LATRO unveils Assure Fintech for mobile money assurance

By Divya Shah

LATRO has introduced Assure Fintech, a new solution designed to help mobile money providers and mobile network operators address growing compliance, fraud and reconciliation challenges across digital financial services ecosystems. 

The growth of mobile money services has also accelerated the evolution of mobile network operators (MNOs), many of which now operate or support digital financial services, including mobile money, digital wallets and payment platforms. 

As a result, both mobile money providers (MMPs) and MNOs are facing increasing risks related to transaction monitoring, fraud, reconciliation and regulatory compliance. Industry research from TM Forum and other telecom revenue assurance bodies estimates that revenue leakage and control weaknesses can cost operators between 0.5% and 10% of annual revenue. 

Assure Fintech is designed as a financial assurance layer for mobile money and digital financial services. The platform reconciles data between mobile money platforms and their financial partners, validates transactions, fees and commission payments, and identifies discrepancies for investigation down to the individual transaction level. 

The solution also provides monitoring capabilities for risks such as agent fraud, account takeover, SIM-swap fraud, suspicious transaction activity and KYC failures. The platform integrates with existing infrastructure and combines standardised controls with configurable rules that can be tailored to individual service offerings and risk profiles. 

For providers in the UAE, the platform’s controls can support the monitoring of international remittances and lending transactions, the investigation of payments placed on hold, and actions relating to customer accounts following the expiry of Emirates ID documentation. 

Donald Reinhart, Chief Executive Officer at LATRO, said, “As transaction volumes grow, regulatory requirements are demanding controls and, in some cases, segregated IT infrastructure that go beyond legacy telecom systems. AML and other risk controls can no longer simply be layered onto traditional RAFM platforms. Assure Fintech provides a modern, cloud-native platform built specifically to help mobile money providers manage greater scale, complexity and speed efficiently.” 

The launch reflects the growing convergence of telecommunications and financial services, as mobile network operators expand beyond connectivity services and deepen their role in digital payments and financial inclusion.