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Treasury Prime & Effectiv team to bring fraud detection to enterprises and banks

By Delisha Fernandes

December 05, 2023

  • Banks
  • Effectiv
  • Embedded Banking

Treasury Prime, Effectiv, Fraud Detection, Enterprises, Banks, risk management platform, financial institutions, Transaction Monitoring solution, embedded banking, Fintech news, Fintech USATreasury Prime, an embedded banking software company, has partnered with Effectiv, a fraud and risk management platform for financial institutions and FinTech companies.

This collaboration will empower companies and financial institutions within Treasury Prime’s multi-bank network to leverage Effectiv’s Transaction Monitoring solution, enabling customers to significantly reduce fraudulent transactions and enhance risk management.

“We are dedicated to equipping our customers with the tools they need to thrive in an increasingly complex financial ecosystem,” said Mark Vermeersch, Chief Platform Officer of Treasury Prime. “With the speed at which money moves today, fraud detection needs to be just as fast. We’re thrilled to be partnering with Effectiv and enabling customers to combat fraud more holistically.”

Effectiv’s all-in-one fraud, risk, and compliance platform prevents fraud at every step of the journey, from onboarding new customers and businesses to ongoing and real-time transaction monitoring. The company’s transaction monitoring solution identifies and mitigates at-risk transactions by leveraging AI to analyze patterns to detect anomalous fraudulent behaviors, reducing risk of financial loss and reputational damage.

“Over the past year, we’ve seen a rise in fraud with real-time payments. As banks get ready to adopt FedNow and AI fraudsters increasingly get more sophisticated, it’s critical that fintechs and banks invest in technology that can improve their security posture,” said Ravi Sandepudi, CEO and co-founder of Effectiv. “By partnering with Treasury Prime, we can provide more FinTechs and banks with the tools they need to help manage risk at every step of the transaction.”

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