Finastra, a UK-based financial services software provider, has announced a partnership with FraudAverse, a fraud detection and financial crime prevention company, to deliver real-time, AI-driven fraud prevention capabilities to Finastra's Financial Messaging customers.
The FraudAverse platform has been pre-integrated into Finastra's Financial Messaging software, enabling banks to deploy the solution with minimal IT resource requirements. The integration is designed to support real-time fraud detection across various messaging formats, with low-latency performance intended to meet the demands of instant payment environments. FraudAverse states its AI-powered systems are capable of deterring up to 99% of fraudulent transactions, covering both known and emerging threat types.
Capabilities and operational benefits
The joint solution provides financial institutions with real-time transaction monitoring, scalability as payment volumes increase, and reduced investigation time for flagged threats. By embedding fraud prevention directly within Finastra's Financial Messaging infrastructure, the partnership removes the need for banks to manage separate system integrations, aiming to lower operational costs and accelerate deployment timelines.
Furthermore, the solution supports multiple messaging formats, a relevant consideration for institutions operating across different payment rails and jurisdictions. As instant payment schemes expand globally, low-latency fraud detection has become an increasingly critical requirement, given the narrow window available to identify and block fraudulent transactions before settlement is finalised.
Commenting on the decision to team up, Stephanie Mitchell, Director of Product Management at Finastra, said the partnership brings a flexible, cloud-ready offering to banks optimised for a fast-moving payments landscape, and indicated she expects a significant portion of Finastra's customer base to adopt the pre-integrated solution. Expanding on this, Constantin von Altrock, CEO of FraudAverse, described the collaboration as combining advanced AI technology with integration to enable customers to protect transactions in real time.
Recently, Finastra also rolled out OperatorAssist, an AI-enabled add-on for its payment hub interface, designed to automate exception handling. The solution sought to minimise manual effort in payments exception management and decrease operational costs across the payment lifecycle.
