Adeptra and ValidSoft have unveiled the world's first SIM swap fraud solution for the banking industry. This combines ValidSoft’s fraud detection technology with the cloud-based Adeptra risk intervention platform.

Following a pilot project at an Adeptra client, one of the world’s largest banks is the first to adopt the application. The deployment comprises SIM swap protection provided by ValidSoft’s baseline processing system, coupled with its predictive modeling capabilities. Once a suspected case has been highlighted, Adeptra's Decision Engine considers all available detection sources and a wide array of consumer data to ascertain the risk level. The system will then determine whether a communication is required and initiates the communication via the most appropriate channel for that particular customer.

Pat Carroll, CEO at ValidSoft, comments: “We are very pleased to see our partnership with Adeptra bearing fruits so quickly. The contract with a global leader in the banking industry demonstrates that our security technology is at the forefront of fraud prevention solutions. Our partnership with Adeptra combines the market leader in sophisticated customer care with the best of breed in fraud prevention solutions.”

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