Having already cut out a piece for itself as a client onboarding and fraud prevention company, 4Stop has now launched a new transaction monitoring solution.
The new payment hub encompasses modular architecture with innovative features for optimal payment data ingestion, meaning it can minimise the risk of fraud further.
Given the increasing complexity surrounding modern transaction, that is no mean feat. “A business can have up to 2,000 data parameters for a single transaction,” said Ingo Ernst, CEO of 4Stop. “If you multiply that by millions of transactions per day or sometimes even per hour, it’s tough for global companies trying to achieve instant payments under PSD2 to stay on top of compliance requirements and fraud prevention.”
This is what the new 4Stop payment hub is designed to help out with by making it easier for companies to manage and monitor transactions, ensuring that they can live up to their know your customer (KYC) and risk obligations.
That will build on 4Stop existing KYC and know your business expertise.
“Our anti-fraud engine is completely customisable to fraud prevention and compliance workflow needs,” explained Brian Daly, head of product implementation and innovation at 4Stop. “Businesses can write a set of complex rules that monitor the behaviour and transactional patterns or parameters such as phone number, email, IP address, or cards across multiple platforms.”
The news comes on the back of 4Stop closed a Series A round of funding earlier this year.
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