Deutsche Bank plans to bring IPID’s verification, fraud and compliance signals into more of its global payment decisions.
The bank already uses selected IPID fraud prevention tools.
Under a planned partnership, the companies intend to expand the use of IPID’s technology across Deutsche Bank’s global payments business.
IPID combines signals for verification, fraud detection, compliance and payment optimisation.
The companies also plan to develop new capabilities to help assess payments before money moves.
They expect the wider rollout to support faster processing, better fraud detection and more efficient routing, while giving clients greater certainty that funds will reach the intended beneficiary.
“Building trust and certainty into every payment decision is only the beginning. Decision intelligence is where the industry is heading next, giving banks a live signal on trust and certainty, not just a static check.
Deutsche Bank adopting this layer is a strong signal of where global payment infrastructure is going.”
said Damien Dugauquier, Co-Founder & CEO, IPID.
“As global payments volumes continue to grow and move in real-time, having clearer insight before a payment is sent is increasingly important.
By combining Deutsche Bank’s global payments expertise with IPID’s decision intelligence capabilities, we will be able to help clients identify risks earlier, reduce unnecessary payment delays and move money more efficiently,”
said Rachel Whelan, APAC & MEA Head of Corporate Cash Management & Global Head of Payments & Transactional FX Product Management, Deutsche Bank.
Featured image: Edited by Fintech News Singapore, based on image by starmultikharisma via Magnific
