Digital banking solutions provider Tyfone has partnered with Advanced Fraud Solutions (AFS) to deliver enhanced fraud detection software for commercial accounts.
The collaboration aims to offer a proactive check and ACH fraud prevention solution, addressing the increasing need for security in digital banking.
It will integrate AFS’s Positive Pay with Tyfone’s nFinia Digital Banking Solution to enhance security for commercial clients by providing tailored transaction rules and AI-driven analysis.
The nFinia platform is designed to adapt to the evolving needs of both retail and commercial banking customers.
AFS’s Positive Pay solution assists institutions in securing cash flow while preventing fraud.
The combined offering enables financial institutions to deliver a personalised and feature-rich commercial banking experience with enhanced security measures.
AFS chief partnership officer Jordan Bothwell said: “Protecting business clients is a key priority for financial institutions. However, Positive Pay adoption remains low, despite rising check fraud.
“Together with Tyfone, we are providing banks and credit unions with a more secure, advanced digital banking solution that prevents fraud, while still maintaining a frictionless experience.”
Established in 2007, AFS has been providing fraud prevention software and tools that protect financial institutions from various fraud types, including check, ACH, and wire fraud.
Based in Portland, Oregon, Tyfone provides digital banking services to community financial institutions across the US.
Tyfone strategic partnerships director Jared Kopelman said: “Protecting clients from financial threats means protecting your reputation, your customers and your future.
“Financial institutions can’t afford to be reactive to fraud – they need to take a proactive and strategic approach when combating bad actors.
“By partnering with AFS, we’re equipping our clients with powerful fraud prevention tools that ensure commercial clients can trust their institutions to safeguard their finances.”
Earlier this year, Caro Federal Credit Union (Caro FCU), which oversees $129m in assets, selected Tyfone’s nFinia Digital Banking Platform to upgrade its digital banking capabilities.
