Brazilian Surf Bank has selected Paygilant as its technology partner to secure its digital payment account from mobile fraud and deliver frictionless experience to customers.
Paygilant is an Israel-based mobile payments fraud-prevention and authentication solution provider.
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The company will provide its mobile fraud prevention solution to Surf Bank. It will allow Surf Bank to leverage its solution to secure its digital bank.
Paygilant CEO Ziv Cohen said: “Paygilant’s solution is designed for challenger banks, to distinguish between legitimate and fraudulent transactions, throughout the entire user-journey.
“It enables challenger banks to gain customers’ trust and accelerate growth, while avoiding money loss.”
The mobile-based digital bank Surf Bank allows its customers to pay bills, transfer money, recharge a pre-paid card, and purchase cellular packages, offer micro loans and more.
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By GlobalDataIts digital payment account streamlines all the financial activities of its clients on a mobile app.
Surf Bank’s latest partnership with Paygilant is part of its efforts to look for a robust mobile fraud prevention solution, without compromising payment experiences for customers.
Surf Bank CEO Yon Moreira said: “Paygilant was a perfect fit for our needs, as its solution demonstrated superb fraud prevention capabilities.
“We were very worried about account takeover activities that are prevalent in our region, and Paygilant not only provided us with a solid fraud solution – but also eliminated the countless SMS verifications we were sending to our customers.”
