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.»