Italy’s technology infrastructures and electronic payments group SIA has signed a fraud prevention agreement with risk management and fraud prevention software specialist INFORM.
The agreement will see SIA offer fraud prevention and risk management to its acquiring banks and financial clients across Europe through the integration of INFORM’s RiskShield software inside its own acquiring infrastructure. SIA said that the aim was to improve the security of payment and card transactions.
RiskShield integrates various software technologies such as fuzzy logic, dynamic profiling and machine learning capabilities in a single platform. The agreement will initially focus on safeguarding SIA’s card acquiring business before being rolled out to instant payments, electronic commerce (e-commerce) transactions and telecommunication services..
“SIA manages more than 9bn clearing transactions and 3.6bn card payments and we found in RiskShield the innovative anti-fraud solution that could match our strategic ambition and deliver a robust and reliable service,” said Gabriele Boni, SIA’s financial institutions director.
UK prime minister Theresa May has confirmed that the UK is ready to leave Europe’s single market.
The UK aerospace group agreed a settlement with authorities in the US, US and Brazil.
The industry needs to digitise its core businesses, cuts costs and create increased shareholder value, concludes a report from Oliver Wyman.
An upgrade for the US, Europe and Japan is offset by downgrades for Mexico and other major emerging economies.