Adflex partners with Signifyd to bolster payment security checks

Business-to-business payments specialist Adflex has teamed with fraud protection company Signifyd to strengthen security checks for its merchant customers.

According to Adflex, the partnership will focus on enhancing security checks and reducing fraud for its merchant customers through machine learning, velocity checks and AI.

The company added that Signifyd’s platform will allow Adflex to make use of machine learning and big data to automate online order flows and separate fraudulent and legitimate orders in real time. This will provide Adflex’s customers with ‘complete trust’ and help their transactions be more authentic and secure.

Adflex said the integration will also automatically perform velocity checks to instantly access and identify irregular payment patterns that may signify fraud. The company mentioned these checks are designed to monitor the pace at which buyers submit transactions, helping to identify and intercept fraudsters that look to max out stolen card details.

Adflex – which processes over seven million supply chain transactions a year for over 4,000 businesses – currently uses EMV 3-D Secure to provide seamless authentication to its ecommerce customers.

Through the alliance, the firm will bring further fraud protection to its user base through the integration of Signifyd’s machine learning technology into its B2B payment offering through API.

Adflex CEO Pat Bermingham said, “B2B payments are becoming more digitised as buyers and sellers seek to simplify and accelerate their transaction flows and establish greater control over their payments.

“By partnering with Signifyd, Adflex is able to provide instant, automated protection to our customers, enhancing our existing anti-fraud offer through cutting-edge machine learning technology. Our modernised suite of digital payment services, each wrapped in a RESTful API, ensures our acquirer and merchant clients can quickly and easily benefit from these value-added services.”

Signifyd managing director for EMEA Ed Whitehead added, “As a leader in the fraud management space we are always looking for ways to enhance our offering to clients so we are pleased to announce our partnership with Adflex. As a specialist in business payments, Adflex understands the complexities and challenges of the digital landscape, sharing Signifyd’s desire to simplify the process for buyers and sellers while keeping them secure online.”

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