Payment Fraud Prevention app from NetGuardians sees success on Finastra’s


Finastra today announced the availability of NetGuardians’ Payment Fraud Prevention app on its open development platform. The app uses artificial intelligence to proactively detect fraudulent payments in real-time and reduce fraud losses. NetGuardians’ operational experience shows that compared with traditional anti-fraud offerings the software reduces the number of false positives by up to 83 percent, resulting in bank staff spending an estimated 93 percent less time investigating suspicious payments.

The NetGuardians app, available via, is pre-integrated with Finastra’s corporate payments, cash management and retail banking solutions: Fusion Global PAYplus, Fusion Payments To Go, Fusion Cash Management, Financial Messaging Services and Fusion Essence. A handful of customers have already selected the pre-integrated app to fight payment fraud more effectively. The app uses AI and machine learning to analyze customer behavior and accurately score payments for fraud. This approach allows banks to reduce their fraud losses while blocking fewer legitimate customer payments than traditional rules-based fraud detection engines.

“All banks must have a robust solution in place to monitor for payment fraud or face fines for missing fraudulent transactions,” said Sagive Greenspan, General Manager of Payments at Finastra. “The integration of NetGuardians’ Payment Fraud Prevention app with Finastra’s payments and cash management solutions through means that our clients can access a highly effective fraud prevention solution and be live in a matter of weeks, compared with alternatives. The NetGuardians approach means that banks benefit from operational savings and reduced losses from fraud, and so too do their customers – from individual retail customers through to multi-national corporations.”

Using the NetGuardians pre-defined AI/ML risk models, banks are able to tackle payment fraud challenges by detecting suspicious payments coming from social engineering techniques or scams, such as invoice redirection, CEO-fraud and others. When a fraudulent transaction is detected, it is temporarily held and an alert is generated in real-time and routed to the relevant stakeholders through risk dashboards and forensics tools for further investigation.

“If transactions are erroneously stopped for fraud, customers can lose time and have a negative banking experience. It is therefore vitally important for banks to implement a fraud solution that reduces the risk of false positives and removes the burden of manual work required to handle suspicious transactions,” explained Joël Winteregg, CEO at NetGuardians. “Finastra is a valued partner and we’re thrilled that our Payment Fraud Prevention app is seeing growth on the platform. We are impressed to see that in a very short period of time, four Finastra customers have already selected our app. The integration makes it incredibly easy for banks that are already using Finastra’s payments, cash management and retail banking solutions to deploy our app and start benefitting from fraud protection – with a reduced implementation cost and fast time to market.”$15bn-with-$450m-series-c-fundraise,-accelerating-global-expansion Triples Valuation to $15bn with $450m Series C Fundraise, Accelerating Global Expansion, the leading Connected Payments™ solutions provider, today announced that it closed a $450 million Series C fundraising round. This gives the business a post-money valuation of $15 billion, making it the fourth largest fintech globally and EMEA’s most valuable venture-backed business(1), as the business continues to expand across the globe.

The Series C was led by Tiger Global Management, LLC, a New York-based technology investor that partners with dynamic entrepreneurs operating market-leading growth companies, including Facebook, LinkedIn, Spotify, ByteDance, and Greenoaks Capital also joined the round along with participation from existing investors Insight Partners, DST Global, Coatue Management, Blossom Capital, Endeavor Catalyst, and Singapore’s Sovereign Wealth Fund GIC.

Guillaume Pousaz, CEO and Founder of said: “Payments affect everything from the customer journey to a business’s ability to enter new markets or launch new products. This latest fundraise reflects our market-leading position and the size of our aspirations as we accelerate in our mission to empower merchants to build better products, drive more revenue and create innovative business models by reimagining interactions with financial services. Our new investors bring a wealth of experience across payments, technology and scaling companies – crucial knowledge for the next stage of our growth, as we continue to build our vision for the future of Connected Finance™.”

Investing in the Future of Payments

Research from McKinsey & Company highlights the scale of the payments opportunity, with total global payments revenue reaching just under $2 trillion in 2019(2). Meanwhile a recent report from in partnership with Oxford Economics(3) revealed the scale of the challenge that many merchants face, with $20.3 billion lost to false declines in payments in 2019 alone and more than $12.7 billion handed from first choice merchants to their competitors. Additionally, customers who gave up on their intended online purchase completely resulted in more than $7.6 billion of missed opportunity for merchants. addresses these issues by giving enterprise businesses the most proactive tools to drive best-in-class performance and more control through advanced data features, fraud management tools, and comprehensive reporting.

The fundraise comes as the global economy looks beyond the COVID-19 pandemic. While many organizations have historically relied on one-size-fits all payment systems, the need to drive improved performance, gain transparency across payments and extract valuable information from data is increasingly becoming a competitive differentiator.’s cloud-based unified platform enables merchants to manage payins and payouts at scale, while achieving better performance and improved acceptance rates globally. Leading ecommerce businesses such as Farfetch, Mango, Victoria’s Secret, L’Occitane and The Hut Group depend on for a fast, reliable, adaptable and safe platform that gives granular access to the data and pricing behind every transaction.

While’s profits from current operations will continue to be reinvested to power future growth, the new funding will be used to further grow its balance sheet and drive new innovative opportunities. With a total of $830 million raised within the last two years,’s readily available cash represents one of the strongest balance sheets across all global fintechs. This further strengthens the company’s resilience as a regulated entity in numerous markets and as the financial partner to its merchants. It also allows for continued strategic investments and product developments, like the Payouts solution which saw exponential growth over the last year. Unveils North American Headquarters

In addition to today’s Series C funding announcement, is announcing the opening of its New York City office. The company first launched in the U.S. in 2017 and has operations in San Francisco. Together, the bicoastal offices will power the organization’s ability to meet the growing demand in the U.S. for Connected Payments™ solutions, as increases its focus on serving U.S.-based enterprises in domestic, global and cross-border payments. The company is also announcing an office in Denver. Globally, will hire an additional 700 people across all its locations  in 2021.’s transformative approach to payments and payouts has garnered its reputation as the most trusted technology provider behind many of the most valuable fintechs and cutting-edge businesses, including Klarna, Revolut, Transferwise, Coinbase, and eToro. With a platform that can support both best-performing global payments and payouts, has become the backbone of the world-beating progressive business models, among the leading fintechs, streaming services, and marketplaces.

Scott Shleifer, Partner at Tiger Global Management said: “We are excited to partner with Guillaume and as they continue to build an innovative global payments and financial services platform trusted by leading internet companies. We believe the shift to digital commerce is still in the early stages, and’s focus on developing a best-in-class technology platform has positioned them to be a leader in the industry for years to come.”

In June 2020, announced its Series B which valued the business at $5.5bn and was led by technology fund Coatue Management. In 2020, it also announced the acquisitions of ProcessOut and PinPayments, as well as a strategic investment in Thunes.