Banking and payments software company Compass Plus Technologies has launched FraudAxis, its new fraud management platform.
The new offering will help financial institutions better detect, prevent, and anticipate fraud attacks in real time across payment channels.
Founded in 2005, Compass Plus Technologies made its Finovate debut at FinovateFall 2012.
Banking and payments software provider Compass Plus Technologies launched its new fraud management platform, FraudAxis, this week. The technology is designed to enable financial institutions to detect, prevent, and predict fraud in real time across payment channels.
FraudAxis is a hybrid solution that blends rule-based analysis with adaptive machine learning models to enable banks, processors, and payment services providers to use a proactive approach to fraud management. Built on a modern, microservices architecture, FraudAxis analyzes customer behavior, anomalies, and risk patterns in real time to reduce the number of false positives, accelerate fraud detection, and safeguard customer trust. The solution does all of this without bringing additional friction to the user experience.
FraudAxis will enable financial institutions to respond sooner and faster to new fraud threats, anticipate and prevent more fraud before it occurs, and reduce false positives at scale. The solution also provides cross-channel analytics to help defend against fraud across digital and physical channels. Customizable workspaces and real-time dashboards provide 360° visibility and control, as well as access to actionable insights that enable fraud management teams to continuously evaluate and enhance performance.
“Fraud is becoming more sophisticated and coordinated, making it harder to fight with traditional tools,” Compass Plus Technologies Managing Director and Founder Maria Nottingham said. “FraudAxis combines the power of AI with proven rules-based analysis to give our customers a smarter way forward. It adapts in real time, reduces false positives, and protects the people who trust them—all without slowing down operations or sacrificing the user experience.”
Founded in 2005 and headquartered in Nottingham, UK, Compass Plus Technologies made its Finovate debut at FinovateFall 2012. In the years since, the company has successfully migrated its customers from more than 30 global platforms, and notes that 43% of its customers have been with Compass Plus Technologies for more than a decade. With its flagship offering, TranzAxis, Compass Plus Technologies offers a cloud-native, API-first, token-based alternative to legacy card-based payments infrastructures.
Compass Plus Technologies’ FraudAxis launch comes in the wake of the company’s announcement of an expanded strategic partnership with enterprise-class data security solutions provider Futurex. This agreement will enable Compass Plus Technologies’ Payment Gateway and Access Control Server (ACS) solutions to support Futurex’s VirtuCrypt Payment Cloud HSM (Hardware Security Module).
Photo by Jordan Madrid on Unsplash
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