Platform unlocks new DataVisor partnership and Galileo’s risk assessment fraud engine to help customers proactively mitigate payment risk
SALT LAKE CITY–(BUSINESS WIRE)–Galileo Financial Technologies, LLC, a leading financial technology company owned and operated independently of SoFi Technologies, Inc. (NASDAQ: SOFI), has partnered its Galileo Payment Risk Platform with DataVisor, a leader in fraud and risk management, expands to provide robust fraud management solutions that help clients mitigate risk accurately and quickly.
Payment card fraud transactions are forecast to grow 20% to $38.5 billion by 2027 as fraudsters continue to employ more sophisticated techniques. The Galileo Payment Risk Platform targets every corner of the payments ecosystem by combining Galileo’s industry knowledge in fraud analysis and payments with DataVisor’s advanced AI technology and powerful end-to-end fraud and risk management platform. Advanced platform features support debit and credit card transactions, ACH, and provisioning/onboarding to protect customers from a variety of payment fraud.
“The new Galileo Payment Risk Platform has been designed to anticipate customers’ needs and meet the evolving demands of today’s payment risk environment. It is highly flexible and customizable to fit an organization’s needs, risk appetite and customer preferences,” said David Feuer, Chief Product Officer at Galileo. “Through our evolving Galileo Payment Risk Platform, we continue to invest in protecting our customers with automated anti-fraud technology that offers fast response, smart decisions and tailored solutions through flexible APIs.”
Recent research from DataVisor shows that 75% of organizations believe it is important to develop better fraud detection processes. Galileo’s next-generation fraud and risk platform, launched in partnership with DataVisor, offers seamless, open API integration while delivering a dynamic risk management offering powered by machine learning technology to identify fraud patterns and proactively reduce fraud losses.
“We are proud to integrate our sophisticated AI-powered solution into Galileo’s infrastructure, enabling a multi-layered approach to payment risk and security,” said Yinglian Xie, co-founder and CEO of DataVisor. “As fraud continues to be a major concern for businesses, our partnership demonstrates our shared commitment to business and customer protection.”
Galileo’s anti-fraud approach focuses on combining the power of people, technology and data with direct access to trained fraud analysts capable of providing information on companies’ strategies to combat card fraud. Galileo and DataVisor technologies pinpoint operational and transaction fraud risks and can improve ROI by accessing fraud intelligence derived from more than 100 million unique spend patterns.
For more information about the Galileo Payment Risk Platform, visit www.galileo-ft.com.
About Galileo Financial Technologies
Galileo is a leading financial technology company whose platform, open API technology and proven expertise enable fintechs, emerging and established brands to create differentiated financial solutions that push the financial boundaries. Galileo removes the complexity of payment and financial services innovation by providing flexible, open API building blocks and a secure, scalable, future-proof platform. Trusted by digital banking heavyweights, early-stage innovators, and enterprise customers alike, Galileo powers physical and virtual payment card issuance, mobile push delivery, and more across industries and geographies. Galileo is headquartered in Salt Lake City with offices in Mexico City, New York City, San Francisco and Seattle.
DataVisor is the world’s leading fraud and risk management platform, enabling organizations to respond to rapidly evolving fraud attacks and mitigate risk as soon as it occurs in real time. Its comprehensive solution suite combines patented machine learning technology with native device intelligence and a powerful decision engine to provide full customer lifecycle protection across industries and use cases. DataVisor is recognized as an industry leader and has been adopted by many Fortune 500 companies around the world.
The Fletcher Group