Financial crime prevention

Enygma is a Financial Crime Prevention software that risk scores transactions in real time. We believe that expensive KYC strategies are not enough to prevent from chargebacks, which is why we created a solution that can predict, prevent and manage fraud and financial crime.

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Regulations compliant

Enygma uses only non-PII data to score our users. Our solutions prioritizes user privacy and is compliant with GDPR and all local data privacy laws.

PSD2 obliges payment service providers to apply so-called “strong customer authentication” (SCA) when a payer initiates an electronic payment transaction. A study concluded that SCA would cost European businesses EUR 57 billion in its first year.

However, the European Banking Authority decreed that PSPs shall be allowed not to apply SCA where the payer initiates a remote electronic payment transaction identified by the PSP as posing a low level of risk through risk scoring.

Financial fraude

There is over 10% estimated fraud losses in any organization and global card fraud loss amounted to €25.5 billion in 2020. However, 42% of companies with set fraud prevention reduced their fraud attack expenses by 42% in 2020.

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Adaptive rules engine

Enygma’s advanced self-learning models provide a holistic view of customers and identify at-risk activity to reduce chargebacks and false positives.

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Technology

Enygma analyzes historical data, provides transaction monitoring and risk scores events to prevent fraud and suspicious behavior through risk intelligence in less than 400 milliseconds.

Over 10%

Estimated fraud losses in any organization

€7.2 Bn

Cost of bank fraud worldwide in a year

€10 Bn

In lost turnover every year in the world because of 3D Secure

€25.5 Bn

Amount of global card fraud loss in 2020

Enygma is industry agnostic
Enygma applies its knowledge and technology in various industries. We are choosing to be subject matter experts in all of them.