- Bectran teams up with Mastercard to enhance fraud prevention in B2B credit operations.
- The collaboration utilizes Ekata by Mastercard for efficient identity verification.
What happened: Bectran-Mastercard fraud prevention alliance
Bectran, Inc., a leading credit, collections, and accounts receivable platform, has joined forces with Mastercard to combat business identity theft and fraud in B2B credit operations. The partnership focuses on leveraging Ekata by Mastercard, a tool that delivers low-friction risk insights to fight fraud. Together, Bectran and Ekata aim to empower credit departments against identity scams while streamlining risk assessments, offering a powerful solution in the realm of fraud prevention.
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Why it is important
This partnership is significant as it addresses the rising threat of business identity theft within B2B transactions. Identity fraud, traditionally associated with consumer transactions, has been increasingly prevalent in B2B businesses and trade credit. The scams are becoming more sophisticated and difficult to detect, posing significant operational challenges. Bectran’s integration with Ekata allows for the automatic flagging of suspicious transactions and provides credit managers with comprehensive risk findings, including identity and business validity assessments, all within 100 milliseconds. This not only enhances operational efficiency but also bolsters security measures, ensuring that fraudulent activities are identified and mitigated swiftly. The collaboration signifies a proactive approach to fraud prevention, aligning with the growing need for robust security solutions in the digital age of commerce. By integrating advanced identity authentication with seamless customer experiences, Bectran and Mastercard are setting a new standard for fraud prevention in the financial sector.
