Image credits: Adyen
Amsterdam-based fintech unicorn Adyen announced a new machine learning tool, Score, for signaling irregular activity and monitoring platform compliance.
By leveraging network analysis and ML, Score flags unusual behavior by platform users and assigns a risk score – helping Adyen’s merchants prevent misuse of the platform.
Get to know the amazing finalists here
The tool provides insights through a broad set of risk signals. Adyen says the feature is of significant support for platform merchants’ compliance procedures.
Benefits of Score
By improving effectiveness and reducing time spent on user security reviews, Score aims to increase operational scalability of the platforms.
“This is where tech and compliance meet – we’re very excited about the launch of Score, as we are now able to support our platform merchants in platform user fraud and integrity monitoring. Reducing risk is a top priority for platform businesses”, said Mariëtte Swart, CLCO of Adyen.
“The feature puts our merchants in full control by offering a solution that never stops learning,” she added.
GoFundMe, the global online fundraising platform, is one of Adyen’s first merchants to implement Score during the past six months.
“Score has helped us to provide the best service we can to help as many people as possible – while also ensuring our customers trust that GoFundMe is keeping them safe and protected,” said Matthew Murray, Director of Risk & Compliance at GoFundMe.
“We are constantly adopting the best tools to ensure we have a full and accurate picture of our risk profile, so we were pleased to be the first to try this new Score solution,” adds Murray.
Adyen’s previous developments
A week back, Adyen announced a partnership with Just Eat Takeaway.com to launch Takeaway Pay Card as a part of Takeaway Pay employee benefits service.
The new debit card will allow Takeaway Pay corporate clients to use their meal allowance at thousands of selected food and beverage merchants that accept Mastercard and Maestro worldwide.
The Dutch fintech unicorn also posted its H1 2021 Shareholder letter and financial statements. You can check out the key takeaways here.
In June, the US Office of the Comptroller of the Currency (OCC) approved Adyen’s application to establish a Federal Foreign Branch in San Francisco, California.
In May, Adyen launched Planet, a tool that allows Adyen’s merchants to offer their shoppers the opportunity to offset the carbon footprint of their purchases at the end of the checkout process.
How partnering up with Salesforce helped him succeed!
