Swiss PayTech TWINT selects Netguardians to fight fraud

By Gloria Methri

Swiss payment app TWINT has partnered with enterprise risk platform NetGuardians as part of an enhanced fraud prevention program. NetGuardians software detects anomalous payments through its behavioural analytics, machine learning, and artificial intelligence. The software monitors all of TWINT’s payment transactions in real time and provides a risk score through profiling.

It boats accurate detection and a minimal volume of false positives, fostering customer trust whilst keeping operational costs low. Machine-learning algorithms help financial institutions to discover and stay on top of emerging threats from fraud schemes.

TWINT said it chose NetGuardians as a provider due to its capability to monitor, process, and store large volumes of transactions in real time while providing the best possible protection for TWINT’s customers.

Joël Winteregg, NetGuardians Co-Founder and CEO, said, “This is more than a new contract for NetGuardians, it is the perfect example of two Swiss FinTechs who both became leaders in their respective domains and are partnering to make Swiss payments faster and safer.”

TWINT is a secure payment app that allows users to complete digital transactions online through their mobile phones. Since being founded in 2014, it has been developing Switzerland’s digital cash.

NetGuardians is a Swiss FinTech helping financial institutions in over 30 countries fight fraud. More than 80 banks, including UOB and Pictet & Cie, rely on NetGuardians’ smarter artificial intelligence (AI) solution to prevent fraudulent payments in real-time. It is the fraud-prevention partner of major banking software companies, including Finastra, Avaloq, Mambu, and Finacle.