Stockholm, Sweden – September 2024 – Ericsson has announced a huge collaboration with INFORM who are experts in risk management systems based on artificial intelligence to enhance financial security in the world.
In particular, the partnership will incorporate the crazily multiplying Ericsson Mobile Financial Services (MFS) platform with INFOR’s RiskShield solution enabling advanced detection and mitigation of fraud, money laundering, and other financial crimes.
The foremost objective of this partnership is to provide an effective means for banks, fintechs, and communication service providers against the increasing financial crime.
The RiskShield solution from informal comes with advanced AI as well as machine learning to the existing security provided by Ericsson thereby making it possible to identify and seize fraud in real-time.
Presently, Ericsson MFS dominates the active and valuable mobile finance market having registered 114 million subscribers in 24 operational countries.
Having the technology of INFORM, the growth of the user base will be accompanied by the enhancement of prevention and capture of masquerade activities thus safeguarding the financial transactions in areas of high mobile payments.
Thomas Jul, Head of Ericsson’s Digital Services, emphasized the importance of this partnership, stating,
“Our collaboration with INFORM enables us to offer a more secure and resilient financial system. Together, we’re strengthening global efforts to protect users against sophisticated financial crimes.”
The integration will be implemented in phases across major markets in the coming months with particular emphasis on countries where mobile banking as well as fintech services are set to grow rapidly.
The two organizations are actively working towards improving their technology in order to fight against sophisticated strategies of cyber troubles in the future.
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