Security

Tonik Partners With NetGuardians and Finastra to Mitigate Fraud in Real Time

Tonik, a licensed digital-only bank in Philippines, has selected NetGuardians and Finastra’s AI-based, real time fraud mitigation solution.

Banking software provider Finastra had partnered with Swiss fintech NetGuardians in 2019 to identify fraudulent payments in real-time, stopping them before money leaves the bank or corporate organisation.

This will help improve customers’ experience by reducing false alerts of fraud, as well as giving them a high level of protection from fraudsters across all Tonik’s payment channels.

This is an extension of Tonik‘s partnership with Finastra as the digital bank had selected the latter’s cloud solution to power its end-to-end core banking capabilities.