bpost Bank Selects RiskShield for fraud detection
Belgian bpost Bank announced today that it has chosen the RiskShield solution of German firm INFORM to strengthen its risk management strategy for multi-channel banking fraud prevention and sanction controls. INFORM had already announced that it was live with the same product at payments provider SIX in September. The solution is also used by other banks such as Belfius and Rabobank.
Fraud detection and prevention in the financial industry is a rapidly growing business, in which big incumbents (such as IBM or Oracle), medium sized niche players (such as INFORM or Guardian Analytics) and FinTech start-ups (for instance NetGuardians) offer competing products and services on the basis of cognitive computing and predictive analytics. This is a rapidly evolving space where financial firms need to carefully consider the solution that is best tailored to their needs and most “future proof”.