The fight against fraud involves strategies and technologies aimed at preventing, detecting, and mitigating fraudulent activities occurring during processes, particularly in financial, business, or institutional settings.

Fraud has multifaceted repercussions on businesses, extending beyond financial losses to encompass operational disruption, regulatory challenges, reputational damage, and long-term implications affecting customer relationships and market standing. In view of these challenges, it is expedient to implement proactive fraud prevention measures in safeguarding businesses against these adverse effects.

Interswitch, a leading technology-driven company in Africa specializing in digital payments and commerce, has in its suite of products a robust fraud prevention and detection solution to safeguard financial transactions and protect users from fraudulent activities called Interswitch Security as a Service (ISaaS).

Interswitch Security as a Service (ISaaS) is an enterprise fraud and financial crime solution which monitors real-time customer data, using machine learning inventions, adaptive behavioural analytics, and automated deep behavioural networks. The ISaaS solution leverages technology, data analysis, and proactive strategies to detect, prevent, and mitigate various forms of fraud.

It empowers fraud and anti-money laundering analysts to spot suspicious activity and prioritize alerts with explainable anomaly detection.

ISaaS fraud solutions marks a significant advancement in combating the ever-evolving landscape of fraudulent activities across industries. The emergence of ISaaS solutions has brought forth several notable benefits: