A new AI-based payments solution enables online casinos to better protect their assets

When it comes to protecting money, there’s no such thing as too much security. Any initiative that can efficiently and accurately secure financial accounts and prevent fraud is welcome and online casinos are always looking for ways to better protect their assets. A new payments tool based on artificial intelligence (AI) is being rolled out that will provide a great amount of protection for online casinos.

The Payment Fraud Prevention app offered by NetGuardians is now being added to Finastra’s FusionFabric.cloud project. It uses AI to proactively identify payment fraud in real-time, helping casinos reduce fraud losses. According to the company, the software is able to reduce the number of false positives by as much as 83%, which greatly cuts down on the amount of time spent investigating potentially suspicious transactions.

Finastra GM of Payments Sagive Greenspan explains, “The integration of NetGuardians’ Payment Fraud Prevention app with Finastra’s payments and cash management solutions through FusionFabric.cloud means that our clients can access a highly effective fraud prevention solution and be live in a matter of weeks, compared with alternatives. The NetGuardians approach means that banks benefit from operational savings and reduced losses from fraud, and so too do their customers – from individual retail customers through to multi-national corporations.”

When potential fraud is identified, the transaction can be temporarily suspended as it occurs, with an alert delivered immediately to security personnel. Those individuals will then be able to investigate further and take the necessary actions to protect their platforms.