MANILA, Feb 1, 2024 – (ACN Newswire) – Bureau, a global leader in identity decisioning and fraud prevention, today announced its strategic expansion into two key Southeast Asian markets: the Philippines and Indonesia. This move solidifies Bureau’s commitment to providing comprehensive and cutting-edge fraud and risk prevention solutions to digital-first businesses in the region.
With a rapidly growing digital economy and constantly evolving regulatory compliance, Southeast Asia presents both exciting opportunities and significant challenges for FinTechs and Digital Banks. Fraudulent activity threatens to undermine trust and stifle growth, making robust fraud prevention measures crucial.
Bureau’s diverse suite of solutions tackles this problem head-on, empowering FinTechs across the region to:
Prevent fraudulent users from entering their systems: Bureau maps digital personas, using user’s email, phone, and social profiles, to physical identities and analyzes behavioral activity to identify and remove suspicious users effectively, in real-time.
Guard against evolving fraud tactics: From device intelligence to device fingerprinting and behavioral biometrics, Bureau offers a comprehensive ML-based arsenal to combat synthetic frauds and money mules.
Gain actionable insights on New-to-Credit Borrowers: Tokenized risk scores and contextual analysis provide clear, actionable insights, to guide informed decision-making with the help of alternative risk intelligence signals.
Leverage a powerful Trust Network: Bureau’s unique network, built based on millions of processed data across regions, assesses risk based on connections between digital personas, physical identities, and behaviour patterns, offering a deep understanding of individual users.
“We understand the specific challenges faced by financial services in Southeast Asia,” says Ranjan R Reddy, CEO of Bureau. “Our targeted solutions are designed to address these challenges related to new-to-credit borrowers against money mules, social engineering, and account takeovers offering a tactical approach that solves real-world fraud problems for businesses of all sizes.”
“Southeast Asia presents a fertile ground for tech innovation in financial services,” states Preekshit Gupta, VP of SEA and MEA at Bureau. “With the ever-evolving nature of fraud, having a trusted partner like Bureau is crucial for FinTechs and Banks going digital, to protect their investments and maintain their customers’ trust. We are proud to be their go-to partner for achieving sustainable growth through effective fraud prevention.”
Bureau’s entry into these key SEA markets in the Digital Lending and Banking space underscores its commitment to building a robust regional presence and empowering businesses to navigate the growing complexities of the digital financial landscape.
About Bureau
Bureau is a modern no-code fraud detection, and identity decisioning platform. It delivers accurate conclusions about the trustworthiness of digital identities to prevent fraud and ease compliance, resulting in seamless digital journeys for legitimate customers. The single AI-architected platform provides banks, fintechs, gaming, and gig economy companies with a complete range of fraud, risk and compliance solutions in over 100 markets globally.
Backed by leading global investors, including Quona Capital, Village global, Commerce Ventures, Okta (Nasdaq) , and GMO Payments (Tokyo), Bureau is headquartered in San Francisco, with a global presence in India, Southeast Asia, and the Middle east. Learn more at https://www.bureau.id.
This press release is issued through AsiaNewswire.net (www.asianewswire.net) a newswire service for Asia Pacific, South and Southeast Asia. The release is distributed by EmailWire (www.emailwire.com) the global newswire service that provides Press release distribution with guaranteed results.™
Media Contact:
Maruthi Kumar
[email protected]
Topic: New market for product
Source: Bureau
Sectors: Cloud & Enterprise, CyberSecurity, Daily News, Banking & Insurance, Digitalization, Local Biz, FinTech
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