LexisNexis Risk Solutions has announced a strategic partnership with Promon to enhance protection against mobile app fraud, a growing concern as financial transactions increasingly shift to mobile platforms. By integrating LexisNexis' ThreatMetrix digital identity and fraud detection capabilities with Promon's in-app protection and telemetry solutions, the collaboration seeks to provide organizations with a comprehensive approach to mitigating fraud risks. This initiative comes at a pivotal moment when attackers are intensifying their focus on mobile environments, particularly in sectors where trust and security are paramount, such as financial services and digital banking.
Promon CEO Daniel Kollberg emphasized the importance of this alliance, stating that it combines advanced mobile risk detection and behavioral insights with robust fraud intelligence. The integration aims to empower brands to deliver safer mobile experiences while reducing potential fraud losses. Similarly, Grayson Clarke, Chief Commercial Officer at LexisNexis, highlighted how Promon’s capabilities enhance the insights provided through their Risk Intelligence Network, ultimately enabling better fraud detection across mobile platforms.
Recent findings from the PYMNTS Intelligence report indicate that financial institutions are grappling with increasingly sophisticated fraud tactics, prompting 68% of them to ramp up investments in fraud-detection technologies. This trend underscores the urgency for organizations to adopt multilayered, intelligence-driven strategies to safeguard against evolving threats. Notably, LexisNexis reported that over a third of retail and eCommerce businesses experienced significant revenue losses due to fraud in the past year, further illustrating the pressing need for enhanced security measures in the digital landscape.
Promon CEO Daniel Kollberg emphasized the importance of this alliance, stating that it combines advanced mobile risk detection and behavioral insights with robust fraud intelligence. The integration aims to empower brands to deliver safer mobile experiences while reducing potential fraud losses. Similarly, Grayson Clarke, Chief Commercial Officer at LexisNexis, highlighted how Promon’s capabilities enhance the insights provided through their Risk Intelligence Network, ultimately enabling better fraud detection across mobile platforms.
Recent findings from the PYMNTS Intelligence report indicate that financial institutions are grappling with increasingly sophisticated fraud tactics, prompting 68% of them to ramp up investments in fraud-detection technologies. This trend underscores the urgency for organizations to adopt multilayered, intelligence-driven strategies to safeguard against evolving threats. Notably, LexisNexis reported that over a third of retail and eCommerce businesses experienced significant revenue losses due to fraud in the past year, further illustrating the pressing need for enhanced security measures in the digital landscape.
Source: PYMNTS
