Account origination solutions provider MANTL and real-time fraud and risk management platform Effectiv have entered into a partnership to add fraud prevention and know your customer (KYC) offering for deposit origination.

As part of the collaboration, Effectiv’s fraud prevention and KYC technology will be integrated within the MANTL omnichannel account opening experience.

The partnership will enable MANTL customers to utilise Effectiv’s artificial intelligence (AI) and machine learning-powered solutions to discover and prevent fraud during the account opening process in real-time.

Effectiv’s advanced technology will allow MANTL users to onboard new customers along with reducing risk through improved identity verification, device identification, and behavioural analysis.

Effectiv CEO Ravi Sandepudi said: “We’re thrilled to partner with MANTL and combine our technology to simplify digital transformation for financial institutions.

“Together, we can enable joint customers to deliver seamless digital account opening experiences while effectively managing risk.”

According to MANTL, Effectiv’s AI-driven solutions will seamlessly integrate with the former’s digital account opening platform to bolster approvals of legitimate applicants and lower false positives.

Besides, financial institutions are expected to benefit from an optimised implementation experience and a single dashboard view.

MANTL product vice president Colleen Wilson said: “MANTL has a long-standing track record of mitigating fraud while providing a best-in-class customer experience during the account opening process.

“By partnering with Effectiv, we are expanding our delivery of industry-leading fraud detection, leveraging automation and configurability to meet every risk strategy. This partnership strengthens our platform and ability to drive growth for our customers.”

In March 2023, Pidgin announced a partnership with Effectiv to support financial organisations in tracking transactions to identify and prevent payments fraud in real time.