Nethone, a Mangopay company, wins Fraud Prevention accolade at FinTech Breakthrough Awards

March 14 2024; Paris, France - Nethone, a Mangopay company, has been recognised for its industry-leading cybersecurity solution, winning a FinTech Breakthrough Award.

Facing strong competition from more than 4,000 global nominations, Nethone was named Best Fraud Prevention Company at the 2024 awards.

The FinTech Breakthrough Awards aim “to perform the deepest evaluation of the comprehensive FinTech sector, and then recognize the creativity, hard work and success of these innovative FinTech companies, technologies, and products around the world”.

Nethone’s proprietary AI-driven technology solves fraud challenges for global financial institutions, platforms, and marketplaces, including brands such as Vinted, ING, Wallapop, BlaBlaCar, and Ratepay. Its advanced monitoring and blocking techniques protect against over 100 types of fraud risks, including network anonymization, remote access tools (RATs), bots, account takeover and jailbroken devices.

With first-hand fraud intelligence, Nethone can reverse engineer fraudsters' tactics and adapt their risk detection system to existing and emerging fraud trends.

Mangopay, a modular and flexible payment infrastructure provider for marketplaces and platforms, acquired fraud detection and prevention specialists Nethone in 2023 to strengthen its offering to clients, adding proprietary cybersecurity technology, expertise and intelligence.

Maciej Pitucha, Mangopay’s VP of Product and Data, responsible for the group’s fraud prevention solutions, said: “We are thrilled to win this award and receive this recognition at what is a crucial time in the fight against fraud.

“Losses from fraud were estimated to be worth more than $38 billion globally last year and are forecast to rise to $91 billion by 2028, so it’s never been more important for ecommerce companies to go the extra mile to protect their business and their users.

“Mangopay's fraud prevention solution, powered by Nethone, provides the payments industry with a modularized approach that offers end-to-end protection at every step of the user journey from login to post-payment, giving clients and partners peace of mind.”

About Mangopay

Created in 2013, Mangopay empowers the platform economy with its modular payment infrastructure. Built around its programmable e-wallet solution, Mangopay’s end-to-end infrastructure covers platform payment needs, from pay-in to payout, for many platform business models and workflows. In March 2023, Mangopay was named “Best Platform and Marketplace Provider” at the Merchant Payments Ecosystem (MPE) Awards for providing best-in-class payment services to marketplaces and platforms and in October 2023 it was named one of FXC Intelligence’s most promising cross-border payment companies. www.mangopay.com

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