In an effort to provide maximum security to its users, Chile’s first and only fintech prepaid card issuer Tenpo recently forged an alliance with digital fraud prevention company Paygilant under which the Israeli company will secure Tenpo’s signature protection system.
Paygilant’s solution is designed for fintechs that require fraud prevention, without compromising the user’s experience. Paygilant enables financial applications like Tenpo to attain customers trust, accelerate growth and prevent money loss. “We are honored to be trusted by such an innovative and forward-thinking organization,” said Ziv Cohen, the Israeli company’s CEO.
Tenpo provides its clients with bill payments, transfers and deposits, top-up prepaid services and withdrawals. Its application allows customers to manage their finances from their mobile device quickly, easily, and safely. Through the Tenpo platform, a customer can make transactions abroad, make phone recharges and pay bills for all kinds of basic services, the company said.
“We selected Paygilant because it is designed for the financial industry and we believe that they actively meet the security challenges that exist today,” said Fernando Araya, CEO of Tenpo. Araya said the platform “enables us to offer the highest security standards to our clients, maintaining ourselves as leaders in fintech financial technological development. The new forms of account fraud are a reality, so we must be prepared, without affecting the experience of our clients. Financial institutions must provide powerful protection signals to their clients against possible threats.”
Paygilant says that its solution is designed to eliminate the trade-off between strong fraud prevention, frictionless authentication, and user privacy.