Singapore, Singapore, April 19, 2016 --(PR.com
)-- GHL Systems Berhad has teamed up with financial technology startup Jewel Paymentech (“Jewel”) to roll out intelligent merchant acquiring risk management solutions to mitigate fraud, brand, credit, and AML risks for GHL’s e-commerce (“eGHL”) and retail merchant acquiring business.
Jewel’s award winning One Sentry® uses advanced analytics to monitor and identify suspicious merchant behaviour. This fully-automated comprehensive KYC (know your client) and due-diligence service reduces the burden of manual merchant monitoring for illegal activities, allowing banks and payment facilitators to focus on business growth.
Fraud Wall, a solution developed by Jewel provides GHL with advanced capabilities to detect and prevent fraudulent transactions at the merchant level. Fraud Wall supports fraud prevention for both e-commerce and retail channels.
GHL has also deployed Capture, a real-time merchant on-boarding tool developed by Jewel. Armed with mobile tablet devices, GHL’s sales team can now acquire merchants on-site, doing away with the manual paper forms, and submitting on boarding documents remotely to GHL’s M3 Risk engine for real-time processing. Capture is integrated with GHL’s M3 Risk engine and automatically checks information with external sources such as CTOS, RAMCI and BNM Alert List.
“One Sentry® and Fraud Wall not only enhance our internal risk management capability but also enables our eGHL entity to provide our online merchants with a capability to detect potentially fraudulent transactions. Capture digitises and integrates the front end merchant application process right through to our proprietary M3 Risk engine. In short, we can on-board merchants much faster than anyone and we can provide them with better value-added services. This is terrific news for merchants!” said Raj Lorenz, Group CEO of GHL Systems Berhad.
Dunstan Maurice, Group Risk Head of GHL Systems Berhad added that Jewel’s offering is in line with GHL’s direction to embrace innovative and intelligent technologies to manage risk.
According to Sean Lam, Jewel’s CEO, the collaboration with GHL will allow Jewel to leverage on GHL's extensive network in ASEAN to deploy Jewel’s suite of merchant origination and risk management solutions.
About the GHL Group
GHL Systems Berhad (“GHL”) is ASEAN’s leading payment service provider with key operations in Malaysia, Philippines, Thailand and Australia. GHL provides world-class payment services and solutions encompassing physical, Internet and mobile payments on a sale, rental or transactional basis and is one of the top merchant acquirers in the region.
GHL manages more than 138,000 point of sales in ASEAN that enables credit card, debit card, prepaid contactless payment, loyalty, prepaid top up as well as bill payment collection services. As part of our “Beyond ASEAN” strategy, GHL has also successfully established a client base in more than 20 countries.
GHL has been listed on Bursa Malaysia since 2003. The group’s market capitalization as at 19 April 2016 was SGD195 Million.
About Jewel Paymentech
Jewel Paymentech (“Jewel”) is a financial risk technology company founded in 2014 with a mission to develop intelligent risk solutions for the banking and electronic payments industry.
Jewel’s suite of intelligent solutions helps banks and payment facilitators conduct merchant due diligence and manage transaction fraud risks using predictive analytics. Jewel also offers automated real-time solutions to large merchants such as marketplaces, to identify illegal and counterfeit goods.
Jewel has also been named by SWIFT as one of the most promising FinTech companies in Asia.