Cost, banking, and funding methods supplier FIS introduced at this time that it’s partnering with Stratyfy to bolster the capabilities of its SecurLOCK card fraud administration answer.
After testing the brand new SecurLOCK capabilities with clients, FIS anticipates that the up to date instrument will improve precisely recognized card transactions and assist forestall fraud. This can cut back friction for finish shoppers by minimizing fraud and disruption skilled due to false positives.
“With subtle fraudsters utilizing new applied sciences to extend fraud assaults, each companies and shoppers are dealing with extra threat than ever earlier than,” stated FIS Head of Fraud Companies Eric Kraus. “This new collaboration is a continuation of a dedication to implement new applied sciences, serving to companies forestall fraudulent conduct to guard the shoppers they serve.”
Based in 2017, Stratyfy offers predictive analytics and choice administration options for monetary establishments. The corporate demoed certainly one of its options, UnBias, at FinovateFall 2022, and gained a Better of Present award for its presentation. Among the many firm’s different options are Credit score Threat Evaluation and Fraud Detection. Stratyfy is certainly one of 80 graduates of FIS’ Fintech Accelerator, having accomplished the 12-week program in 2020.
“It’s rewarding to see how our distinctive machine studying method can allow higher outcomes via this answer,” stated Stratyfy CEO, and co-founder Laura Kornhauser. “Our relationship with FIS showcases the large worth that’s doable via partnerships, and we’re thrilled to proceed to construct upon this essential work.”
Banking expertise firm FIS was based in 1968, and has a present market capitalization of $40 billion. Earlier this yr, the Florida-based firm acquired post-trade SaaS platform Torstone Know-how to boost its personal capital markets providing. In keeping with Crunchbase, the acquisition marks FIS’ twenty sixth acquisition.
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