M2P Fintech, to enhance its digital safety, has partnered with fraud and identity management platform Bureau that will strengthen fraud prevention measures while doing digital transactions. According to the terms of the tie-up, the Chennai-based startup, will integrate its fraud and risk management platform with Bureau’s device intelligence and behavioural biometrics capabilities.
A statement by the company revealed that by leveraging Bureau and M2P Fintech’s combined solution, banks and FinTech companies can now verify both user and device trustworthiness before a financial transaction gets completed, proactively mitigating fraud risks and ensuring a secure and seamless user experience.
The collaboration between M2P FinTech and Bureau is expected to help improve the customer experience on cardless transactions. The companies have set a target to monitor and assess risk for over 100 million monthly transactions by the end of the year under this partnership. The solution has already seen adoption by private banks in Asia, the companies note.
“With the evolution and democratisation of technology, scammers also have access to the same advanced tech as we do. With new types of transaction fraud emerging every day, constant innovation to safeguard transactions is paramount,” Prabhu Rangarajan, Co-Founder, M2P Fintech, said in a statement.
M2P Fintech was co-founded in 2014 by Madhusudanan R, Muthukumar A and Prabhu R.
