Fintech

A revolutionary frictionless fraud prevention for fintech

Paygilant helps Neo, Challenger and Digital banks by mitigating the trade-off, between superior user experience and money loss prevention, without compromising privacy. 

Problem

With Fintech disrupting the financial landscape and driving it towards a cashless world, challenger/neo banks and eWallets are building their apps with a mobile-first strategy. However, as fraud is on the rise, they are challenged with various sophisticated fraud attacks, which are not effectively addressed by the existing fraud prevention layers.

The use cases combated by Paygilant are: New Account Fraud, Account Takeover, Transaction Fraud, Cross-Bank Fraud, Sign-up/Coupon Fraud and SIM-Swap Fraud.

Solution

Paygilant seamlessly validates the legitimate customers and protects against all fraud types including money laundering that impact the fintech ecosystem. Their main goal is to deliver a continuously increasing value to banked and unbanked consumers, giving them financial as well as commercial flexibility.

Business model 

With Paygilant, there’s no need to wait for the money to disappear. Thanks to its patented 6 Intelligence Sets, the company can detect potential fraud from all possible angles before the user’s transaction takes place, reducing friction for your customers.

1. Device DNA: The next generation of device fingerprinting, overcoming the constant policy hardening applied by Google and Apple, creating a unique ID for each device, indicating on a suspicious device, observing whether it has been manipulated.
2. User Space: Observing the device’s environment gives important insights indicating a suspicious device and allowing it to recognize a genuine returning customer, avoiding adding friction to their user experience.
3. Activity Map: A unique flow of the user’s navigation is mapped determining a pattern of consistent interaction with the app, allowing it to observe whether the actions taken are aligned with those of the legitimate user.
4. Bio Markers: There are no two people alike. With this intelligence layer, unique behavioral biometric attributes are observed, such as touch velocity, intervals, finger size, scrolling pace, gestures and more.
5. App Insights: By correlating internal and external information, the user’s identity can be validated as soon as data is available from the application.
6. Transactions: Transactional behavior is analyzed, revealing unique details, as well as whether it is related to personal patterns.

Competitive advantages

Paygilant offers a fully managed service, the company provides a dedicated tech & fraud team. With 20+ years of industry knowledge, it is known how fraudsters operate and how to stop them. End users are protected from fraud without burdening them with additional steps to authenticate.

There is no need for lengthy complex processes or waiting to build profiles – integrate in a matter of days. Streamlining the entire process eliminates costly steps. Detection from day 1:

From the moment the customer opens the app, Paygilant can start detecting potential fraud.