#USA #Santa Clara #Persistent Systems #Databricks AI #Merchant Risk

Persistent Systems Launches Advanced Merchant Risk Management Solution

Persistent Systems, a global leader in digital engineering and enterprise modernization, has introduced a groundbreaking Merchant Risk Management and Fraud Detection solution, powered by the highly praised Databricks Data Intelligence platform. This innovative solution aims to empower financial institutions and payment service providers to combat the escalating challenges of fraud, regulatory scrutiny, and reputational risks associated with rising transaction volumes.

As digital payments continue their rapid growth, the concerns of fraud and compliance are becoming more pressing. Traditional risk management tools often rely on static rules and analyses conducted after transactions, which limits their effectiveness in early detection and prevention. However, Persistent's new approach shifts the focus of merchant risk management to more proactive monitoring, enabling early interventions before significant losses occur.

At the core of this solution is Agentic AI, which facilitates comprehensive vetting of merchants during their onboarding process. It assesses various factors, including business profiles, compliance history, transaction patterns, and external indicators to evaluate risk prior to any transactions taking place. Once the merchants are live, the system maintains continuous oversight, assessing live transactions, chargebacks, and external signals to promptly identify potential threats.

When any signals indicating risk are detected, the system can automatically initiate configurable responses. These may include enhanced monitoring, placing merchants on watch lists, or restricting transactions, all backed by thorough audit trails and governance protocols. Moreover, as a Databricks accelerator, the solution effectively integrates both batch and streaming data, merchant profiles, and external risk signals into a cohesive, governed intelligence layer, ensuring faster results and time-to-value.

Anticipated Benefits of the Solution

The Merchant Risk Management solution is projected to yield substantial business impacts, including:

• - A 20% to 40% reduction in chargeback and fraud losses through improved risk detection.
• - An estimated 30% to 60% enhancement in fraud detection accuracy, leveraging multi-signal intelligence.
• - A noteworthy 50% to 70% decrease in the manual review workload, allowing teams to focus on higher-value investigative tasks.
• - An anticipated 10% to 20% reduction in risk management expenses, driven by increased automation and optimized workflows.

Persistent Systems stands out as a Databricks Global Systems Integrator partner, boasting over 900 certified professionals and multiple accelerators developed on the Databricks platform. This robust partnership facilitates the immediate deployment of the Merchant Risk Management solution for banks, acquirers, and payment service providers on a global scale.

Barath Narayanan, Global BFSI and Europe Geo Head at Persistent, stated, "Merchant risk has evolved into one of the most complex challenges for financial entities as the volume of transactions surges and regulatory pressures heighten. Efficient risk management now mandates the transformation of data into actionable intelligence that can respond effectively in real time. Our collaboration with Databricks empowers us to combine scalable data processing capabilities with AI to assist financial institutions in detecting risks earlier and strengthening merchant surveillance throughout their lifecycle."

Adding to that, Josh Meyer, Global Head of Partner Solutions and Industry GTM at Databricks, emphasized that as payment ecosystems continue to grow alongside intensifying regulatory oversight, managing merchant risk has become an intelligence-driven challenge. He highlighted how Databricks and Persistent's collaboration enables financial institutions and payment providers to unify their data effectively, which is crucial for attaining real-time visibility and improved decision-making across the merchant lifecycle.

About Persistent Systems

Persistent Systems operates at the nexus of technology and business, delivering AI-led, platform-based digital engineering solutions across various industries. The company employs over 26,500 people in 18 countries and is recognized for its commitment to sustainability, having achieved carbon neutrality. Persistent has garnered fame for its rapid brand growth and has been included in several prestigious indices, underscoring its influential position in the global IT services market.

In essence, Persistent's latest Merchant Risk Management solution signifies a pivotal advancement in combating financial fraud, demonstrating how innovative technology can transform the landscape of risk management in the digital payment era.