Facctum has announced that FacctView – a new screening platform – has been chosen by NTT Data Payment Services to expand its anti-financial crime defences.
This new technology will support NTT Data Payments Services’ e-commerce platforms by detecting and assessing sanctions, terrorism financing and money laundering risk in consumer transactions. The deal provides NTT Data Payment Services with high-performance countermeasures to the threats posed by criminals attempting to commit financial crimes.
“Facctum technology is a great match for the needs of our high-growth and customer-focused PSP business in India,” said Takeo Ueno, CEO at NTT Data Payment Services. “Its addition to our anti-financial crime defences shows our commitment to protecting customers and providing the highest standards of compliance effectiveness. This approach extends the capabilities of the business to provide continuous robust compliance while also improving the speed of services for customers.”
With growing volumes of digital transactions, combined with changing customer behaviours, there is an increasing concern about the potential abuse of Payment Service Providers (PSPs) through cyberattacks. The increasing risks to which PSPs are exposed have led to increasingly stringent regulatory standards of compliance effectiveness. In response, PSPs are prioritising investments in risk screening capabilities, not only to fulfil regulatory obligations but also to protect consumers and deter criminals.