Treezor expands its partnership with Mastercard to strengthen the safety and security of its ecosystem
PRESS RELEASE
Paris, June 11, 2024 - Treezor, European leader in Banking-as-a-Service (BaaS), is extending its partnership with Mastercard with two new solutions which complement its security and anti-fraud system.
A common objective: a better protected ecosystem
The digitalization of payment services, which are increasingly diversified, leads to an increase in the risks of fraud for businesses and consumers.
Building on this observation, Treezor and Mastercard, whose partnership initiated in 2017 and extended in 2022, are continuing their collaboration with the common objective: securing the ecosystem.
As a European pioneer of Banking-as-a-service, it is essential for Treezor to control the risk of cyber attack not only on its own platform but also on that of its third parties.
This collaboration therefore allows Treezor to expand its range of services to support its clients (fintech and corporate players) with the integration of two new Mastercard tools into its security ecosystem: RiskRecon and AML Account Risk.
Treezor, active member of the Fraud Fight Club initiative
In April 2023, Treezor announced its commitment to the fight against social engineering fraud by joining forces with the “Fraud Fight Club” initiative, the campaign to fight social engineering fraud launched by Cybermalveillance.gouv.fr and Mastercard, supported by several players in the financial and security world (banks, payment establishments, institutions).
RiskRecon and AML Account Risk, two complementary services offered by Mastercard
The RiskRecon tool effectively assesses cyber risks related to third-party business relationships across the entire attack surface. It allows Treezor to analyze and rationalize the cyber risks incurred by and via its customers, suppliers and partners. By effectively assessing these risks from its business relationships, Treezor prevents and addresses existing vulnerabilities used in cyberattacks. The precise and reliable assessment thus makes it possible to progress in compliance with European DORA regulations.
As for the AML Account Risk tool, it detects money laundering through card transactions more effectively. These two tools are part of the priority given by Europe and France to the fight against money laundering and the financing of terrorism (AML-FT).
Treezor benefits from a preview of this monitoring tool, recently deployed in a pilot phase in collaboration with Mastercard experts. Through daily monitoring of transactions and suspicious activities in risky segments, predictive artificial intelligence (AI) and Machine Learning give Treezor greater accuracy in detecting money laundering on the Mastercard network.
“As a leading technology company in innovation, we are delighted to consolidate our partnership with Treezor by integrating our solutions to further secure its ecosystem. This approach reflects our joint commitment to the fight for the protection and security of data, both in France and internationally. This strengthened collaboration is an illustration of the support we have been providing to fintechs at all stages of development for many years. » , declares Brice van de Walle, general manager of Mastercard France.
André Gardella, CEO of Treezor, says: “ This time again, Treezor and Mastercard are collaborating to put innovation at the service of consumers by strengthening the security system of the platform we support. This ambitious initiative not only meets growing consumer expectations, but also rigorous safety requirements. By combining our efforts, we are raising the bar of excellence to offer an even more secure payment experience to our users! »
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About Treezor: www.treezor.com
Founded in 2016, Treezor is a Fintech regulated by the ACPR and passported in 25 countries as an electronic money institution. Treezor is also a core member of international card networks, such as Mastercard. Acquired in 2019 by the Société Générale group, Treezor is the European leader in Banking as a Service (BaaS) with more than 80 billion in flows processed and 5 million cards issued, as well as an active presence in France, Germany, Benelux, Italy and in the Iberian Peninsula. Its embedded finance solution allows companies to integrate white label payment services into their offering, via very intuitive APIs (from acquisition to issuance). Treezor also brings its regulatory expertise (KYC, AML-FT, etc.) and security to its clients and positions itself as an enabler for all types of unregulated companies or licensed establishments. Treezor has inherited the nickname “Unicorn farmer” having accompanied the emergence of many European payment unicorns.
Follow us on Twitter @TreezorBanking and on our LinkedIn page.
About Mastercard
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive digital economy that benefits everyone, everywhere, by enabling secure, simple, intelligent and accessible transactions. We leverage secure data and networks, our partnerships and passion, our innovations and solutions to empower individuals, financial institutions, governments and businesses to realize their full potential. Present in more than 210 countries and territories, we are building a sustainable world to open up to everyone a horizon rich in priceless possibilities.
Press contacts:
Treezor:
Julie Bentolila - julie.ben-tolila@treezor.com
Omnicom PR Group – france.treezor@omnicomprgroup.com - 06.02.12.60.69
MasterCard:
Lysiane Ahchiow – lysiane.ahchiow@mastercard.com
Oxygen Agency – mastercard@oxygen-rp.com – 06 63 92 23 89