Cybersecurity – PSSOFT

Cybersecurity & Fraud Prevention

Our Story

PSSOFT has a team of ethical hackers who discovered something astonishing yet painfully simple: the fraud prevention systems that banks have in place are not up to the task, especially when the fraud is scams and social engineering. No matter how prestigious the brand or large the price tag, these systems are flawed . They are falling behind in a world where fraud threats refuse to slowdown . Here's the problem — the bad guys are evolving, but most fraud prevention systems cannot evolve.

It's 2023, and yet, mostfraud detection systems are still operating like it's 2017. They’re stuck, clinging to outdated models and procedures, getting bogged down by false positives, and losing the very essence of what they are supposed to provide: Trust. The fraud teams atthe financial institutions are overwhelmed. The customer experience? It's broken. But , at PSSOFT, we're here to help fix these issues. So, what are you doing?. Contact us for any of your issues. No matter how prestigious the brand or large the price tag, these systems are flawed. They are falling behind in a world where fraud threats refuse to slow down. Here's the problem — the bad guys are evolving, but most fraud prevention systems cannot evolve. PSSOFT has become an organization of fraud fighters who are driven by a passionate,deep- seated belief in safeguarding financial institutions’customers froms cams and social engineering.

PSSOFT AN ALLY IN THE WAR AGAINST FRAUD

Positioning Statement

PSSOFT Behavioral Intelligence Platform is a category-defining technology for fraud-fighting across all digital channels designed for banks and the financial services ecosystem. PSSOFT unifies ML- based Transactional Monitoring, Digital Banking Threat Detection, and Advanced Behavior-based Invisible User Authentication under one analytical roof. This allows, for the first time ever, the security, compliance and risk teams to have a holistic view over all the digital channels, entities and transactions. Driven by our proprietary industry-proven Behavioral Biometrics and Cyber Threats research, we deliver unparalleled detection results and play a key role in your fraud stack right now as well as in the future. Our customers enjoy significant reductions in fraud rates & false positives, while their customers enjoy a frictionless user experience. This all is delivered in a hassle-free, fully managed package that will allow you to focus on your business and let the fraud be tackled by a professional and passionate Fraud Fighters from PSSOFT.

Short Description

PSSOFT is a leader in the war on fraud, using behavioral intelligence to proactively protect financial institutions and their customers from scams and social engineering fraud. Our defense surpasses traditional, transaction-based controls and authentication mechanisms, which often fall short in addressing scams where legitimate customer credentials are used. By analyzing untapped data from digital channel behavior and user-device interactions, PSSOFT not only identifies transactions performed under unusual circumstances, but also reduces false positives, cuts operational costs, and aids partners in customer retention and revenue growth.

Pitch Statement

Differentiation

Easy to understand commercial model – single license cost Multiple deployment options- ON- P RE M / CLOUD / HY BRID Web and mobile capability It’s a partnership not a vendor relationship with our clients End t o end solution – not point solution Solution designed to protect the full digital journey Created to combat all digital fraud Speed & ease of deployment Single integration One platform No historic customer data Time to value Better accuracy due to volume of data signals collected Reduce false positive rates Pro-active, preventative & predictive

CHALLENGES WE ARE SOLVING

Easy to understand commercial model – single license cost

Multiple deployment options- ON- P RE M / CLOUD / HY BRID

Web and mobile capability

It’s a partnership not a vendor relationship with our clients End t o end solution – not point solution Solution designed to protect the full digital journey

Created to combat all digital fraud

Speed & ease of deployment

Single integration

One platform

No historic customer data

Time to value

Better accuracy due to volume of data signals collected

Reduce false positive rates

Pro-active, preventative & predictive

CHALLENGES WE ARE SOLVING

Authorized PushPayment(APP) Remote Access Tool(RAT)
AccountTakeover(ATO) RemoteAccessTool (RAT) BehaviourBiometrics Automated Access (bots) Malware Detection
Phishing Mitigation
Early Warning Threat Intelligence(CFFC)
Application Fraud/Account Opening

Authorised Push Payments

What problem are we solving

PSSOFT stops fraudulent transactions that are the result of APP scams.

Customer pain points

The authorized push payment (APP) scam represents a dangerous threat since it allows scammers to fraudulently transfer money from a victim's account with the victim's permission The scammer may impersonate a trusted person or provide false information to convince the victim to authorize the payment. Once the payment is authorized, the funds are transferred to the scammer's account. The victim has little recourse to recover the stolen funds, negatively impacting the bank's reputation.

Capabilities

The key to detecting the APP is the ability to spot even the most subtle difference and specific markers that indicate the A P P is happening. This can be achieved by leveraging passive behavioural biometrics, which stems from the premise that combined habits, physical features, and environments can reliably identify someone.PSSOFT uses passive behaviour biometrics to spot the most subtle difference between the non-coached client's session and the session where the fraudster guides the client via phone.