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A New Reason For Fraudsters To Be Fearful.
The statistics on Credit Card fraud are frightening. The Nilson Report estimated that $24.71 billion was lost to fraud in 2016 alone. And online fraud is the most common globally. With data hacks and identity theft on the increase, are financial services doing enough to protect consumers from losing money?
Srikar Govindarajula, founder and CEO of Credito doesn’t think so: “Centralised financial institutions are powerless to prevent fraud. The model is too fragmented and slow to respond to global threats. At Credito, we will offer real-time data, so when suspicious patterns emerge; this data can be made available to the whole world immediately”.
Credito will deliver CreDApp, its peer to peer crypto collateralized lending platform early next year, and Mr Govindarajula knows how vulnerable Crypto wallets can be to cybercrime and fraud. “Every other day I read about investors losing their coins to fraudulent activities, or after their unprotected wallets have been hacked. We risk losing investment in Blockchain Fintechs if investors cannot be sure that their money is in safe hands. This is why I am delighted to announce that Credito has teamed with BioSSL Solutions.”
BioSSL is an award-winning innovative company that secures online financial transactions, confidential document transactions, and other high-risk web-based environments. It won the Sesames Award 2016 for best Cybersecurity solution, as well as the Silver Fintech Award 2016 for Best Biometric Solution. BioSSL’s CEO, Johann Caubergh believes that together, Credito and BioSSL can work towards a lasting solution to the problem of credit fraud. “This is an opportunity to make a real difference in terms of cyber security on the Blockchain, and a major step forward for the safety of Peer to Peer lending. I am excited that Credito has joined our roster of partnerships and am confident that our relationship will be a successful one.“
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Cake Wallet Integrates xStocks, Letting Users Invest in Stocks Using Crypto.
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Routefusion Secures $26.5 Million Series A to Expand its Global Payments Network
Routefusion, a financial infrastructure provider enabling platforms and financial institutions to embed seamless cross-border payments and multi-currency account capabilities, today announced the close of a $26.5 million Series A funding round. The round was led by PeakSpan Capital, with participation from Silverton Partners, bringing the company’s total funding to $40.7 million.
BCP Launches Criptococos, the First Crypto Banking Platform in Peru, Powered by BitGo
Banco de Crédito del Perú (“BCP”), the largest bank and the largest supplier of integrated financial services in Peru, and BitGo, the digital asset infrastructure company, today announced the launch of Criptococos, the first banking platform in Peru, to enable the secure purchase and management of crypto assets. The launch is part of a pilot project authorized by the Superintendency of Banking, Insurance, and Pension Fund Administrators (SBS) and reflects BCP’s ongoing commitment to driving innovation in the financial system.
EXCLUSIVE: “Passion Project” – Brice van de Walle, Mastercard in ‘The Fintech Magazine’
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FreedomPay Drives Global Merchant Innovation
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
FIS Brings AI-Powered Advancements to Seamless, Personalized Digital Banking Experiences
FIS® announced a strategic partnership with Glia to deliver advanced AI-powered customer engagement capabilities across FIS' Digital One suite
Citi Ventures Invests in BVNK to Power the Next Generation of Financial Infrastructure
Citi Ventures has announced a strategic investment in BVNK, highlighting the shift toward digital asset-based infrastructure.
Nearly Two-Thirds of Global Retailers Say Payment Method Flexibility Drives Revenue Growth, ACI Worldwide Survey Finds
Global retailers are accelerating their multi-acquirer strategies to stay ahead, according to a new survey conducted by ACI Worldwide
Ipswich Town Selects IFX Payments as an Elite Partner
Ipswich Town Football Club has selected IFX Payments as an Elite Partner of the club
Baghdadi Capital Group Selects nCino to Power Global Growth and Expansion Strategy
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