The Philippines’ first neobank, Tonik, chooses NetGuardians and Finastra as fraud mitigation partner
Singapore – April 26, 2022 – We are delighted to announce that Tonik, the first neobank to be granted a digital banking license in the Philippines, has selected NetGuardians and Finastra’s AI based fraud mitigation solution to help reduce fraud by preventing fraudulent payments in real time.
The solution will be able to accurately spot fraud with ready-to-go AI risk models. This will help improve customers’ experience by reducing false alerts of fraud, as well as giving them a high level of protection from fraudsters across all Tonik’s payment channels.
We’re grateful for the trust and confidence Tonik has placed in us and look forward to helping them fight against fraud in the Philippines.
For further information please contact:
Benjamin Jun Tai
Senior PR Lead
T: +65 9058 1160
E: benjamin.juntai@finastra.com
About NetGuardians
NetGuardians is an award-winning Swiss FinTech helping financial institutions in over 30 countries to fight fraud. More than 80 banks, including three of the five biggest banks in the Asia Pacific region, rely on NetGuardians’ 3D artificial intelligence (3D AI) solution to prevent fraudulent payments in real time. Banks using NetGuardians’ software have achieved an 85 percent reduction in customer friction, enjoy more than 75 percent lower operating costs and have detected new fraud cases. NetGuardians is the fraud-prevention partner of major banking software companies including Finastra. NetGuardians was listed as a representative vendor in Gartner’s 2020 Market Guide for Online Fraud Detection and Global Leader in the Aite-Novarica’s 2021 Fraud and AML Machine Learning Platforms Report. Headquartered in Switzerland, NetGuardians has offices in Singapore, Kenya, and Poland.
More information: www.netguardians.ch
About Finastra
Finastra is building an open platform that accelerates collaboration and innovation in financial services, creating better experiences for people, businesses and communities. Supported by the broadest and deepest portfolio of financial services software, Finastra delivers this vitally important technology to financial institutions of all sizes across the globe, including 90 of the world’s top 100 banks. Our open architecture approach brings together a number of partners and innovators. Together we are leading the way in which applications are written, deployed and consumed in financial services to evolve with the changing needs of customers. Learn more at finastra.com.