotal role in thwarting a spectrum of fraud scenarios, including new account fraud, account takeovers, and payment fraud.

Dan Pinto, CEO of Fingerprint, remarked, «By partnering with Oscilar, we empower our customers to strike a harmonious balance between user convenience and robust security. Our commitment lies in furnishing businesses with the most dependable, efficient, and secure solutions to shield their assets and uphold the trust of their clientele.»

Other articles
The Role of Trust in Financial Regulation
Stripe Expands in the UK with New Payment and Financing Tools
FIS Enhances Mobile Banking App with Biometrics and Advanced Money Movement Features
NCR Voyix Offers US Restaurants a QR Powered Pay-At-Table Software Solution
Swift Introduces the ISO 20022 Corporate Payment Tracking API Channel
The Beginning of AI and Embedded Finance: Insights from Visa at the Dubai FinTech Summit
Parkopedia and Irdeto Collaborate to Revolutionize EV Charging
Temenos Launches Responsible Generative AI Solutions for Core Banking
A Micro-Investing App Is Debut by FutureMoney to Assist Families in Securing Their Financial Future
Commerce Bank Adopts FedNow via Temenos Payments Hub to Boost Modernization
Personetics: Examining the Effects of AI on Banking
bunq Enhances AI-Driven Banking and Travel Insurance Offerings
Shaping the Future of Payments: Insights from Tribh Grewal at Pay360
Visa Unveils Digital-First Products for the Modern Age
How Automation is Transforming Financial Institutions’ Ongoing Monitoring