New release from Compass Plus Technologies: FraudAxis, their latest fraud prevention solution
Compass Plus Technologies, a UK-based payments technology company founded by Maria Nottingham in 2002, has announced the launch of its new fraud management platform, FraudAxis. This innovative platform is designed to help financial institutions detect, prevent, and anticipate fraud attacks in real time across payment channels.
FraudAxis is built on a modern, microservices architecture and offers customizable workspaces, real-time dashboards, and cross-channel analytics. These features provide 360° visibility and control, as well as access to actionable insights for continuous performance evaluation and enhancement.
The platform enables Compass Plus Technologies' Payment Gateway and Access Control Server (ACS) solutions to support Futurex's VirtuCrypt Payment Cloud HSM. This partnership expands the strategic partnership between the two companies, with Compass Plus Technologies announcing an expanded strategic partnership with enterprise-class data security solutions provider Futurex.
FraudAxis analyzes customer behavior, anomalies, and risk patterns in real time to reduce false positives and accelerate fraud detection. It helps prevent more fraud before it occurs and enables financial institutions to respond sooner and faster to new fraud threats.
Compass Plus Technologies offers a cloud-native, API-first, token-based alternative to legacy card-based payments infrastructures with its flagship offering, TranzAxis. The company made its platform debut at platformFall 2012, and since then, it has successfully migrated its customers from more than 30 global platforms.
Notably, 43% of Compass Plus Technologies' customers have been with the company for more than a decade, demonstrating the company's commitment to delivering reliable and innovative solutions.
FraudAxis is a hybrid solution that combines rule-based analysis with adaptive machine learning models. It does not add additional friction to the user experience, making it a valuable addition to any financial institution's fraud management strategy.
The launch of FraudAxis comes at a time when the need for robust fraud management solutions is more critical than ever. As digital payments continue to grow, so does the risk of fraud. With FraudAxis, financial institutions can better defend against fraud across digital and physical channels, ensuring the security of their customers' transactions.
In conclusion, Compass Plus Technologies' FraudAxis is a game-changer in the world of fraud management. Its advanced features, combined with its commitment to customer satisfaction, make it a powerful tool for financial institutions seeking to protect their customers and their businesses from fraud.
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