Finix, enabling businesses to accept and send payments both online and in-store, today unveiled Advanced Fraud Monitoring.
This innovative solution marks a significant enhancement to Finix’s security arsenal, developed in partnership with Sift, and is tailored for merchants and payment facilitators.
The need for Advanced Fraud Monitoring arises from the increasing sophistication of financial fraudsters. As businesses face growing threats, Finix’s latest product provides cutting-edge tools designed to stay one step ahead in the security game.
Finix specializes in seamless payment processing solutions. Their comprehensive platform supports a wide array of payment operations, ensuring that businesses can manage transactions efficiently without technical complications.
The newly launched Advanced Fraud Monitoring leverages AI technology and machine learning to scrutinize every transaction. It features backtesting, rule simulation testing, and custom-defined rulesets, which allow businesses to tailor their fraud detection mechanisms. This proactive approach ensures that all customer transactions are monitored effectively, with real-time adjustments supported by Finix’s expert team.
This product not only simplifies fraud monitoring through a no-code, user-friendly dashboard but also ensures that businesses can adapt quickly to emerging security challenges without needing extensive technical know-how.
Additional features of the product include the detection of suspicious IP activities, email verification, and checks against known fraudulent domains. This suite of tools is designed to combat the creation of fake accounts and unauthorized financial movements, thereby safeguarding customer transactions against a backdrop of evolving digital threats.
“At Finix, ensuring the security of our customers’ transactions is our top priority, which is why we partnered with Sift to build industry-leading fraud prevention that’s accessible to any business, regardless of size or resources,” said Finix CEO and co-founder Richie Serna. “Without a single line of code, companies can implement and customize powerful, AI-driven fraud protection in a matter of clicks—no developer needed.”
“Payment service providers and payment facilitators are in the crosshairs as fraud actors continue to weaponize AI and automation,” said Armen Najarian, CMO at Sift. “By partnering with Finix, payment facilitators and merchants can keep fraud off their platforms and grow fearlessly.”
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