Are Legacy Systems and Siloed Data Holding Back Your Remittance Operations?
Streamline operations and accelerate ROI by overcoming integration hurdles, data silos, and compliance challenges with modern, unified solutions.
Integration Complexity & Cost Overruns
Legacy remittance cores were never built for real-time APIs. Adding modern fraud tools often requires custom connectors, re-mapping transaction fields, and expensive downtime—driving up project costs and delaying ROI.
Siloed, Low-Quality Data
Payment, KYC, and agent records sit in separate systems across corridors. Inconsistent formats and missing fields make it hard to feed machine-learning models the clean, complete data they need to flag fraud accurately.
Keeping Pace With Global Compliance
Cross-border payouts must satisfy OFAC, FATF, GDPR, and local AML rules. Manual checks and static rules leave gaps, risking fines, licence loss, and blocked corridors when regulations change overnight.
Limited Fraud Expertise & Resources
Many remittance operators run lean teams focused on liquidity and payout partners. They lack in-house data scientists and fraud analysts, making it tough to maintain cutting-edge defences or fine-tune models continuously.
Enhance Security with FraudNet's Cutting-Edge Solutions
Streamline operations, cut costs, and enhance security with FraudNet's seamless integration and unified data solutions.
Low-Code API Gateway
Plug-and-play connectors slash integration time.
Data Normalization Layer
Unifies siloed records into clean, model-ready feeds.
Explainable AI Compliance Engine
Real-time screening with clear audit trails.
Managed Fraud Intelligence Service
Expert tuning and updates, no extra headcount.
AI-Native Real-Time Scoring
FraudNet swiftly analyzes remittances in milliseconds, leveraging global signals to intercept mule accounts and first-party fraud before funds are dispatched. Protect your network with cutting-edge AI that ensures secure transactions and minimizes fraud risks, enhancing customer trust and satisfaction.
Unified Cross-Border Data Fabric
Streamline your operations with our platform that seamlessly ingests, standardizes, and connects all data—sender, receiver, agent, and device. Gain a unified, reliable data source that enhances decision-making and reduces false positives, ensuring efficient and accurate remittance processing.
Automated Regulatory Reporting
Effortlessly generate SARs, CTRs, and GDPR audit logs with just one click. FraudNet’s clear rules and comprehensive evidence trails ensure you maintain compliance across all corridors, safeguarding your business from regulatory risks and keeping operations smooth and uninterrupted.
Impact & Results
Delivering Results that Matter
We don’t just promise better fraud control—we deliver tangible improvements that protect your business.
97%
Fewer False Positives
Approve more valid transactions confidently.
88%
Fraud Reduction
Experience double-digit reductions in fraud-related chargebacks
60%
Cost Savings
Save time and resources while securing your revenue.
Why FraudNet
Future-Proof Your Fraud & Risk Program
With an integrated platform designed for precision, agility, and impactful results, enabling your team to make smarter decisions, improve operational efficiency, and fuel your business growth.
Customizable & Scalable
No-code rules engine, flexible dashboards, and tailor-made machine learning models that are designed to adapt seamlessly and scale alongside your business.
End-to-End Platform
Unify fraud detection, compliance, and risk management into one powerful solution, saving valuable time and streamlining your operations.
AI Precision You Can Rely On
Reduce false positives, detect and prevent more fraud, and mitigate risk with highly accurate, real-time risk scoring and anomaly detection you can trust.
Real-Time Fraud Intelligence
Leverage advanced analytics, comprehensive reporting, and our Global Anti-Fraud Network to make faster, smarter decisions on the spot.
Testimonials
Real Success From Real Teams
Fraud.net’s flexibility has helped our AfterPay business grow by allowing us to meet our increasingly complex customer and country requirements. Their platform has enabled Arvato to increase our agility and significantly reduce fraud attacks.
Director Risk & Fraud, Arvato
FraudNet's combination of customized machine learning and flexible rules management has been transformative. We've achieved dramatic efficiency gains while maintaining robust fraud protection - a game-changer as we navigate evolving regulatory requirements.
Head of Financial Crime, Countingup
The great usability of Fraud.net is night and day when comparing it to our prior risk prevention platform. Reporting is also faster, more straightforward, and more impactful. With Fraud.net, we can easily visualize and share findings, providing our leadership with a clear understanding of the return-on-investment for our activities in real-time.
Fraud Manager, Global Financial Institution
Speak with our Solutions Expert Today
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Recognized by Industry Analysts
Related Resources
Other Services
View More
FAQs
What are the main challenges of integrating legacy IT systems for remittance services?
Integrating legacy IT systems for remittance services often involves challenges like dealing with outdated technology, ensuring data compatibility, maintaining data security, and achieving real-time processing. Legacy systems may not support modern APIs or cloud services, which can impede seamless integration. Additionally, there may be a lack of documentation or expertise regarding old systems, making the integration process more complex and time-consuming.
How can remittance companies ensure data security during IT integration?
To ensure data security during IT integration, remittance companies should implement robust encryption methods, both for data in transit and at rest. Regular security audits and vulnerability assessments are essential to identify and mitigate risks. Companies should also enforce strict access controls, use secure APIs, and comply with industry standards and regulations like PCI DSS and GDPR. Employee training on security best practices is crucial to prevent human errors and potential breaches.
Why is it important to modernize legacy IT systems in the remittance industry?
Modernizing legacy IT systems in the remittance industry is important to improve efficiency, reduce operational costs, and enhance customer experience. Modern systems can offer real-time transaction processing, better integration with mobile and online platforms, and improved data analytics capabilities. This modernization helps remittance companies stay competitive, meet regulatory demands more easily, and adapt to the rapidly changing financial technology landscape. Additionally, it reduces the risks associated with outdated and unsupported systems.
What role do APIs play in legacy system integration for remittance services?
APIs play a crucial role in legacy system integration by acting as intermediaries that enable different software applications to communicate with each other. For remittance services, APIs facilitate the integration of modern applications and services with legacy systems, allowing for seamless data exchange and process automation. This integration helps streamline operations, enhance service offerings, and improve customer experiences by enabling compatibility with digital platforms, mobile apps, and third-party services.
How can remittance companies address compatibility issues during legacy IT integration?
To address compatibility issues during legacy IT integration, remittance companies can use middleware solutions that facilitate communication between different systems. Data transformation tools can help convert data formats to ensure compatibility. Additionally, adopting microservices architecture allows for incremental integration, where new services are built around existing systems without disrupting operations. Engaging experienced IT professionals who understand both legacy and modern systems can also help in identifying and resolving compatibility challenges effectively.
What are the benefits of cloud integration for legacy remittance systems?
Cloud integration offers numerous benefits for legacy remittance systems, including increased scalability, enhanced data security, and reduced infrastructure costs. By migrating to the cloud, companies can leverage advanced technologies like AI and machine learning for better data analytics and fraud detection. Cloud solutions also facilitate easier updates and maintenance, ensuring systems remain up-to-date with the latest technology and compliance requirements. Additionally, cloud integration supports improved disaster recovery capabilities and enables remote access for global operations.