Ericsson and INFORM Team Up to Revolutionize Financial Security and Defeat Advanced Fraud

Ericsson and INFORM Team Up to Revolutionize Financial Security and Defeat Advanced Fraud

(IN BRIEF) Ericsson has partnered with INFORM to integrate the advanced RiskShield platform into its Mobile Financial Services Platform to enhance security in financial services and combat fraud. The collaboration will provide Ericsson’s global customers, including communication service providers (CSPs), banks, and fintech companies, with enhanced tools to detect and prevent financial crime, such as money laundering and fraud. This partnership strengthens Ericsson’s capabilities in providing secure financial services, improving protection for more than 114 million active users in 24 countries and reinforcing its position as a leader in mobile financial services.

(PRESS RELEASE) STOCKHOLM, 26-Sep-2024 — /EuropaWire/ — Ericsson (NASDAQ: ERIC) has teamed up with INFORM, a renowned provider of Anti-Money Laundering (AML) and Fraud Management Solutions (FMS), to bolster security in the financial services sector. This collaboration integrates INFORM’s advanced RiskShield platform with Ericsson’s Mobile Financial Services Platform, offering improved fraud detection and prevention for communication service providers (CSPs), banks, and fintech companies globally.

This partnership marks a significant step in Ericsson’s efforts to expand its financial services ecosystem by providing cutting-edge tools to tackle evolving financial crimes. The integration of INFORM’s capabilities with Ericsson’s platform ensures enhanced protection against sophisticated financial threats such as fraud and money laundering.

Michael Wallis-Brown, Head of Ericsson Mobile Financial Services, commented: “Our collaboration with INFORM enhances the value we offer our customers as they face increasingly complex threats. INFORM’s advanced fraud management solutions, paired with Ericsson’s expertise, will help businesses detect, prevent, and combat financial crime while ensuring a secure and resilient operational environment.”

For over a decade, Ericsson has been a leader in mobile financial services, supporting over 114 million active users across 24 countries and processing more than 36 billion transactions annually. The collaboration with INFORM will elevate Ericsson’s existing solutions, ensuring a safer financial ecosystem for both digital wallet and digital banking providers.

Roy Prayikulam, Senior Vice President Risk & Fraud at INFORM, added: “We are thrilled to extend our partnership with Ericsson to deliver our RiskShield platform. Together, we can create a safer and more secure financial environment through the combination of advanced analytics, AI-powered AML, and fraud management technologies.”

This strategic alliance streamlines vendor management for customers, offering a unified, comprehensive solution to meet the growing challenges of the financial sector. It highlights Ericsson’s commitment to leading the market in innovative, secure financial services solutions.

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SOURCE: ERICSSON