EQ Bank Partners with DataVisor to Drive Growth with Cutting-Edge Fraud Protection

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MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Oct 16, 2024--

DataVisor, the world’s leading AI-powered fraud and risk platform, announced today that EQ Bank selected the company’s next generation fraud detection suite to enhance its fraud-fighting capabilities. EQ Bank, the digital arm of Canada's Challenger Bank™ with a mission to drive change in banking and enrich people's lives, will now augment its advanced fraud protection across its diverse array of competitive banking offerings. This encompasses a wide range of products ranging from everyday banking accounts to guaranteed investment certificates (GICs), tax-free saving accounts (TFSAs) and other registered products, all seamlessly overseen within DataVisor's comprehensive end-to-end fraud platform.

EQ Bank is leveraging DataVisor's extensive functionalities and powerful data orchestration to bolster real-time fraud detection efforts. By unifying and optimizing EQ Bank's data flow and signals for multiple use cases, DataVisor's system acts as a central hub of intelligence, offering a holistic view to support real-time decision-making capabilities. The integration of advanced machine learning and Generative AI technologies within the platform will not only improve fraud control measures but also reduce operational costs and significantly improve the customer experience.

"We're committed to adopting innovative and forward-thinking approaches to banking while ensuring a seamless and secure experience for our customers," said Mahima Poddar, SVP and Group Head, Personal Banking at EQ Bank. "We selected DataVisor because of its comprehensive approach and cutting-edge machine learning and AI capabilities, which will allow us to streamline our fraud operations across multiple areas of our business, all in real-time. With this partnership, we are safeguarding our rapid business growth and providing the harmonious blend of speed and security that our customers deserve.”

“​​We’re very pleased to have been chosen by EQ Bank to complement their innovative digital banking solutions with our next generation fraud protection,” said Yinglian Xie, CEO and Co-Founder of DataVisor. “By combining our expertise, we aim to deliver the safest state-of-the-art solutions to protect banking customers. This partnership signifies a commitment to meet and exceed the expectations of today's dynamic digital landscape, ensuring a secure experience that seamlessly aligns with evolving consumer preferences.”

The DataVisor platform has earned the trust of numerous financial institutions, fintechs, and Fortune 500 companies globally. For more information about DataVisor’s fraud solutions, visit www.datavisor.com.

About DataVisor

DataVisor is the most comprehensive fraud and risk platform powered by sophisticated AI and modern machine learning capabilities. DataVisor empowers customers to protect against future attacks before they happen by detecting and acting on rapidly evolving fraud patterns in real time. DataVisor’s adaptable solution and data-driven approach provides businesses with unparalleled protection in an ever-evolving digital landscape.

DataVisor’s award-winning solutions and continuous innovation make them the trusted partner of choice for Fortune 500 companies and leading organizations worldwide, specializing in financial services, banking, credit unions, fintech, and payments.

About EQ Bank

Equitable Bank has a clear mission to drive change in Canadian banking to enrich people's lives. As Canada's Challenger Bank™ and seventh largest bank by assets, it leverages technology to deliver exceptional personal and commercial banking experiences and services to over 670,000 customers and more than six million credit union members through its businesses. It is a wholly owned subsidiary of EQB Inc. (TSX: EQB), a leading digital financial services company with $125 billion in combined assets under management and administration (as at July 31, 2024). Through its digital EQ Bank platform ( eqbank.ca ), its customers have named it one of the top banks in Canada on the Forbes World's Best Banks list since 2021.

To learn more, please visit eqb.investorroom.com or connect with us on LinkedIn.

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CONTACT: Media Contact

Tara Strazdas, The Fletcher Group

[email protected]

Maggie Hall, EQ Bank

[email protected]

KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA CANADA

INDUSTRY KEYWORD: TECHNOLOGY FINANCE SECURITY FINTECH BANKING PROFESSIONAL SERVICES SOFTWARE DATA MANAGEMENT ARTIFICIAL INTELLIGENCE

SOURCE: DataVisor

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PUB: 10/16/2024 08:00 AM/DISC: 10/16/2024 08:03 AM

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