Payments platform Pidgin links with fraud fighter Effectiv

Pidgin

Pidgin, a real-time payments platform, has partnered with fraud-fighting and compliance automation platform Effectiv.

According to Pidgin, the partnership will help financial institutions monitor transactions to detect and prevent payments fraud in real-time.

Through the partnership, financial institutions using Pidgin’s faster payments platform will now have access to Effectiv’s fraud mitigation tools. With machine learning-driven fraud protection and AML/BSA parameters, Effectiv’s transaction monitoring and payment fraud detection solutions can help keep account holders’ money secure while reducing fraud losses for financial institutions.

Pidgin said, “Effectiv complements Pidgin’s faster payment platform to help financial institutions of all sizes detect and flag threats in real-time across transaction types. Pidgin’s financial institution clients can now utilize Effectiv’s solutions to enhance compliance and risk management, ensuring all transactions are processed appropriately without sacrificing speed or being exposed to additional fraud or security threats.”

Pidgin CEO and founder Abhishek Veeraghanta said, “The team at Pidgin is thrilled to offer Effectiv’s sophisticated fraud mitigation tools to our clients. Financial institutions are quickly realizing the potential of the rich data that comes with instant payments.

“With Effectiv, Pidgin offers a new way for financial institutions to leverage that transaction data and use it to combat fraud more holistically and effectively without relying on time-consuming back-end processes and manual workflows, which can make it difficult to process payments in a real-time environment. We look forward to our relationship with Effectiv, as more community banks and credit unions seek to adapt their back-office operations and risk management workflows to keep up with faster payments.”

Elsewhere in the RegTech space, commerce protection provider Signifyd has teamed up with Adobe to improve access to fraud and abuse protection services.

Keep up with all the latest FinTech news here.

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