Pelican, a provider of payments and compliance solutions, has launched a new fraud prevention solution, powered by artificial intelligence (AI), to combat fraud threats and the vulnerabilities facing SWIFT and wire payments.

The platform, dubbed PelicanSecure Fraud Prevention, can intelligently monitor, analyse, detect and prevents attempted fraud breaches, the company said.

The solution, which is aimed at addressing key vulnerabilities in the payment life-cycle, has the ability to learn complex patterns of behaviour and to identify and flag subtle anomalies that are indicative of fraud.

Additionally, the solution can also improve operational efficiency, reduce costs through the reduction of ‘false positive’ rates, and mitigate reputational risk, the company claims.

The solution is available as a stand-alone service, or as a modular part of the overall PelicanSecure suite that includes integrated and advanced fraud, AML and sanctions screening services.

Pelican founder and CEO Parth Desai said: “Our twenty-years of experience in the payments, SWIFT and correspondent banking world, together with our extensive AI pedigree, places Pelican in a unique position to understand these challenges and to pioneer the practical application of artificial intelligence into compliance and the payments life-cycle.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“The PelicanSecure Fraud Prevention solution is perhaps the most powerful demonstration of how intelligent technology can keep banks and businesses one-step ahead of the growing global threat of payments fraud.”