Fraud and risk management company DataVisor has partnered with cyber and fraud threat intelligence firm Q6 Cyber to improve fraud detection accuracy. As part of this collaboration, DataVisor is set to integrate and centralise relevant threat intelligence data in a single platform for increased financial fraud detection accuracy and speed.

Fraud detection and DataVisor – Q6 Cyber partnership details Based on the information provided in the press release, Q6 Cyber’s proprietary threat intelligence enhances DataVisor’s existing fraud signals offering financial institutions a holistic analysis of all relevant transaction data and fraud signals in one centralised platform, helping simplify fraud and risk decisioning. Q6 Cyber’s technology provides ongoing monitoring of the ‘digital underground’, including online sites, marketplaces, communities, and forums where hackers and fraudsters flourish. The company’s round-the-clock coverage also extends past the Dark Web and Deep Web to include peer-to-peer messaging apps, alongside other cybercrime infrastructure.

As a result, the company offers proactive signals that enable financial and other institutions to prevent a range of financial crimes and fraud, such as check fraud, payment card fraud, ACH and wire fraud, and mule activity, amongst others. What is more, DataVisor’s fraud and risk management platform, enables financial institutions to ingest and process a multitude of digital and fraud data signals, including Q6 Cyber’s threat intelligence data in real-time, and leverage a multi-layered detection strategy making use of a combination of rules, device intelligence, and advanced machine learning approaches. Additionally, its platform allows the integration of a multitude of other prominent third-party financial data integration, including identity and credit data, AML screening data, ID verification, and digital device and behavioural intelligence, which translates data into actionable decisioning for proactive protection.

The company is constantly building new data partnerships, like Q6 Cyber, aiming to make critical fraud and crime signals readily available on its platform. When commenting on the announcement, Yinglian Xie, Co-founder and CEO at DataVisor advised that the collaboration with Q6 Cyber marks a milestone in their commitment to better fraud and risk management for financial institutions, as the ability to process critical fraud and financial crime data in real-time comes as an essential in fighting fraud proactively. Per their statement, most legacy tools are not designed to ingest or process data effectively and the data integration can be delayed as there’s a significant amount of IT resources required, thus resulting in a reactive response to fraud attacks, opening businesses to threats and vulnerabilities, and extensive fraud losses.

The company is looking to change fraud management into being proactive by offering businesses an open platform that is flexible and scalable and helps fraud teams leverage the power of all available data with minimal IT dependence. Adding on this, Eli Dominitz, CEO of Q6 Cyber stated that Q6 Cyber is committed to furthering cyber and fraud intelligence and providing proactive solutions that help partners combat evolving threats. The spokesperson added that alongside DataVisor’s modern AI-based platform, they are helping financial institutions be a step ahead of increasingly sophisticated fraudsters.

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