The human identity is constructed upon many different elements, and yet there is nothing more defining about it than that tendency of ours to grow on a consistent basis. This is because the stated tendency has already got us to hit upon some huge milestones, with technology emerging as a major member of the group. The reason why technology enjoys such an esteemed stature among people is, by and large, predicated upon its skill-set, which ushered us towards a reality that nobody could have ever imagined otherwise. Nevertheless, if we look up close for a second, it will become clear how the whole runner was also very much inspired from the way we applied those skills across a real world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence, and consequentially, kickstarted a tech revolution. Of course, this revolution then went on to scale up the human experience through some outright unique avenues, but even after achieving such a monumental feat, technology will somehow continue to produce the goods. The same has grown to become a lot more evident in recent times, and assuming a new partnership works out just like we envision, it will only make that trend bigger and better moving forward.

Pidgin, a secure, real-time payments platform built for the future of payments, has officially partnered with Effectiv to help financial institutions in monitoring transactions for the purpose of detecting and preventing payments fraud. Under the agreed terms, Pidgin’s customers will have a shot at leveraging Effectiv’s robust fraud mitigation tools to realize optimal protection across the board. But what is so unique about these tools?  Well, driven by machine learning-driven fraud protection and AML/BSA parameters, the stated assortment offers enough technological prowess to flag threats in real-time, and guess what; it is notably able to achieve that across different transaction types. Even if the focus isn’t necessarily on spotting explicit threats, Effective can prove enormously useful, as it enhances your overall compliance and risk management posture, all without losing any step on the speed-related frontier.

“As adoption of faster payments grows, many financial institutions are concerned about the implications for fraud prevention and risk management,” said Ravi Sandepudi, co-founder and CEO of Effectiv. “Our team ensures financial institutions, regardless of their size, stay secure as fraud continues to evolve and faster payments become more widespread. By partnering with Pidgin, we can help more banks and credit unions across the country get ahead of risk and protect their account holders while offering the latest payment options that today’s consumers and businesses want.”

Moving on to Pidgin, the company’s claim to fame has been its ability to behave like a single integrated solution in terms of sending and receiving faster payments directly from a checking account. Considering it creates a straightforward link between the involved parties, Pidgin makes it pretty much redundant to use a holding account third-party provider or a virtual wallet. Hence, with such a streamlined system placed alongside Effectiv’s security-related knowhow, the finance industry can now viably hope to realize a level of confidence that it has never experienced before.

“Financial institutions are quickly realizing the potential of the rich data that comes with instant payments. With Effectiv, Pidgin offers a new way for financial institutions to leverage that transaction data and use it to combat fraud more holistically and effectively without relying on time-consuming back-end processes and manual workflows, which can make it difficult to process payments in a real-time environment,”  said Abhishek Veeraghanta, founder and CEO of Pidgin.