Merchants who process their ecommerce payments via Deutsche Bank can now use Decision Manager, an automated fraud detection system from Visa-owned company Cybersource.
As explained in the company press release, the solution works like a risk management system and calculates a risk value for each individual transaction using artificial intelligence and specified rules.
The application uses advanced risk models and global data intelligence from billions of data points of the Visa network, allowing good transactions to be accelerated and suspected fraudulent transactions to be blocked. The offer is aimed at small, medium-sized, and large companies.
Denise Burkett-Stus, Head of Cybersource Europe explains that ‘as we continue to see more digitalisation across the retail industry, small and large businesses are inevitably exposed to new fraud and cyber-risks. With the increasing volumes and associated costs of cyber-related attacks, the Visa solution Cybersource helps Deutsche Bank to resolve the tension between making payments easy and keeping their client’s business safe.’
In 2022, Deutsche Bank visibly forayed into fintech. In July 2022, Deutsche Bank has announced cooperating with Austria-based fintech Credi2 to develop a white-label Buy Now, Pay Later product for online retailers and ecommerce marketplaces.
Just a month later, news of another strategic partnership broke, Deutsche Bank partnering with Traydstream to automate document checking for their Trade Finance products. The partnership with Traydstream reportedly improved the bank’s ongoing efforts to digitise and automate its documentary trade business, increasing controls, ensuring scalability for growth.
Most recently, Deutsche Bank Vice President Karl von Rohr has announced plans to launch an app-based securities investments offer. The bank intends to launch this independent digital offering for securities investments based on an app in 2024. The new offer is aimed at people who want to have their assets managed professionally, want to trade securities online, and do their banking purely digitally.
According to Bloomberg, Deutsche Bank is one of the banks that registered surging income from loans in the past year, claiming that this would more than offset the negative effect of the region’s energy crisis, as central banks hike interest rates sharply to tackle inflation. Bloomberg suggests that Deutsche Bank will top a full-year revenue of between EUR 26-27 billion.
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