Treasury Prime, a leading embedded banking software company, has announced a strategic partnership with Effectiv, a fraud and risk management platform that leverages artificial intelligence and machine learning to detect and prevent financial crimes. The partnership aims to enhance the fraud detection capabilities for enterprises on the Treasury Prime platform, as well as to streamline the compliance and risk management processes.
Effectiv is a cloud-based platform that provides end-to-end fraud and risk management solutions for fintechs, banks, and other financial institutions. Effectiv uses advanced algorithms and data analytics to monitor transactions, identify anomalies, and flag suspicious activities. Effectiv also offers automated workflows, case management, and reporting tools to help customers manage fraud investigations and regulatory compliance.
By integrating Effectiv’s platform with Treasury Prime’s embedded banking software, Treasury Prime customers will be able to access a comprehensive suite of fraud and risk management features, such as:
- Real-time fraud detection and prevention: Effectiv’s platform can analyze transactions in real-time and block or alert customers of potential fraud cases, such as identity theft, account takeover, money laundering, and synthetic fraud.
- Enhanced compliance and reporting: Effectiv’s platform can help customers comply with various regulations and standards, such as KYC, AML, CIP, BSA, and PCI-DSS. Effectiv also provides audit trails, dashboards, and reports to help customers track and measure their fraud and risk performance.
- Seamless integration and customization: Effectiv’s platform can be easily integrated with Treasury Prime’s APIs and embedded banking products, such as money transfers, card issuance, and account opening. Effectiv also allows customers to customize their fraud and risk policies, rules, and thresholds according to their specific needs and preferences.
Chris Dean, the CEO and co-founder of Treasury Prime, said, “We are excited to partner with Effectiv, a leader in fraud and risk management, to offer our customers a best-in-class solution that can protect their businesses and customers from financial crimes. With Effectiv’s platform, our customers can benefit from enhanced fraud detection, reduced operational costs, and improved customer satisfaction.”
Rajesh Sharma, the CEO and co-founder of Effectiv, said, “We are thrilled to join forces with Treasury Prime, a pioneer in embedded banking software, to enable their customers to leverage our cutting-edge fraud and risk management technology. Together, we can help fintechs, banks, and other financial institutions to achieve their growth goals while mitigating fraud and risk exposure.”
The partnership between Treasury Prime and Effectiv follows Treasury Prime’s recent collaborations with other fintech partners, such as Sardine, Astra, and Checkout.com, to expand its embedded banking marketplace. Treasury Prime also launched OneKey Banking, a multi-bank solution, and raised $40 million in a Series C funding round earlier this year.
