Galileo Launches GIVE and GScore to Combat Financial Fraud

Author

Slice of Finance Team
19 Sep

Key Highlights:

  • GIVE enables instant verification of bank accounts and ownership, reducing fraud risk and verification times.

  • GScore delivers real-time risk scoring for card transactions, using machine learning for advanced fraud detection.

  • Both solutions integrate with the Galileo Payment Risk Platform, enhancing fraud prevention across multiple channels.

  • Galileo’s tools reduce customer abandonment rates by offering seamless and secure user experiences.

  • These innovations help businesses navigate digital financial complexities, improving efficiency and fraud control.

Notable Quote:

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"By harnessing advanced machine learning and real-time data, we're setting a new standard for how businesses safeguard their customers and their operations."

David Feuer, Chief Product Officer at Galileo Financial Technologies

Our Take:

The introduction of Galileo’s GIVE and GScore marks a significant step forward in fraud prevention, addressing the growing concerns around the surge in digital transactions and evolving cyber threats. With over 63% of financial institutions reporting an increase in fraud, these tools provide the real-time, customizable solutions necessary for modern businesses to stay ahead of threats. GIVE and GScore not only improve security but also enhance user experiences by minimizing transaction friction and reducing verification times from days to seconds. This dual focus on security and customer satisfaction will likely place Galileo at the forefront of fintech innovation in the fight against fraud.