Ekata, a Mastercard company that empowers businesses to enable frictionless transactions and combat fraud, announced a partnership with Singapore-based artificial intelligence (AI) and big data company ADVANCE.AI to offer B2B digital identity solutions and risk products across South and Southeast Asian markets.

With this partnership, Ekata’s Account Opening solution will be integrated into ADVANCE.AI’s core suite of services comprising digital identity verification, risk and credit scoring, and digital lending.

This will enable ADVANCE.AI to deliver global data and risk insights to its customers, helping them reduce friction in the customer onboarding process, improve conversions and combat fraud.

ADVANCE.AI serves enterprises in the banking, financial services, fintech, payments, retail and ecommerce sectors.

Tom Donlea, Vice President and General Manager for APAC, Ekata said,

“ Our strategic collaboration with ADVANCE.AI further cements our commitment to helping businesses build frictionless experiences and customer trust.

 

We are well positioned to do this through our identity verification solutions which validate customers’ identities seamlessly and securely. Together with ADVANCE.AI, we will empower businesses to combat fraud and offer seamless transactions.”

Dong Shou, CEO of ADVANCE.AI said,

“Adding Ekata’s identity intelligence further strengthens ADVANCE.AI’s powerful, enterprise-grade suite of capabilities combining data, decisioning and analytics.

 

Together, we are creating a holistic One-Stop Platform that accelerates and simplifies customer onboarding, risk management and business transformation.”

Featured image: Edited from Unsplash