Nymbus partners with DataVisor

With its technology solutions, Nymbus aims to enable banks and credit unions to modernise their tools and offerings, including developing new digital banks and improving their legacy infrastructure. By integrating DataVisor’s fraud platform, the company’s financial institution partners can upgrade their digital capabilities with reduced fraud risks. Moreover, Nymbus clients receive holistic fraud prevention and risk management solutions, with the two companies intending to help them reduce fraud losses while ensuring a simplified customer experience.

According to Nymbus’ officials, the partnership with DataVisor is part of the company’s strategic roadmap, aiming to allow its customers to achieve fraud-safe growth as they expand. DataVisor’s platform, paired with its generative AI and machine learning technology, enables Nymbus’ clients to expand with security and agility. The collaboration also solidifies the company’s position as a partner to their customers’ organisations.

DataVisor’s machine learning and cloud architecture intend to deliver real-time data orchestration, as well as improved fraud detection and decisioning. Representatives from DataVisor stated that the partnership with Nymbus introduces fraud solutions that enable the latter’s bank and credit union partners to enhance their digital banking offerings. The two companies’ shared objective is to improve financial services by combining technology with fraud security, thus delivering digital banking quality for customers. 

With its fraud and financial crime prevention platform enabled by AI and machine learning capabilities, DataVisor enables customers to protect against future attacks before they happen by detecting and acting on fraud patterns in real-time. Recently, the company had multiple product launches and partnerships, including the introduction of AI Co-Pilot, a generative AI-facilitated fraud solution. Through this technology, the company aimed to enable financial institutions to respond to real-time fraud faster and be accurate in identifying fraud when compared to traditional solutions.

Moreover, in August 2023, DataVisor released a new solution to prevent instant payment fraud. The Real-time Payments Fraud Solution uses account life-cycle signals, advanced machine learning techniques, and prebuilt rules tested for real-time payment fraud scenarios. By leveraging the solution, financial institutions could safely introduce instant payment technologies.

At the end of July 2023, DataVisor partnered with Q6 Cyber to improve fraud detection accuracy. Through this collaboration, the company was set to integrate and centralise threat intelligence data in a single platform for added financial fraud detection accuracy and speed.