For Immediate Release

Yverdon-les-Bains, 21 March 2019 – NetGuardians, the award-winning Swiss FinTech, announced today that its AI fraud-prevention solution NG|Screener is now available on Microsoft Azure.

Organizations can now choose to deploy NG|Screener in the cloud to prevent fraud related to payments, digital banking and internal fraud.  Designed to help banks and corporates to spot and stop fraud before any money has been stolen, NG|Screener uses smarter artificial intelligence to prevent existing and new fraud scenarios.

Ready to run AI risk models help organizations tackle fraud resulting from invoice scams, CEO fraud, employee collusion, fraudulent eBanking transactions due to hacking and more. Whenever there is a fraudulent transaction, NG|Screener’s transaction scoring API, available on Microsoft Azure, enables transaction blocking within the core banking – pre-defined interface with already available major core banking providers – or within the transaction processing system of the organization.

Marianne Janik, general manager of Microsoft Switzerland states: “We are pleased to have NetGuardians as a leading anti-fraud solution provider on Azure.  Employing NG|Screener will allow organizations to protect themselves against growing fraud threats.”

Joël Winteregg, co-founder and CEO of NetGuardians, says: “By teaming up with Microsoft Azure and hosting NG|Screener in the cloud, we can offer smarter fraud mitigation to more organizations worldwide. Our AI solution is suitable for banks and other organizations and monitors every transaction in real time but throws up far fewer false alerts and spots more fraud than rival solutions.”

Banks and other organizations worldwide face a growing challenge from fraudsters who are adopting increasingly sophisticated methods. Fraud and other forms of cyber-crime are expected to cost US$6 trillion a year by 2021^[1]. At the same time, banks in particular must demonstrate to regulators that they are doing all they can to protect customers’ accounts or face big fines. NG|Screener helps them meet both PSD2 and SWIFT CSP requirements.

Results show that banks running NetGuardians experience dramatically fewer false alerts, cutting the number of false positives by 83 percent. This provides a better customer experience and lower operational costs. Fraud investigation time is cut by 93 percent.

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[1] Cyber Security Ventures, Cyber Crime Report 2016