SIA, INFORM partner on anti-fraud initiative
An agreement between the two partners will seem them aim to fight frauds on digital payments.
Italy’s technology infrastructures and electronic payments group SIA has signed a fraud prevention agreement with risk management and fraud prevention software specialist INFORM.
The agreement will see SIA offer fraud prevention and risk management to its acquiring banks and financial clients across Europe through the integration of INFORM’s RiskShield software inside its own acquiring infrastructure. SIA said that the aim was to improve the security of payment and card transactions.
RiskShield integrates various software technologies such as fuzzy logic, dynamic profiling and machine learning capabilities in a single platform. The agreement will initially focus on safeguarding SIA’s card acquiring business before being rolled out to instant payments, electronic commerce (e-commerce) transactions and telecommunication services..
“SIA manages more than 9bn clearing transactions and 3.6bn card payments and we found in RiskShield the innovative anti-fraud solution that could match our strategic ambition and deliver a robust and reliable service,” said Gabriele Boni, SIA’s financial institutions director.