US FinTech company Bottomline Technologies has expanded its Secure Payments solution to monitor additional payment types.
The company, which helps make business payments simple, smart and secure, said the solution can now proactively monitor FileAct, SEPA, SIC4, and ISO20022 payments. It also helps customers detect and investigate potential fraud in their payments ecosystem.
“We know that user and transaction monitoring across multiple channels, applications, and payment types is critical to provide enhanced fraud detection for banks and corporates,” said James Richardson, head of market development risk and fraud, Bottomline Technologies. “Businesses and banks that rely only on ‘in-network’ capabilities to detect fraud are taking a risk.”
Bottomline’s Secure Payments solution protects payments across a variety of applications, channels, and payment types including: ACH, Wire, Faster Payments, Bacs, FileAct, SEPA, SIC4, SWIFT, ISO 20022, Bill Pay and Check.
Leveraging advanced analytics of user behavior and transaction flows layered with intelligent machine learning. Secure Payments detects fraudulent transactions in real-time, holds payments prior to them entering the network, and secures online and mobile sessions and account activity; all while meeting evolving regulatory compliance.
Richardson added: “Part of the complexity with business payments is that they don’t come in a single flavour. The sophistication of payment related fraud schemes are evolving rapidly. Organisations need adaptable fraud detection to protect different types of payments and across multiple networks.”
Headquartered in Portsmouth, NH, Bottomline delights customers through offices across the U.S., Europe, and Asia-Pacific. Corporations and banks rely on Bottomline for domestic and international payments, efficient cash management, automated workflows for payment processing and bill review, and state of the art fraud detection, behavioral analytics and regulatory compliance solutions.
As part of the cyber fraud and risk management suite, Bottomline’s compliance solution provides corporations and financial institutions with a end-to-end offering to accelerate the speed to achieve regulatory compliance requirements while decreasing complexity. Whether the need is around modernising an anti-money laundering programme, achieving more reliable sanctions screening, or automating suspicious activity reporting to meet regulatory requirements, Bottomline’s Compliance solution offers a modular approach to reducing the cost of compliance and increasing productivity.
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