January 27, 2022
Bold is a payments company specialising in enabling small businesses with simple, sophisticated, and affordable financial tools to accept payments with cards in an easy, fast and secure way.
Bold.co has selected Fraudio’s Merchant-Initiated Fraud product as their solution for detecting fraudulent merchants. “We chose Fraudio because their analytical process was trustworthy, and they were able to adapt to Bold’s processes and architecture. The solution was easy to implement and required few operational resources to give us the desired protection,” said Jaime Aragon Calvo, VP of Data Science at Bold. “We were able to get up and running with the merchant-initiated fraud product through daily batch data initially, and move onto real-time data later, showcasing the flexibility and creativity of the Fraudio team and, most importantly, allowing us to go-to-market sooner.”
João Moura, CEO of Fraudio noted, “Bold was quite specific in what their requirements and we are very pleased to have met their needs and expectations. For us, It is particularly important to understand and satisfy our clients’ goals so that they can focus on their core business and grow.”
The Merchant-Initiated Fraud (MIF) fraud detection product allows Bold to reinforce its central value proposition to onboard merchants in a frictionless and rapid manner by detecting fraudulent merchants weeks faster than previously. This empowers Bold to grow fast without worrying about the possibility of onboarding fraudulent merchants because they are protected by Fraudio.
This partnership will allow Fraudio to apply advanced fraud detection expertise while also expanding the client base even more into the LATAM region. Clients like Bold contribute to the strength of the technology, success and growth of Fraudio.
A Colombian merchant acquirer that facilitates growth for small and medium-sized businesses by providing them with simple, sophisticated, and affordable financial tools necessary to sell and to accept payments with cards in an easy, fast and secure way.
A pioneering cloud-based SaaS solution, Fraudio connects payment service providers, merchant acquirers, issuers, and other players in the payments chain to a powerful, centralised, AI / smart brain. Using this Plug & Protect technology platform, designed to fight complex payment fraud and financial crime, Fraudio protects clients from payment fraud, merchant-initiated fraud and money laundering.
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