Sontiq, the leader in Intelligent Identity Security, announced a new disruptive pairing in Fintech for the payments sector – a patent-pending Digital Fraud Protection System designed to work with a broad array of electronic payment platforms, including cryptocurrency. The system utilizes proprietary systems, including fraud protection and monitoring services such as credit and Dark Web monitoring, to verify credentials associated with particular user accounts. It can also include Sontiq’s Mobile Attack Control™ capabilities to verify if a mobile device involved in the receipt of the electronic payment has been compromised by a nefarious source.
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Sontiq introduces patent-pending Fintech disruptor, infusing Digital Fraud Protection into electronic payment platforms, built to protect consumers’ digital footprint.
A real-world example of Sontiq’s patent-pending Digital Fraud Protection System occurs around Electronic Check Payments. If during the transmission of an eCheck, Sontiq identifies that the recipient’s email is fraudulent or has been potentially compromised, its Digital Fraud Protection System would then alert the sender, before the payment is transmitted. Sontiq’s Digital Fraud Protection System can also monitor fraud on devices connected to payment platforms. In this case, Sontiq can potentially detect and alert the sender if a phone connected to the payment platform Terminal was jailbroken or compromised.
“Our patent-pending Digital Fraud Protection System is a Fintech disruptor in the payments industry, as it’s platform agnostic and focused on protecting consumers’ extended digital financial footprints,” said Brian J. Longe, President and CEO of Sontiq. “This latest innovation is an additional component of our cloud-based Intelligent Identity Security platform. We will continue to transform the identity theft protection industry with proprietary, world-class, innovative features focused on fraud protection and increased security and privacy of the identities we are responsible for.”
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