Coinify to deploy Cybertonica’s fraud prevention and AML services
Coinify, a blockchain payment, and cryptocurrency trading technology provider today announced they have signed a long-term agreement with Cybertonica, a machine learning and AI technology that offers cross-channel real-time risk and fraud solutions in the cryptocurrency world.
Cybertonica’s risk intelligence platform will be used by Coinify to improve customer experience through frictionless checkout for the great majority of customers. Cybertonica covers all channels of payments and monitors transaction systems against intrusion with its unique end-to-end detection logic. This partnership aims to make cryptocurrency trading and payments safer and more secure for Coinify’s users while preventing chargebacks and regulatory risk.
“The team at Cybertonica are doing impressive work in turning the potential of Artificial Intelligence and Machine Learning into a practical, actionable reality. As virtual currencies come into focus with the 5th Anti-Money Laundering Directive, this partnership will help us achieve our goal of being regulatory pioneers in the blockchain payments space. Partnering with Cybertonica allows us further opportunity to be at the cutting edge of risk management.”
“Cybertonica with our CTO Sergey and the team have delivered a GDPR and PSD2 compliant strong authentication product and technology that we are now bringing to the future of money and omnichannel payments. We have no doubt that cryptocurrency, just like other electronic and mobile transaction formats over the last 20 years, will build momentum in the monetary, financial services and payment systems. Coinify and Cybertonica intend to revolutionize the way Coinify assures these services that are vital to the growth of its virtual currency platform. Coinify will become the most secure and optimized environment for the cryptocurrency customer, for trading with full transparency for the regulator. We are proud to work with the whole Coinify team who have led the way in Europe for Bitcoin and Crypto, to deliver this in a way that is going to give their business significant growth and added confidence to expand into new territories.”