Brazilian Surf Bank selects Paygilant for secured digital banking

By Pavithra R

Paygilant, the mobile payments fraud prevention and authentication solution provider has announced that Brazilian Surf Bank has selected Paygilant to secure its digital bank.

Through the partnership, Paygilant expects to secure Surf Bank digital payment account from mobile fraud and ensure a frictionless experience for its customers.

“Paygilant was a perfect fit for our needs, as its solution demonstrated superb fraud prevention capabilities. We were very worried about account takeover activities that are prevalent in our region, and Paygilant not only provided us with a solid fraud solution – but also eliminated the countless SMS verifications we were sending to our customers,” said Yon Moreira, CEO of Surf Bank.

Surf Bank is a mobile-based digital bank and a microfinance institution, which enables its customers to pay bills, transfer money, recharge a pre-paid card, purchase cellular packages, offer microloans and more.  The company manages regulatory, technological and financial aspects, eliminating entry barriers and allowing organizations to focus on marketing, sales and distribution.

Surf was looking for a robust mobile fraud prevention solution that did not adversely impact the customer payment experience. The company found Paygilant as a perfect match due to its fraud prevention capabilities.

“Paygilant’s solution is designed for challenger banks, to distinguish between legitimate and fraudulent transactions, throughout the entire user-journey. It enables challenger banks to gain customers’ trust and accelerate growth, while avoiding money loss. We are honored to be working with a forward-thinking organization like Surf Bank,” said Ziv Cohen, Paygilant’s CEO.

“It is great to see Israeli high-tech and Brazilian FinTech uniting forces in constructing a secure payment experience. Israel’s commitment to securing the cashless world has reached Latin America,” said Yossi Shelly, Israel’s ambassador to Brazil.

Recently, Banco Topázio partnered with Chainalysis for compliance & due diligence on cryptocurrency.

Founded in 2014, Paygilant is a mobile-based technology which enables frictionless mobile payment experience, whether executed by NFC, QR Code or online. It functions as a hub for mobile payment providers, seeking for fraud prevention & user authentication in a single SDK integration. The firm makes use of six intelligence sets which includes device DNA, User Space, Activity Map, Bio Markers, App Insights, Transaction View to distinguish between legitimate customers and fraudsters.