📋 Tender Overview
Revelock a pioneer in behavioural biometric based online fraud prevention has today announced it is partnering with Sionic the global financial services consultancy to help banks and financial services providers around the world take a more proactive approach to detecting and responding to fraud. Sionic will offer Revelocks Fraud Detection and Response FDR Platform as part of its extensive portfolio of leading anti-fraud solutions that together protect clients and their customers from constantly evolving and expanding fraud attacks.Originally founded in 1994 and comprising more than 300 industry practitioners located across the globe Sionic specialises in providing independent advice and professional services to banks and other financial services providers. Its Financial Crime Compliance team focuses on identifying and supporting the implementation of best-in-class solutions to help its clients protect their infrastructures from attack.Whereas online fraud prevention has traditionally focused on identifying typical bad actors Revelocks solution works by leveraging advanced behavioural biometrics and hybrid-AI to create a BionicID for each user.This works like a digital fingerprint enabling financial institutions to know every user at a granular level and detect anomalies created by any threat vector that may be used to take over accounts.The platform also provides an Active Defense through configurable automated responses to fraud. Together these capabilities enhance organisations ability to accurately spot bad actors and proactively protect legitimate users against identity impersonation and manipulation threats all without adding friction to the customer journey.We are constantly reviewing the latest innovations in the fraud prevention space to ensure our clients are in the best possible position to tackle the rising tide of fraud said Gareth Evans Sionic Director and head of the firms specialist anti-fraud team.Revelocks ability to detect and then pre-emptively block and respond to fraud attempts makes it a crucial addition to our fraud prevention portfolio. Were excited about how this partnership will deliver key benefits to our clients such as cutting losses incurred by fraud and reducing the workloads of their fraud teams.Were delighted to partner with Sionic to make our technology more easily accessible to its world-renowned clients said Pablo de la Riva Ferrezuelo CEO at Revelock.Their expertise so often gained through time on the frontlines facing the very attacks we are working to block will be invaluable to us in our efforts to help financial services advance in the fight against online fraud.
