back Back

Pismo and Drona Pay to boost security in digital payments

By Leandra Monteiro

February 08, 2023

  • Digital Lending
  • Digital Payments
  • Drona Pay
Share

Pismo, Drona Pay Pismo, an all-in-one, cloud-native financial services platform, has worked with Drona Pay, a cloud-native risk-scoring platform for next-gen lending and payments, to integrate both their solutions. Both collaborate to increase real-time protection against fraud, scams and laundering in payments and lending.

As digital payments become more popular, projected to grow 12%, reaching $14.8 trillion by 2027, payment frauds are also expected to rise. India follows the international trend. UPI transactions increased by 91% last year. Meanwhile, complaints on the NCRP rose by 34% between Q1 and Q2, 2022.

“With fraudsters becoming more sophisticated, ML and proprietary data sets from Drona Pay are a perfect fit for Pismo’s next-gen platform. When integrated, banks and FinTechs can speed up their go-to-market strategies, knowing that their digital transactions are highly secured,” said Vishal Dalal, CEO (North America, EMEA, and APAC) at Pismo.

Drona Pay delivers real-time protection using ML and alternate data sets to defend institutions against ever-increasing fraud in payments and lending. The platform protects BNPL, Realtime payments (UPI, App, Wallet etc.), credit and debit card transactions from frauds, scams, laundering and delinquency. The company has received investments from Varanium Capital, Credit Saison and fintech veterans Kunal Shah, Jitendra Gupta, and Amrish Rau.

“New age risk scoring platforms need to be cloud-native, leverage alternate data and adopt ML to help banks and fintechs solve emerging challenges. Reducing delinquency in new-to-credit (NtC)/thin files, managing risk in new merchant categories, preventing laundering and minimising phishing attacks in real-time payments, are the new-age challenges that Drona Pay is tuned to handle. Our strategic partnership will help customers leverage Pismo’s breadth and global presence with Drona Pay’s niche skills in risk scoring,” added Satish Kashyap, CEO & Co-Founder at Drona Pay.

Previous Article

February 08, 2023

Orange Egypt and Fawry partner to enhance digital payment services

Read More
Next Article

February 08, 2023

5 FinTech companies revolutionising the banking industry in Belgium

Read More








IBSi Daily News Analysis

Web3, Indian market

April 16, 2024

Digital Lending

Explosive growth in Web3: UAE and MENA region poised to lead crypto, DeFi, and Metaverse revolution

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Finastra adds AI ESG scoring into working capital solution with TradeSun

Read More

Today

FinbotsAI set to boost credit risk management for Myanmar’s KBZ Bank

Read More

Today

India’s Veefin expands Supply Chain Finance & Digital Lending in Africa with Computech Limited

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023