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Swiss Financial Institutions Flock to NetGuardians’ AI-Powered Fraud Prevention Software
As financial fraud continues to plague institutions across the globe, Swiss banks are turning to cutting-edge technology to stay ahead of the game. NetGuardians, a leading provider of real-time financial fraud detection and prevention software, has announced its SaaS offering is now available on Google Cloud.
Real-Time Fraud Detection and Prevention
The company’s AI-powered solution uses proprietary banking platform and pre-built risk models to identify and prevent fraudulent transactions in real-time. “Our solution eliminates the need for extensive data science expertise and saves time and resources,” says a spokesperson for NetGuardians.
Notable Clients and Success Stories
The software has already been adopted by over 100 million individuals worldwide, with notable clients including:
- 40% of Swiss state-owned commercial banks
- 45% of largest banks in Eastern Africa
- Three of the top five largest banks in Southeast Asia
Real-World Results
“NetGuardians’ fraud-prevention partner allows us to give our customers the best possible protection,” says Romano Ramanti, Ethical Hacker at Zürcher Kantonalbank. “We can spot and stop more attempts at defrauding them, and they won’t be contacted unnecessarily over authentic payments.”
Geoffroy De Ridder, Head of Technology and Operation at Lombard Odier, adds that the solution complements their infrastructure solutions to reinforce advanced fraud mitigation.
Key Features
The NetGuardians software offers a range of features, including:
- Real-time transaction monitoring
- AI-powered risk models
- Community intelligence
- Efficient and effective fraud detection
Benefits
NetGuardians claims its solution can reduce false positives by 85%, cutting the need for payment blocks and investigations and saving 75% on risk mitigation costs.
Community Intelligence
The company’s Community Intelligence feature allows financial institutions to leverage shared intelligence to stay ahead of evolving threats and ensure comprehensive, real-time protection. The company says this feature has already helped stop frauds, scams, and money mules with unmatched efficiency using shared intelligence and enriched insights.
Resources
NetGuardians’ latest blog posts have explored topics such as:
- Shifting the odds against money mules
- How feedback nourishes algorithms that starve fraudsters
- Comprehensive fraud prevention demands a multilayered approach
The company has also been featured in several white papers on financial crime prevention and detection.
Learn More
For more information on NetGuardians’ SaaS offering or company, please visit their website.