Challenger Banks

Across the globe, challenger banks, neo banks, virtual banks, digital banks are mushrooming rapidly chipping away market share from traditional banks. Offering the latest in innovation and access, these new financial entities are meeting the needs of niche market segments such as immigrants, freelancers and independent contractors, women, and small businesses.

Legacy fraud prevention methods, such as user ID and password, are simply no longer effective — they are simply unreliable and uncomfortable as most challenger banks relay on mobile banking as the main transacting methodology.

Paygilant was specifically designed for mobile banking. The Paygilant solution Combines big data analytics, smart rules and machine learning that validates mobile payments instantly and transparently. Paygilant’s layered security methodology provides superior fraud protection while dramatically reduces  customer friction.

Why Paygilant?

  • Drive growth by securing mobile transactions. Paygilant secures mobile transactions using its revolutionary SmartRisk methodology that prevents erroneous mobile traffic from infiltrating your client’s accounts.
  • Secures customers throughout the users journey.   Paygilant ensures that your customers are confidently secured throughout the users journey from app download to continuous transaction.
  • Significantly reduce chargebacks and fraud losses.  Minimize  the charageback process,  which is a lengthy, costly and annoying to all parties.
  • Drive growth by securing mobile transactions. Paygilant secures mobile transactions from malware, trojans and bots, and prevents erroneous mobile traffic from infiltrating your client’s accounts.
  • Build a trusted and loyal customer base .  By accurately authenticating existing and new bank clients you can build a new (mobile only) customer base.

Paygilant Use Cases for Challenger Banks/Neo Banks 


Account Takeover

Account Takeover has become a common attack vector that is impacting financial institutions.  Fraudsters gain unauthorized account access using credentials obtained through compromised devices, malicious personas, shared passwords,  and other tricks.  Paygilant advanced Smart Risk Methodology combines behavioral, biometric, device and transaction data to stitch together a continious indication whether the account has been infiltrated.


New Account Fraud

New account fraud using breached financial identity theft has become widespread. Paygilant’s solution evaluates if a new user is behaving as a legitimate user, fraudster a machine. By flagging high-risk accounts in real time Paygilant prevents fraud before they happen.


Transaction Fraud

Bank clients conducting mobile transactions can often be the victims of transaction fraud. Fraudsters use transaction based attacks to bypass simple device intelligence solutions by launching attacks from the user’s recognized device and authenticated session. Paygilant delivers strong device identification,  behavior biometric analysis, and transaction review, while evaluating the overall security posture of the mobile device. 

Overview Brochure