Advanced Credit Technologies has fully integrated its CyberIoQ solution into payments processing provider QRails Global to help build ‘innovative new customer experiences.’
The companies have come together to help prevent fraud and to do this it is offering better user experiences for the card network and cardholders.
CyberloQ is a multi-factor authentication application for smartphones, tablets and laptops and is used across the FinTech, blockchain, healthcare and government industries. Its solution safeguards sensitive information like databases, bank accounts and credit cards.
For cardholders protected by CyberloQ, access is always restricted which means to use it online or at a POS system, the user’s PIN, unique mobile device ID and geographic location is needed. This removes the ability for fraudsters to use the card for their own purposes.
Through Google’s geolocation, CyberloQ can establish virtual boundaries around a user and their information. Setting up parameters for certain cities or buildings where their information can be accessed.
The CyberloQ software can be installed on client’s servers or be run externally through its own server.
QRails CEO Naseer Nasim said, “We recognize that our Global clients need to differentiate their programs with powerful functionality that is both seamless and secure, which is why integrating CyberloQ’s industry-leading multi-factor technology into our highly configurable platform is such a game-changer.
“We have found a partner that maximizes both the possibilities this technology enables, as well as a smooth, secure and flexible user experience.”
QRails is a cloud-based payments processor which offers banks and issuers an alternative to legacy solutions. The company recently closed a round of funding on $7m, with Hastings Insurance chairman Gray Hoffman among the angels to lead the investment.
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