• About
    • Company
    • Team
  • Technology
  • Join us
  • Blog
  • Support
NetGuardians
  • Industries
    • Private banking and wealth
      management
      • Discover why so many of the world’s leading private banks and wealth managers select NetGuardians
    • Retail banking
      • Efficiently reduce fraud from day one without stopping genuine customer transactions
    • Digital and challenger
      banks
      • Better, faster fraud prevention that scales efficiently with your business
  • Solutions
    • Payment fraud
      • Stop fraudulent transactions due to social engineering, invoice scams, CEO fraud and more.
    • Internal fraud
      • Prevent internal banking fraud due to collusion, control bypass and more.
    • AML Transaction Monitoring
      • Monitor all transactions and meet regulatory AML requirements while reducing false alerts and operational costs.
    • Community Scoring & Intelligence
      • Leverage NetGuardians Community Scoring and Intelligence service for actionable insights to expand your risk signals.
  • Fraud cases
  • Resources
    • White papers
    • Solution briefs
    • Case studies
    • Industry brochures
    • Videos
    • One pager and infographics
    • Analyst reports
    • Press
    • Webinars
  • Ecosystem
    • Community Scoring & Intelligence
    • Partners
    • NG Club
    • NG Academy
  • News
  • Contact
  • Search
  • Menu Menu
  • Twitter
  • LinkedIn
  • Facebook
  • Youtube

Zurich Cantonal Bank chooses NetGuardians’ AI software for payment fraud mitigation

This article appeared on Finextra on 16 August 2022

Award-winning Swiss FinTech NetGuardians, renowned for its enterprise risk platform for combatting bank fraud, today announced that Zurich Cantonal Bank (ZKB) has selected its software as part of a program of enhanced fraud prevention.

ZKB selected NetGuardians’ fraud-prevention software to further protect its customers from the growing payment fraud threat. In addition to payment fraud being more prevalent, attacks are also becoming more sophisticated, making them harder to spot. The Swiss Federal Statistical Office recently revealed that cybercrime jumped by nearly a quarter in 2021, compared with the previous year.

NetGuardians software uses advanced behavioral analytics, artificial intelligence and machine learning to build up highly accurate customer profiles. All transactions linked to an account are continuously monitored across all channels, compared against the customer profile and given a risk score. The bank only contacts the customer when the risk score reaches a pre-determined level.

The result is a massive reduction in the number of false positives, thereby maintaining an excellent customer and user experience while cutting the bank’s operational costs. Further protection comes from machine-learning algorithms that can discover new fraud schemes, helping banks stay on top of emerging threats.

Today, more than 40 percent of all Swiss state-owned commercial banks have chosen NetGuardians as their fraud-prevention partner. Worldwide, NetGuardians is helping banks protect more than $7 trillion in assets from cyber-criminals. It was listed as a Global Leader in the 2021 Aite-Novarica report on Fraud and AML Machine Learning Platforms.

Romano Ramanti, Ethical Hacker of ZKB says: “With NetGuardians as our fraud-prevention partner we know we are giving our customers the best possible protection and a great service. More attempts at defrauding them will be spotted and stopped, and our customers won’t be contacted unnecessarily over authentic payments.”

Joël Winteregg, NetGuardians’ Co-Founder and CEO, says: “There is no reason why banks have to choose between stopping fraud and providing excellent customer service. NetGuardians software offers enhanced fraud protection without having to bother the customer all the time for authentication. And when the customer is contacted, the chance of the transaction being fraudulent is high. Taken together, our software will allow ZKB to build trust and prevent more fraud.”

Read this article on Finextra website.

Read the article
Share this entry
  • Share on Facebook
  • Share on Twitter
  • Share on WhatsApp
  • Share on LinkedIn

Categories

  • Events (59)
  • News (60)
  • Others (11)
  • Press (61)
  • Press releases (65)
  • Recognition (22)
  • Upcoming events (1)
  • Webinars (22)

Recent news

  • Fraud in Financial Services Summit MENA, Dubai, 26 January 2023 January 12, 2023
  • Fintech Futures: Swiss payment app Twint taps NetGuardians for fraud prevention boost January 11, 2023
  • Fintech Global: PayTech TWINT bolsters fraud protection with NetGuardians January 11, 2023

Contact us

Switzerland

+41 24 425 97 60

info@netguardians.ch

Singapore

+65 6224 0987

Kenya

+254 796 616 263

News

  • Fraud in Financial Services Summit MENA, Dubai, 26 January 2023January 12, 2023 - 9:15 am
  • Fintech Futures: Swiss payment app Twint taps NetGuardians for fraud prevention boostJanuary 11, 2023 - 2:45 pm
  • Fintech Global: PayTech TWINT bolsters fraud protection with NetGuardiansJanuary 11, 2023 - 2:42 pm

Follow us on Twitter

Tweets by @netguardians
© 2022 NetGuardians, Inc. All Rights Reserved.
  • Twitter
  • LinkedIn
  • Facebook
  • Youtube
  • Privacy policy
  • Contact
Press release – Zurich Cantonal Bank chooses NetGuardians’ AI software...Startupticker.ch – Kantonalbanken setzen auf NetGuardians
Scroll to top

To give you the best possible experience on the NetGuardians website we use cookies to collect personal information to better understand your preferences and improve the performance of our site. The Cookie consent button will remain visible until accepted; however by continuing to use this site, we will assume consent for cookies to be used in accordance with our Privacy policy.

CONTINUELearn more

Cookie and Privacy Settings



How we use cookies

We may request cookies to be set on your device. We use cookies to let us know when you visit our websites, how you interact with us, to enrich your user experience, and to customize your relationship with our website.

Click on the different category headings to find out more. You can also change some of your preferences. Note that blocking some types of cookies may impact your experience on our websites and the services we are able to offer.

Essential Website Cookies

These cookies are strictly necessary to provide you with services available through our website and to use some of its features.

Because these cookies are strictly necessary to deliver the website, refusing them will have impact how our site functions. You always can block or delete cookies by changing your browser settings and force blocking all cookies on this website. But this will always prompt you to accept/refuse cookies when revisiting our site.

We fully respect if you want to refuse cookies but to avoid asking you again and again kindly allow us to store a cookie for that. You are free to opt out any time or opt in for other cookies to get a better experience. If you refuse cookies we will remove all set cookies in our domain.

We provide you with a list of stored cookies on your computer in our domain so you can check what we stored. Due to security reasons we are not able to show or modify cookies from other domains. You can check these in your browser security settings.

Google Analytics Cookies

These cookies collect information that is used either in aggregate form to help us understand how our website is being used or how effective our marketing campaigns are, or to help us customize our website and application for you in order to enhance your experience.

If you do not want that we track your visit to our site you can disable tracking in your browser here:

Other external services

We also use different external services like Google Webfonts, Google Maps, and external Video providers. Since these providers may collect personal data like your IP address we allow you to block them here. Please be aware that this might heavily reduce the functionality and appearance of our site. Changes will take effect once you reload the page.

Google Webfont Settings:

Google Map Settings:

Google reCaptcha Settings:

Vimeo and Youtube video embeds:

Other cookies

The following cookies are also needed - You can choose if you want to allow them:

Privacy Policy

You can read about our cookies and privacy settings in detail on our Privacy Policy Page.

Privacy policy
Accept settingsHide notification only