With this new product, the company aims to boost fraud detection accuracy and reduce false positives to protect customers’ user experiences. Galileo states that clients using its rules-based, customizable Dynamic Fraud Engine experience fraud losses of approximately one basis point, on average.
Galileo has also opened its suite of APIs and sandbox to enable developers to experiment and test their creativity in a secure environment without signing an NDA. It has also created its cryptocurrency API to bridge the gap between cryptocurrencies and payments by enabling customers to deposit funds denominated in cryptocurrencies to their accounts.
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