Fraud prevention specialist INETCO Systems Ltd has agreed to strengthen the security of Central American fintech RedAbierta.
Under the deal’s conditions, INETCO will provide its proprietary ‘BullzAI’ solution to RedAbierta, which will assist in detecting suspicious behaviour and blocking fraudulent transactions, ramping up AML efforts.
As a POS and ATM provider, RedAbierta’s clientele includes banking agents, merchants, and banking hosts, facilitating transactions between consumers and businesses across Honduras, Nicaragua, Guatemala and El Salvador.
Julio Arévalo, Co-Founder and CEO of RedAbierta, commented: “We are excited about the possibilities of INETCO BullzAI. In the last two years, RedAbierta has implemented more than 3,000 banking agents with several banking institutions in Central America, developing payment method applications and loyalty systems in the region.
“We have become a strategic ally for our clients. Being able to see what’s happening on our network in real-time while also blocking fraud and suspicious activity will help ensure our customers consistently experience excellent service.”
Bijan Sanii, CEO of INETCO, stated that the company is “committed” to ensuring payments are strictly monitored.
He added: “We have a proven track record of increasing the security and stability of payment transactions and are excited about the opportunity to drive financial inclusion and the adoption of secure payments in Honduras.”
