Featured in Fintech Power50 Magazing Edition 58.
As the global digital payments landscape expands, with projections to reach $16.59 trillion by 2028 at a CAGR of 9.52%, the need for robust fraud prevention has never been greater. AcuityTec addresses these growing threats by providing advanced payment verifications and fraud prevention solutions. Leveraging KYC data and technologies like machine learning, real-time transactional monitoring, and perpetual KYC (pKYC), AcuityTec empowers businesses to stay ahead of emerging fraud schemes while ensuring secure, seamless transactions without compromising user experience.
Central to AcuityTec’s innovative suite of products is CardTrust, a groundbreaking solution designed to simplify and enhance KYC verification at the point of card transactions. Built to reduce the friction and cost associated with traditional KYC processes, CardTrust leverages minimal customer data to verify transactions instantly.
By cross-referencing the BIN (Bank Identification Number), the last four digits of the card, and a ZIP code with issuer bank records and customer KYC data, CardTrust ensures real-time verification with zero customer friction. In addition to validating the transaction, CardTrust runs comprehensive Name, Address, and Phone ID verification checks, significantly enhancing the security of each payment. Furthermore, it allows clients to customize the process by integrating additional KYC or authentication verifications from AcuityTec’s extensive data hub, tailoring the solution to meet specific business needs.
As Alfredo Solis, Managing Director of AcuityTec, explains, “CardTrust provides a real-time defense layer, leveraging bank issuer data and adaptive intelligence to mitigate fraud without disrupting payment flows.” This balance of speed and security is crucial in today’s fast-paced financial landscape.
AcuityTec’s Adaptive Fraud Defence system offers businesses powerful real-time fraud prevention to combat fraudsters’ growing sophistication. By leveraging machine learning, the system constantly analyzes transactional data, identifying suspicious behaviors and emerging fraud patterns. This proactive approach ensures businesses can prevent fraud before it escalates into chargebacks or losses.
The system builds detailed customer profiles based on historical data, payment methods, and behavioral trends. Any deviations trigger risk-based workflows, enabling automatic transaction pauses or additional verification requests. This dynamic approach ensures legitimate customers enjoy a seamless experience while potential fraud is intercepted.
AcuityTec’s adaptive fraud defence stands out for its unparalleled flexibility. Businesses can fine-tune workflows and configure risk rules to address regional regulations, customer profiles, industry sectors, and transaction behaviors. This modular approach ensures each deployment is optimized for security and operational efficiency, delivering a tailored solution that adapts dynamically to unique fraud patterns and compliance needs.
Furthermore, businesses receive a comprehensive 360-degree view of transactions and customers with real-time monitoring with multiple data streams across every interaction point. The platform operates with continuous analysis of data and behaviours to detect and flag even the slightest anomalies and suspicious activity, enabling immediate response and mitigation. By leveraging advanced algorithms and machine learning, businesses gain deeper insights into fraud trends, allowing for proactive defence while building a more accurate and nuanced understanding of customer behaviour.
“Our platform customization enables companies to fine-tune their risk management strategies, ensuring robust protection and seamless transaction flows across channels”, adds Solis.
As regulatory landscapes shift and fraud techniques like deep fakes and AI-generated fraud evolve, traditional KYC processes struggle to keep up in high-stakes payment environments. Perpetual KYC (pKYC) addresses these challenges by continuously verifying identities and updating customer profiles, ensuring businesses always have the most accurate data.
Periodic KYC reviews can leave gaps that expose businesses to fraud. AcuityTec’s solutions integrate pKYC, biometrics, authentication data, document verification, and machine learning, all powered by a risk engine with thousands of parameters and customizable thresholds.
“Our pKYC approach provides ongoing protection by continuously verifying customer KYC data, authentication data, document verification, and machine learning, all powered by a risk engine with thousands of parameters and customizable thresholds. From onboarding to transaction security and solutions like CardTrust, pKYC, ensures seamless identity proofing and fortifies businesses against emerging local and global fraud threats while staying agile with evolving regulations,” Solis adds.
AcuityTec is not merely responding to the evolving demands of fraud prevention; it’s defining the future of secure transactions. With the launch of CardTrust and the integration of advanced solutions like Adaptive Fraud Defence, Transactional Monitoring, and Perpetual KYC, AcuityTec equips payment operators with the cutting-edge tools necessary to outpace emerging threats. By streamlining fraud detection processes and automating critical KYC verifications, AcuityTec enables businesses to optimize operational efficiency without sacrificing security.
AcuityTec ensures that businesses remain resilient, agile, and prepared to meet the most complex fraud challenges head-on in an industry where performance, security, and compliance are non-negotiable. “Whether you’re looking to elevate your transactional monitoring or integrate advanced identity verification solutions, AcuityTec’s platform seamlessly scales with your business needs,” concludes Solis.
Learn more about AcuityTec or contact an account representative to book a customized demo.