SEON has partnered with Exist Software Labs, a technology and systems integration firm, to offer businesses in the Philippines and Southeast Asia a single platform for detecting fraud, verifying customers, and meeting anti-money laundering requirements.
SEON, the AI Command Center for Fraud Prevention and AML Compliance, said the partnership will give Exist clients across banking, fintech, payments, e-commerce, and iGaming access to its fraud prevention and compliance technology.
The agreement comes as more financial services and commercial transactions move online, increasing the need for businesses to identify suspicious activity, screen customers, and comply with regulations.
Through the partnership, Exist can integrate SEON’s platform into clients’ existing systems. This could help companies deploy fraud and compliance tools without developing their own technology from scratch.
The platform covers fraud detection and risk scoring, customer and payment screening, AML transaction monitoring, identity verification, case management, and reporting. Bringing these functions together could also reduce the need for companies to manage several separate tools.
“Fraud and financial crime keep growing more sophisticated, but most organizations are still trying to manage that risk across tools that were never designed to work together,” said Troy Nyi Nyi, SVP and GM, APAC, SEON. “By combining Exist’s engineering and integration expertise with SEON’s real-time fraud prevention and AML technology, we’re helping organizations in the Philippines and across Southeast Asia bring those signals into a single view and act on them faster.”
SEON said the partnership is part of its continued investment in Asia Pacific. The company sees the Philippines as one of Southeast Asia’s fastest-growing digital financial services markets, where the expansion of online transactions is creating greater fraud and compliance risks.
“Through our partnership with SEON, we are expanding the capabilities we can bring to our clients by combining advanced fraud prevention and AML technology with Exist’s expertise in software development, systems integration and digital transformation,” said Sir Jonas Lim, vice president for Technology, Exist Software Labs. “Together, we aim to help organizations gain better visibility into risk and take more informed action.”