SEON, a provider of fraud prevention and anti-money laundering (AML) compliance solutions, has announced that MoneyMe, an Australian digital lender, will adopt its unified platform to strengthen fraud detection as the company continues to expand.
MoneyMe will use SEON across its product portfolio, which includes car loans, credit cards and personal loans, to enhance device intelligence, behavioural analysis and second-party fraud detection.
The decision followed an assessment of several vendors and reflects MoneyMe’s focus on strengthening risk management while maintaining customer experience.
“SEON stood out for its flexibility, strong device intelligence and scalability,”
said Jonathan Wu, MoneyMe’s Chief Operations Officer and Chief Product Officer.
“Its platform will help us consolidate tools, reduce complexity and enhance both fraud prevention and operational efficiency as we grow.”
The rollout will include fraud prevention and credit decisioning support through SEON’s data engine.
MoneyMe will also use SEON’s integrated dashboard to gain visibility across different risk areas and enable coordination between its fraud, risk and compliance teams.
“MoneyMe is the kind of forward-looking fintech we built SEON for,”
said Troy Nyi Nyi, Senior Vice President and General Manager for APAC at SEON.
“By combining device intelligence, digital footprinting and real-time compliance in one centralised command centre, we’re helping them to both stop fraud before it starts and scale securely.”
MoneyMe intends to develop its fraud detection approach further by adding additional data points to improve credit modelling, while also aiming to achieve cost savings in know-your-customer (KYC) and onboarding processes.
The company plans to extend its use of SEON to include transaction monitoring in later phases.
The article first appeared on Fintech News Singapore
Featured image credit: Edited by Fintech News Singapore, based on image by rawpixel.com via Freepik
