Seon and TBI bank combine forces to fight fraud, enhance user experience

By Gloria Methri

In a move to optimize user experiences and filter out fraud attempts, TBI bank has partnered with SEON to leverage its Machine Learning-based fraud detection platform.

As part of the agreement, tbi bank will incorporate SEON’s online fraud prevention system into its customer onboarding journey. The move has been designed to enable safer financing experiences for the bank’s customers and to enhance user experiences across its network of business and retail customers.

Alongside optimizing user experiences, the tools provided by SEON will help tbi bank to filter out fraud attempts in real time. The company’s system harnesses Machine Learning to assess and act on the risk of online fraud. It also leverages AI systems to cater to the demands of modern banking customers.

Speaking on the partnership, Jimmy Fong, Chief Commercial Officer at SEON said, “SEON is the perfect tool for challenger banks like tbi bank, providing these organizations with a powerful tool in the fight against fraud. Our automated system offers clear results to clients at the point of sign-up in a transparent and reliable manner, thus helping to verify potential new users with zero friction.”

Costin Mincovici, Chief Credit Officer at TBI bank added, “Our team has the goal of serving customers’ real needs, so we added a fraud solution to quickly filter out high-risk users, without increasing friction for our valuable customers. The additional data provided by SEON adds valuable information to our database, allowing us to improve and update our risk models with Machine Learning methodologies.”

The new partnership marks the beginning of a bigger collaboration between SEON and tbi bank, which will see the fraud prevention expert join the bank’s larger ecosystem of customer and business protection tools. Prior to partnering with tbi bank, SEON has already worked with sector leaders, including Revolut, FairMoney, Carbon, and Nubank.