Galileo Expands Payment Risk Platform with DataVisor
September 20 2022 - 10:00AM
Business Wire
Platform taps new DataVisor partnership and
Galileo’s risk-scoring fraud engine to help clients proactively
mitigate payments risk
Galileo Financial Technologies, LLC, a leading financial
technology company owned and operated independently by SoFi
Technologies, Inc. (NASDAQ: SOFI), has expanded its Galileo Payment
Risk Platform jointly with DataVisor, a market leader in fraud and
risk management, to offer robust fraud management solutions that
help clients mitigate risk with precision and speed.
Payment card fraud transactions are forecasted to rise 20% to
$38.5 billion by 2027, as fraudsters continue to employ more
sophisticated techniques. The Galileo Payment Risk Platform targets
every corner of the payments ecosystem by combining Galileo’s
industry knowledge in fraud analytics and payments with DataVisor’s
advanced AI technology and powerful end-to-end fraud and risk
management platform capability. Expanded platform capabilities
support debit and credit card transactions, ACH, as well as
provisioning/onboarding to protect clients against a variety of
payments fraud.
“The new Galileo Payment Risk Platform was built to anticipate
clients’ needs and meet the evolving demands of today’s payment
risk environment. It’s highly flexible and customizable to align
with businesses’ needs, risk tolerance and customer preferences,”
said David Feuer, Chief Product Officer at Galileo. “Through our
evolving Galileo Payment Risk Platform, we continue to invest in
protecting our clients with automated fraud mitigation technology
that delivers rapid responses, intelligent decisioning and tailored
solutions through flexible APIs.”
Recent research by DataVisor shows that 75% of businesses
believe developing better fraud detection processes is important.
Launched in partnership with DataVisor, Galileo’s next gen fraud
and risk platform provides a seamless, open-API integration while
providing a dynamic risk management offering powered by machine
learning technology to identify fraud patterns and proactively
reduce fraud losses.
“We are proud to integrate our sophisticated AI-powered solution
into Galileo’s infrastructure and enable a layered approach to
payments risks and security,” said Yinglian Xie, Co-founder and CEO
of DataVisor. “As fraud remains a big concern for businesses, our
partnership showcases our common commitment for business and
customer protection.”
Galileo’s approach to fraud mitigation focuses on combining the
power of people, technology and data with direct access to trained
fraud analysts equipped to inform businesses’ card fraud mitigation
strategies. Galileo and DataVisor’s technologies pinpoint
operational and transactional fraud risks and can improve ROI
through access to fraud intelligence derived from more than 100M
unique spend patterns.
For more information about the Galileo Payment Risk Platform,
visit www.galileo-ft.com.
About Galileo Financial Technologies Galileo is a leading
financial technology company whose platform, open API technology
and proven expertise enable fintechs, emerging and established
brands to create differentiated financial solutions that expand the
financial frontier. Galileo removes the complexity from payments
and financial services innovation by providing flexible, open API
building blocks and a secure, scalable, future-proof platform.
Trusted by digital banking heavyweights, early-stage innovators and
enterprise clients alike, Galileo supports issuing physical and
virtual payment cards, mobile push provisioning and more, across
industries and geographies. Headquartered in Salt Lake City,
Galileo has offices in Mexico City, New York City, San Francisco
and Seattle.
About DataVisor DataVisor is the world’s leading fraud
and risk management platform that enables organizations to respond
to fast-evolving fraud attacks and mitigate risks as they happen in
real time. Its comprehensive solution suite combines patented
machine learning technology with native device intelligence and a
powerful decision engine to provide protection for the entire
customer lifecycle across industries and use cases. DataVisor is
recognized as an industry leader and has been adopted by many
Fortune 500 companies across the globe.
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