Wibmo's Intelligent Fraud Detection and Prevention System for Digital Payments

1. Wibmo's Intelligent Fraud Detection and Prevention System for Digital Payments Wibmo Inc., a leading technology and service provider for the financial services industry, has launched the next-generation fraud management system for digital payments named TRIDENT™. TRIDENT™ is a fraud detection and prevention system with statistical self-learning capabilities. It effectively reduces fraudulent attacks by studying and adapting as per consumer behaviour and fraud patterns. As the modern era of digital payments comes with its own set of challenges, securing digital payment platforms and protecting them from fraudulent transactions is one of the biggest challenges that banks and financial institutions face today. Let's look at the advanced features of TRIDENT™, which helps banks and financial institutions tackle these challenges. Advanced Fraud Management System for Emerging Markets According to Wibmo, TRIDENT™ is one of the most comprehensive fraud management systems. It can perform real-time fraud detection, combining the approaches of both rule-based systems and machine learning systems, making it one of the most efficient systems for fraud detection. TRIDENT™ takes leverage from the immense amount of experience Wibmo has in providing payment security in India. Before TRIDENT™, Wibmo's eGuardTM had been providing excellent services in payments security in Indian markets. TRIDENT™ builds upon its predecessor's immense success and takes this approach to the next level by amalgamating the simplicity of a rule-based approach with the machine learning approach's sophistication. Hence, this system is self-sustained in learning about the fraud patterns and preparing for any fraudulent transactions in the future. TRIDENT™ can work across multiple channels, devices, and payment instruments without any problem. The system works through profiling and scoring each transaction in real-time based on point-in-time fraud trends and patterns. Historical data and customer behaviour are closely monitored to provide the most advanced system to detect fraudulent activities. Comprehensive risk assessment based on diverse sources of data

2. TRIDENT™ analyses each transaction through various data sets to calculate its risk score. Among the data sets that are analysed include: 1. 3DS 1.0 and EMV® 3-D Secure authentication data 2. Consumer behavior and spend analysis 3. Transaction fingerprinting based on multiple factors such as device information, usage behavior, and location Innovation and Leadership Building on Wibmo's reputation as one of the most innovative companies in the sector of payments solutions, TRIDENT™ incorporates many innovations to protect all parties in a payment transaction. TRIDENT™ is truly an epitome of a state-of-the-art fraud management system that delivers quality services at a low price. It incorporates all the modern approaches and tools used by the fraudsters and takes the game away from them by staying a step ahead and applying a proactive approach rather than a reactive one. About Wibmo Inc. Established in 1999, Wibmo is a leading digital payments solutions provider based in Cupertino, California. It offers a full suite of financial products and services, including Trident FRM, Tridentity Check, ACCOSA IVSTM, and risk-based authentication. Wibmo has a concrete strategic alliance with 130+ banks across 25 geographical locations worldwide. With the support of its talented team, Wibmo has globally provided highly digitised and technically advanced payment platforms for customers. With over 2.2 billion global transactions done annually, Wibmo has proved to be a veteran in the sector of financial technology and online payment. Learn more about the company at www.wibmo.co. Source: https://www.issuewire.com/wibmos-intelligent-fraud- detection-and-prevention-system-for-digital-payments- 1698721952967729