For Immediate Release
AdNovum: Partnership with NetGuardians
Zurich, May 16, 2018 – AdNovum partners with Swiss fraud prevention specialist NetGuardians and will integrate their machine learning based risk platform into its solutions. Through this partnership, AdNovum strengthens its offering to fight cyber crime in the financial services industry.
The Swiss software company AdNovum has established a partnership with NetGuardians, a FinTech company recognized for anti-fraud solutions. AdNovum thus strengthens its offering to fight cyber crime in the financial services industry. The core of NetGuardians' solutions is a machine learning based risk platform for financial institutions which detects fraudulent transactions in real time and prevents them. By means of big data and predictive analytics, NetGuardians' enterprise risk platform connects and standardizes data from across the entire banking system. By using advanced analytics, dynamic profiling and machine learning, the system detects unusual behavior patterns and financial transactions and triggers alerts or blocks transactions in real time. The sophisticated analyses allow NetGuardians' platform to identify potential fraud already while it is being prepared. With the enterprise risk platform, it is possible to automatically monitor a financial institution 24/7 for various types of fraud, such as fraudulent transactions via SWIFT, mobile and e-banking, internal fraud, payment fraud, and efficiently protect it against them. The platform allows increasing the number of correctly identified fraudulent transactions significantly, while reducing the number of false positives. This results in a better user experience and lower operating costs.
As implementation partner, AdNovum provides full service, from consulting and project management to integration, customization and operation services for NetGuardians' solutions in Switzerland and abroad.
AdNovum's CCO Peter Gassmann: «We are very pleased to have NetGuardians as a new solutions partner. NetGuardians' enterprise risk platform will help us to strengthen our offering in the areas of banking fraud prevention and compliance automation as well as cognitive solutions. NetGuardians' success in Switzerland, particularly in the French speaking region, reflects the local banks' awareness and commitment to combating cyber crime. Opening an office in Lausanne was thus the right decision for AdNovum as a security services provider.»
Loïc Pfister, Director AdNovum Lausanne: «NetGuardians' strengths in the detection and fight of fraudulent transactions in the financial services industry ideally complement our implementation, integration and security expertise. Our first joint project achieved full customer satisfaction and we are extremely excited to go on.»
Joël Winteregg, CEO NetGuardians: «AdNovum is a trusted software company in Switzerland thanks to its excellent level of support and experience in business operations. Through this partnership, we will leverage on our mutual strengths and expertise to help banks fight financial crime with the state-of-the-art solutions.»
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NetGuardians is a leading Fintech company recognized for its unique approach to fraud and risk assurance solutions. Their software leverages big data and machine learning to correlate and analyze behaviors across the entire bank system – not just at the transaction level. Predefined controls enable banks to target specific anti-fraud or regulatory requirements. A controls update service ensures financial institutions benefit from ongoing protection in the face of the continually evolving risk challenges. Headquartered in Switzerland, the company has offices in Kenya, Singapore and Poland. NetGuardians was named a Gartner Cool Vendor in 2015 as well as a Chartis RiskTech 100 2018 Vendor.
The Swiss software company AdNovum offers its customers comprehensive support in the fast and secure digitization of existing business processes and the implementation of new business ideas from consulting and conception to implementation and operation. With the products of the NEVIS Security Suite, AdNovum is market leader for identity and access management in Switzerland. AdNovum's customer base includes renowned companies from the finance, insurance, telecommunications, manufacturing and logistics industry as well as several federal offices and cantons.
AdNovum was founded in 1988. At its headquarters in Zurich and its offices in Bern, Lausanne, Budapest, Lisbon, Ho Chi Minh City and Singapore, the company employs over 600 staff today. In Germany, NEVIS is represented by NEVIS Office Germany.