Real-Time Verified Payment Protection and Fraud Detection
In recent years, financial losses due to corporate payment fraud have grown exponentially. Fraudsters increasingly target corporate payment systems directly as the financial gains from these scams remain substantial. The battle against fraud is demanding, since corporations are attacked on many fronts, simultaneously. The world’s growing dependency on digital connectivity has created new opportunities for malicious insiders, while cybercriminals outside organizations become more sophisticated every day, continuously finding new points of vulnerability,
Transaction Authority™ was specifically designed to prevent financial losses due to fraudulent payments. It Enhances existing payment infrastructures with cutting-edge security and process controls that immediately detect, followed by either blocking or holding transaction exceptions, until approved by the relevant parties.
Our proprietary TxAuthority™ allows organizations to define and enforce specific payment policies through external authorities, in order to prevent payments to an unapproved or an unauthenticated supplier. It safeguards payments-run processes, while enforcing the corporation’s payment policies and increasing their Accounts Payable operational efficiency and SOX compliance.
TxAuthority™ is the most secure and effective payment protection currently available. Every transaction is continually verified, through every step of the payment process, within multiple systems and multiple organizations.
TxAuthority™ addresses a broad range of cyberattacks and fraud to protect corporate payment systems against insider fraud, external fraud, social engineering, and data manipulation attempts.
See how nsKnox can help your organization