TWINT partners NetGuardians for fraud mitigation

Wednesday 11 January 2023 13:25 CET | News

Switzerland-based payment app TWINT has partnered fintech NetGuardians to bolster fraud mitigation with real-time transaction monitoring through its AI software.


An enterprise risk platform for combatting financial fraud, NetGuardians’ software helps with the detection of anomalous payments through means of behavioural analytics, machine learning, and artificial intelligence.

Details on what the collaboration entails

As per information provided in the press release, the companies’ collaboration is a result of a TWINT fraud prevention enhancement programme.

NetGuardians’ AI software enables real-time transaction monitoring of all TWINT’s payment transactions and provides a risk score through profiling. Furthermore, the software helps ensure accurate detection and a minimal volume when it comes to false positives, thus helping with fostering customer trust, while simultaneously keeping operational costs low. 

Additionally, its machine-learning algorithms enable financial institutions to not only discover, but also stay ahead of emerging threats from fraud schemes. Based on information provided in the announcement, TWINT partnered NetGuardians due to its capabilities for monitoring, processing, and storing of large volumes of transactions in real-time, while simultaneously providing protection for its customers.

Switzerland-based payment app TWINT has partnered fintech NetGuardians to bolster fraud mitigation with real-time transaction monitoring through its AI software.

TWINT, NetGuardians product offering and past developments

TWINT is a Switzerland-based secure payments app with more than four million active users, enabling customers to carry out transactions through their mobile phone both in-store and online.

As part of its recent developments, the company announced in September 2022 a collaboration with Switzerland-based fintech and Cembra subsidiary Swissbilling looking to expand its payments options and increase their flexibility. At the time, no information was provided on how the payment option would look like; however, the launch of the integrated solution was confirmed to be planned for 2023. 

NetGuardians helps financial institutions in more than 30 countries to combat fraud. Its 3D AI solution is leveraged by over 80 banks and wealth managers to prevent fraudulent payments in real-time.

In December 2022, the company made public a collaboration with Bank of Africa (BOA), enabling the latter to leverage its fraud prevention software for the safeguarding of its Morocco-based branches and assets against internal and payment fraud. 

Earlier that same month, NetGuardians launched its Community Scoring & Intelligence Service which helps collect insights and intelligence from banks, fintechs, and other sources to provide an enhanced scoring capability. The news followed the November 2022 launch of the company’s AML transaction monitoring solution.

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Keywords: partnership, fraud prevention, transaction monitoring, risk management, machine learning, artificial intelligence, behavioural analytics
Categories: Fraud & Financial Crime
Companies: NetGuardians, TWINT
Countries: Switzerland
This article is part of category

Fraud & Financial Crime




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