Financial Crime World

GREENLAND TACKLES NEW-AGE FRAUDS WITH REAL-TIME PAYMENTS FRAUD PREVENTION SOLUTIONS

In the wake of rapidly evolving digital payment technologies, Greenland’s financial institutions are now grappling with an increasing risk of dire security challenges. From simple identity thefts to sophisticated account takeovers, today’s payment ecosystem in Greenland is vulnerable to digital payment frauds that demand robust and adaptive defence mechanisms.

Addressing the Concern

To address this pressing concern, BANKiQ, a leading provider of end-to-end payment protection solutions, has empowered financial institutions in Greenland with real-time payment fraud prevention capabilities. With its intelligent microservice-based architecture, BANKiQ’s solutions actively aid in pre-emptive fraud mitigation through risk-based transaction monitoring and fraud prevention features.

Comprehensive Approach to Intelligent Fraud Prevention

BANKiQ’s comprehensive approach to real-time payments fraud prevention encompasses:

  • Frictionless Payments Experience: Ensuring seamless payment journeys that reassure transaction experience without compromising security.
  • Timely Investigation and Reporting: Facilitating holistic fraud risk investigation support and addressing complex payment frauds through link analysis, case management, and automated Suspicious Transaction Reporting (STR) capabilities.
  • Laundering/Fraud Detection: Providing out-of-the-box compliance support to navigate regulatory challenges, including screening associations against sanctioned lists and reporting anomalous activity to authorities.

Solutions for Greenland’s Financial Institutions

BANKiQ’s suite of solutions is designed to meet the unique needs of Greenland’s financial institutions, including:

  • Fraud Risk Compliance (FRC): A true real-time, cognitive-powered ML solution providing complete payment fraud management and compliance capabilities.
  • Innovative Fraud Risk Management (IFRM): An innovative step towards real-time payment fraud prevention for digital banking frauds, instant payment frauds, and internal frauds.
  • PULSE: A hosted FRM solution that provides fraud detection, prevention, and reporting in a unified cloud-based solution.

By embracing BANKiQ’s advanced real-time payments fraud prevention solutions, Greenland’s financial institutions can effortlessly validate transactions, identify anomalies, and prevent them before they escalate. Leverage our all-encompassing fraud risk platform and safeguard your payment operations to ensure seamless and secure transactions.