NEW YORK and TEL AVIV, Israel, July 2, 2020 /PRNewswire/ — Paygilant, the mobile payments fraud-prevention and authentication solution provider, announced today that Brazilian Surf Bank Brazil, has chosen Paygilant to secure its digital bank. Paygilant will secure the Surf Bank digital payment account from mobile fraud and ensure a frictionless experience for its customers.
Surf Bank is a mobile-based digital bank and a microfinance Institution, which enables its customers to pay bills, transfer money, recharge a pre-paid card, purchase cellular packages, offer micro loans and more. Surf Bank searched for a robust mobile fraud prevention solution, that did not adversely impact the customer payment experience.
“Paygilant was a perfect fit for our needs, as its solution demonstrated superb fraud prevention capabilities,” said Yon Moreira, CEO of Surf Bank. “We were very worried about account takeover activities that are prevalent in our region, and Paygilant not only provided us with a solid fraud solution – but also eliminated the countless SMS verifications we were sending to our customers.”
“Paygilant‘s solution is designed for challenger banks, to distinguish between legitimate and fraudulent transactions, throughout the entire user-journey. It enables challenger banks to gain customers’ trust and accelerate growth while avoiding money loss. We are honored to be working with a forward-thinking organization like Surf Bank,” stated Ziv Cohen, Paygilant‘s CEO.
Yossi Shelly, Israel’s ambassador to Brazil added, “It is great to see Israeli high-tech and Brazilian Fintech uniting forces in constructing a secure payment experience. Israel’s commitment to securing the cashless world has reached Latin America.”
About Surf Bank
Surf Bank was launched with the aim of freeing Brazilian bank customers from the bureaucracy of traditional banking. Surf Bank‘s digital payment account streamlines the way clients carry out their financial activities. Using the Surf Bank‘s app customers can carry-out financial transactions and top-up their Correios Celular account using a single smartphone.
Paygilant is a revolutionary digital payments anti-fraud company, designed to eliminate the trade-off between strong fraud prevention, frictionless authentication, and user privacy. Paygilant enables financial and eCommerce organizations to boost their revenue, by enhancing the user experience and stopping fraud before the transaction occurs. It is easy-to-integrated patented technology utilizes six proprietary intelligence sets, which work in harmony to deliver value from day-one.
Paygilant simply triggers a real-time “risky” alert when fraud is detected and as “safe” one when the legit customer is identified.