Financial Crime World

New Zealand Businesses Turn to Fraud Detection Tools to Combat Financial Threats

Advanced Software Solutions Protect Against Financial Fraud

In an effort to safeguard against financial fraud, many New Zealand businesses are turning to advanced software solutions. According to industry experts, fraud detection tools have become a critical component in preventing and detecting fraudulent activities that can result in significant financial losses.

Leading Fraud Detection Tools for New Zealand Businesses

1. VigilantPay

  • Offers business payment software that reviews proposed payments and detects fraud and errors before they reach the bank.
  • Provides advanced onboarding vendor functionality and audit and risk reporting features for management and board members.

2. Fraud.net

  • A cloud-based enterprise fraud and risk management platform serving banks, fintechs, lenders, and digital commerce enterprises.
  • Enables businesses to identify and prevent fraudulent activities in real-time.

3. fcase

  • A financial fraud detection software that helps businesses detect counterfeiting, embezzlement, and other malpractices.
  • Streamlines legal, compliance, customer experience, and fraud investigation processes for financial and investment organizations.

Other Notable Fraud Detection Tools

1. PayPal Commerce Platform

  • Offers a comprehensive solution designed to serve the needs of businesses and customers alike.
  • Provides advanced payment processing features, including fraud detection and prevention tools.

2. MATLAB

  • A programming and numeric computing platform that enables businesses and educational institutions to create models, develop algorithms, analyze data sets, and more.
  • Widely used in various industries, including finance and banking.

3. Authorize.net

  • A secure payment gateway that connects with various systems, including shopping carts, accounting software, and subscription services.
  • Backed by Visa’s 99.999% uptime.

Additional Fraud Detection Solutions

1. Tipalti

  • Offers accounts payable, procurement, and payment controls platform that provides businesses with the ability to configure data access flows, establish signatory rights, and protect against fraud.

2. Braintree Payment Solutions

  • An online payment gateway that allows businesses to process eCommerce transactions on mobile platforms and desktop.
  • Provides multi-lingual sales support, live customer support, and customized design options.

3. Kount

  • Offers an online platform that provides a comprehensive tool for reducing fraud and manual reviews for online and CNP merchants.

More Fraud Detection Solutions

1. Signifyd

  • Offers Guaranteed Fraud Protection solution that evaluates orders at checkout and delivers instant decisions backed by a 100% financial guarantee against fraud on all approved orders.

2. SEON

  • A modular API-based solution that helps businesses stop fraudsters of any complexity.
  • Provides advanced defense mechanisms that prevent carders, account takeovers, and sophisticated fraud rings.

Conclusion

New Zealand businesses are turning to advanced software solutions to combat financial threats. With the help of fraud detection tools, they can effectively prevent and detect fraudulent activities, reducing the risk of significant financial losses.