COLOGNE, Germany, July 15, 2020 (Newswire.com) - 4Stop ("FourStop GmbH") a leading global provider for KYB, KYC, compliance and fraud prevention technology announces today the active integration of their anti-fraud transaction monitoring technology with Paytah by Monetum. They bring innovation to the Fintech market to enable cross-border transactions and IBAN accounts conveniently and reliably from anywhere in the world.
The coronavirus is leading more significant technological advancements and online engagement, since January 2018, one million new internet users onboard every day worldwide. As a result of the pandemic, internet users have further increased by 22 per cent from Year-over-Year (YoY) and according to an Adobe report released on June 21, total online spending in May hit $82.5 US billion, up 77 per cent Year-over-Year.
This increase in online users and engagement has many online businesses in a whirlwind to implement additional risk mitigation protocols to manage KYC and anti-fraud in a frictionless and timely manner. However, setting up other data services and transactional security measures with dynamic decision-making intelligence can take many months to integrate. Leaving a vulnerability to cybercriminals as they exploit this new surge of internet usage. Back in 2016, businesses fell victim to fraud every 40 seconds; that timespan will be every 11 seconds by 2021. Online entities need to move quickly and adapt their mantras to facilitate their services best while managing regulatory obligations and fraud defence.
Paytah by Monetum recognised the benefits of working with advanced data and anti-fraud orchestration hub to circumvent their transactional security measure concerns and efficiently manage the rapid increase in engagement. Through a single API into 4Stop, Paytah by Monetum receives leading anti-fraud services that encompass dynamic decision-making technology, customised workflows, cascading transactional rules logic, real-time risk analysis and intelligent transactional monitoring. Allowing Paytah by Monetum to quickly navigate their transactional risk queue, process more positive transactional flow and accelerate their performance. They obtain a heightened level of confidence in every transaction while building enhanced trust in their brand with their customers.
Through Paytah by Monetum's integration, they also instantly obtained access to 4Stop's complete suite of services to support their entire customer journey. From hundreds of premium global KYB and KYC data services readily available on-demand with real-time activation, through advanced compliance and AML workflows, and data science. Paytah by Monetum obtains a competitive edge towards cybersecurity and data management in a fail-safe, future-proofed and modern manner.
"At Paytah by Monetum, we comply with the highest industry standards and regulations while providing quality service and value to all of our clients and stakeholders. We are excited to partner with 4Stop to continue strengthening our KYC/AML processes and systems. We are confident that our journey to better banking, better payments and better IBAN is more dynamic and robust with 4Stop," states Marco Lavanna, Founder, Paytah by Monetum Payment Solutions.
Source: FourStop GmbH