NetGuardians powers PalawanPay to drive fraud protection in the Philippines

By Gloria Mathias

Swiss FinTech, NetGuardians, has been chosen by PalawanPay, the e-wallet app from the Palawan Group of Companies, to bolster its fraud prevention measures in the Philippines.

PalawanPay, trusted by customers across the Philippines for affordable, fast, and secure money transfers, bill payments, mobile e-loading, and scan-to-pay services, sought to further enhance its fraud protection by partnering with NetGuardians.

NetGuardians provides AI-driven solutions, available both as SaaS and on-premise, to clients across Europe, Africa, the Middle East, and Asia Pacific for real-time fraud prevention and detection. Its pre-trained AI risk models are designed to identify fraudulent transactions while minimising false alerts quickly. This will allow PalawanPay to safeguard its customers’ funds and reduce fraud investigation costs by up to 75%.

“In less than two years, 15 million people have registered with us and downloaded our app. We greatly appreciate the trust our “sukis” (loyal customers) have placed in our service, and we are committed to prioritising the safety of their funds while ensuring a seamless experience. NetGuardians enables us to prevent fraud without slowing down transactions, supporting our brand promise of providing “mura, mabilis at walang kuskos-balungos na serbisyo” (affordable, fast, and hassle-free service),” said Third Librea, PalawanPay’s Business Executive Officer.

“The rise in fraud, such as scams and account takeovers, is a growing concern for everyone. PalawanPay and other financial institutions are taking these threats seriously. Our solutions can accurately detect suspicious transactions without disrupting customer service,” added Tat Wee Koh, NetGuardians’ APAC Sales Director.

NetGuardians is a Swiss FinTech recognised for helping financial institutions in over 30 countries combat fraud and detect money laundering. More than 100 banks, including three of the five largest in the Asia Pacific region, use NetGuardians’ 3D artificial intelligence (3D AI) solutions for real-time fraud prevention.