{"id":14589,"date":"2024-08-02T13:38:17","date_gmt":"2024-08-02T13:38:17","guid":{"rendered":"https:\/\/trustpair.com\/blog\/how-does-trustpair-leverage-data-to-fight-wire-transfer-fraud-by-cyril-rondeau\/"},"modified":"2025-03-25T10:00:18","modified_gmt":"2025-03-25T10:00:18","slug":"how-does-trustpair-leverage-data-to-fight-wire-transfer-fraud-by-cyril-rondeau","status":"publish","type":"post","link":"https:\/\/trustpair.com\/gb\/blog\/how-does-trustpair-leverage-data-to-fight-wire-transfer-fraud-by-cyril-rondeau\/","title":{"rendered":"How does Trustpair leverage data to fight wire transfer fraud, by Cyril Rondeau"},"content":{"rendered":"

Meet <\/span>Cyril Rondeau<\/span><\/a>, Head of Product at Trustpair, building a thriving technology to prevent companies from a major financial and reputational risk : wire transfer fraud!<\/span><\/p>\n

What does Trustpair actually do?\u00a0<\/b><\/h2>\n

Fraud is getting more and more sophisticated nowadays for financial departments that historically relied on internal, manual procedures to check third party banking details. Many of them are slowly but surely getting aware that to be protected, they need new solutions. In addition, digitization is the financial department\u2019s main concern.\u00a0<\/span><\/p>\n

The vision of Trustpair is that within 5 years, mid-caps and large companies that have a large number of third parties to deal with, will have adopted a new generation of datatech solutions that provide gains in risk reduction, productivity, data quality.\u00a0<\/span><\/p>\n

Trustpair develops a SAAS solution that helps companies\u00a0 prevent and detect wire transfer fraud risks. It delivers payment data verification in multiple countries, integrated with the tools and workflows of the Procure-to-Pay processes<\/a>.<\/span><\/p>\n

Why is Data so important?<\/b><\/h2>\n

Trustpair\u2019s clients expect an evaluation of payment risk on a global geographic scope in a timely manner.\u00a0<\/span><\/p>\n

The aggregation and smart use of data allows Trustpair to provide its clients with an evaluation capacity and speed that they do not have today with historical methods.\u00a0\u00a0<\/span><\/p>\n

To produce an evaluation, Trustpair leverages data from multiple sources with a variety of methods.\u00a0<\/span><\/p>\n

    \n
  1. Connection to databases which establishes the correspondence between companies and banking data,<\/span><\/li>\n
  2. Mutualisation of anonymized payment data\u00a0 between customers,\u00a0<\/span><\/li>\n
  3. Unit verification checks with additional data sources.<\/span><\/li>\n<\/ol>\n

    The unique combination of methods is key to the performance of the solution and the innovation brought to the market.\u00a0<\/span><\/p>\n

    How do we make data actionable for our customers ?\u00a0<\/b><\/h2>\n

    Anti-Fraud Solutions is a nascent market, quickly growing, with a high development potential. The equipment rate of businesses does not exceed 16%. Trustpair has a pioneering role to play. Customer centricity, focus, agility are key in this phase.\u00a0<\/span><\/p>\n

    The team needs to tackle a variety of challenges. It needs to build the best evaluation engine, with a broad international coverage. It also needs to make evaluations actionable to clients through a great user experience as well as the integration with the workflows\u00a0 and tools of the Financial departments (Procurement, ERP, TMS).\u00a0<\/span><\/p>\n

    The Trustpair product team has the opportunity and the pleasure of working with customers who have a real appetite for an innovative solution that helps them with their pain point and are ready to spend time with the team to work on the evolution of the service.\u00a0<\/span><\/p>\n

    The development of the product roadmap and functionalities is fed by regular discovery interviews and tests. It is also fed\u00a0 by feedback from the various Truspair teams (Sales, Customer Success, Operations\u2026) as well as internal analytics.\u00a0<\/span><\/p>\n

    For the agile creation and development of product evolutions, we use the <\/span>Shape Up methodology<\/span><\/a>. Customers and internal teams (sales, customer success, operations, general management) provide input for the Shape Up cycles.\u00a0\u00a0<\/span><\/p>\n

    In the context of a nascent market and a major scaling phase of the company , the Product team plays a key role in the company, to shape and share the product vision, suggest a roadmap that responds to and anticipates market needs, prioritize efforts, design features in close proximity to customers, align and focus teams with priorities and messages. There is no time to be bored!<\/span><\/p>\n