RiskShield achieves compatibility with EBA Clearing's FPAD initiative

Thursday 4 July 2024 14:01 CET | News

INFORM has announced that its financial crime and risk management solution, RiskShield, is now fully compatible with EBA Clearing’s Fraud Pattern and Anomaly Detection (FPAD) initiative.


This development aligns RiskShield with the standards set by the European Banking Authority and the European Payment Council for fraud prevention and detection in payment services. The integration of FPAD's risk indicators and IBAN/Name check results into RiskShield enhances its fraud prevention capabilities in real-time. This addition ensures that financial institutions using RiskShield benefit from advanced fraud detection measures, bolstering their defences against sophisticated fraudulent activities.

FPAD is a crucial part of EBA Clearing’s framework to improve the security of payment services across Europe. It aids financial institutions in implementing advanced measures for preventing and detecting fraudulent activities. By providing a centralized, real-time view of payment risks and utilizing advanced analytics and machine learning, FPAD strengthens the fraud detection capabilities of European financial institutions and Payment Service Providers (PSPs).


Key features of FPAD include:

  • Centralized Network View: Analyses SEPA Credit Transfer and Instant Credit Transfer transactions to create a comprehensive view of payment risks across the SEPA region.

  • Prevention Modules: Validates account details with an IBAN/Name check and assesses risks of account manipulation and transactions in real-time using advanced analytics and AI models.

  • Detection Modules: Allows post-transaction investigation of payment risks for detailed analysis and validation.

RiskShield, enhanced with FPAD analytics and detection capabilities, offers banks and PSPs improved risk management by reducing false positives and streamlining operations. This integration provides existing customers with enhanced security measures and potential customers with advanced fraud prevention technology and regulatory compliance.

About the solution

RiskShield is used by over 250 financial institutions globally and has been a leading fraud prevention solution for more than 20 years. Utilizing Hybrid AI technology, INFORM’s software provides scalable fraud detection capabilities, ensuring robust protection against financial crime.

INFORM specializes in optimizing business processes through Digital Decision Making based on Artificial Intelligence and Operations Research. The company enhances classic IT systems to increase profitability and resilience. INFORM serves over 1,000 customers worldwide, including container terminals, commercial airports, financial services providers, manufacturing companies, wholesalers, warehousing and handling centres, and transport companies.

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Keywords: risk management, financial crime, fraud detection, machine learning, financial institutions
Categories: Fraud & Financial Crime
Countries: Europe
This article is part of category

Fraud & Financial Crime




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