#United States #Palo Alto #MoneyGram #Global Payments #Oscilar

Transforming Global Payments Risk Management with AI

In a bold step towards enhancing its operational framework and consumer protection, MoneyGram has entered into a strategic partnership with Oscilar, an innovative AI Risk Decisioning™ platform. This collaboration aims to leverage Artificial Intelligence (AI) to create a more refined risk management infrastructure for global payments. By combining forces, the companies strive to improve efficiency, agility, and performance in financial transactions across an extensive network of countries and territories.

The Power of Partnership

MoneyGram has established itself as a leader in the global payments sector, operating in over 200 nations and supporting nearly 500,000 retail locations. With its expansive reach, the company serves more than 50 million consumers annually, emphasizing seamless and secure money transfer capabilities. The integration of Oscilar's AI-enabled features into MoneyGram's operation represents a significant shift in enhancing its risk management dynamics. Oscilar's platform is not just another tool; it's poised to revolutionize traditional risk management methods by providing real-time intelligence that is adaptive and continuously learning.

MoneyGram's Chief Executive Officer, Anthony Soohoo, expressed the company's commitment to technological advancement, stating, "At MoneyGram, we're reimagining the future of work by embracing AI across all corners of the organization." The partnership with Oscilar is a testament to this vision, focusing on developing intelligent infrastructure that facilitates smarter, faster, and safer financial transactions.

Oscilar's AI Risk Decisioning Platform

The AI Risk Decisioning™ Platform from Oscilar is designed to enhance various aspects of risk assessment by utilizing continuous learning and real-time analytics. By merging operations related to fraud detection, Anti-Money Laundering (AML), and compliance into a single scalable platform, MoneyGram will be able to simplify its processes and enhance the accuracy of its risk detection measures. This innovative platform promises to not only improve operational efficiency but also reduce costs, which can be a vital advantage in maintaining competitive pricing for customers.

Innovations such as device fingerprinting and behavioral analytics incorporated into Oscilar's technology further enhance security against fraud. According to Luke Tuttle, the Chief Product and Technology Officer at MoneyGram, partnering with AI-centric companies like Oscilar is crucial to maintaining a competitive edge amid the complexities of global payments. "This partnership reflects our belief that adaptive, intelligent risk management is essential to keep pace with the complexity and speed of global payments," Tuttle stated.

Enhancing Customer Experience

The integration of Oscilar’s platform into MoneyGram's infrastructure is set to significantly improve customer transactions. Features such as automated decision-making, real-time rule optimization, and comprehensive signal ingestion will ensure that the customer experience is seamless, leading to faster transaction approvals and reduced delays. Neha Narkhede, the CEO and Co-Founder of Oscilar, emphasized the transformative potential of this partnership: "We're proud to support MoneyGram's transition to real-time, intelligent infrastructure capable of meeting the demands of modern payments and tackling sophisticated threats."

The Future of Financial Services

As the landscape of global finance continues to evolve, partnerships like the one between MoneyGram and Oscilar will play an integral role in redefining how risk and compliance are managed. Some key benefits of their collaboration include:

• - Unified Risk and Compliance Stack: A single platform for managing fraud, AML, and other compliance-related processes.
• - Operational Efficiency: Streamlined operations that lower costs and enhance the customer experience.
• - Accelerated Deployment: A significant reduction in data migration time, facilitating quicker adoption of new technologies.
• - Enhanced Regulatory Confidence: Improved audit trails and reporting structures that align better with regulatory demands.

In the fast-paced world of global finance, not adapting can quickly become the greatest risk. As MoneyGram and Oscilar work together to harness the power of AI, they are setting a new standard for the industry, ensuring not only their own success but also contributing to a safer environment for consumers in the world of digital payments.

About Oscilar and MoneyGram

MoneyGram has been a pioneer in the global payments market for over 80 years, delivering rapid cross-border financial solutions. Oscilar, on the other hand, is recognized for its cutting-edge AI technology designed to offer real-time risk decision-making capabilities across various financial sectors, including fraud, credit, and compliance. Together, their innovative partnership marks a significant milestone in the evolution of risk management and customer service in financial transactions.