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Digital Identity, Security & Online Fraud

Nets, Savings Banks team up to boost card payment security

Thursday 20 December 2018 | 10:25 AM CET

Nets, a Nordic payment service provider, and the Finnish Savings Banks Group have expanded their cooperation.

As part of the deal, Savings Banks Group has deployed a new, advanced and real time fraud prevention service for card payment security, provided by Nets. The system, based on the use of both artificial intelligence and the most experienced experts in the industry, monitors card transactions continually and is able to detect suspicious activities.

Nets’ position as a big payment service provider in the Nordics and in Europe delivers a great amount of data for use with artificial intelligence, according to the official press release. Nets handles billions of card transactions in the Nordics yearly. Data this large enables AI and machine learning to function as efficiently as possible and offers best possible protection for the end client's card data.

Savings Banks will be using Nets' Consumer Protection service, which prevents falling into subscription traps, and Nets' Smart Block.

More: Link
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