By Oystein Bergmann, Bureau Chief, Scandinavia

Ericsson and a leading provider of Anti-Money Laundering (AML) and Fraud Management Solutions (FMS), INFORM, are collaborating to explore ways of enhancing financial services security.

By combining Ericsson expertise with INFORM’s advanced AML and FMS capabilities, the companies aim to support Ericsson’s global customer base – including Communication Service Providers (CSPs) and enterprises such as banks and fintech (financial technology) companies –  to mitigate financial risks, detect and prevent fraud, and secure  ecosystems.

The collaboration represents a significant evolution of Ericsson’s Mobile Financial Services business, providing cutting-edge tools for combating financial crime in the current complex financial landscape.

Head of Ericsson Mobile Financial Services, Michael Wallis-Brownsays: “Our collaboration with INFORM aims to elevate the value we provide to our customers in the face of increasingly sophisticated threats. As financial crime and malicious activities become more advanced,  utilizing INFORM’s cutting-edge AML and fraud management capabilities alongside Ericsson solutions will help CSPs and enterprises to better detect, prevent, and combat these threats. This potential enhancement would not only safeguard their operations but also support their growth in a secure and resilient environment.”

For more than a decade, Ericsson’s Mobile Financial Services has been one of the leaders in the digital financial and mobile money sectors, supporting more than  114 million active users in 24 countries. It processes more than 36 billion transactions annually,  topping US$ 501 billion. With its open architecture and extensive API offerings, the platform enables rapid deployment and scaling of services, delivering a seamless, secure, and efficient digital financial experience for both digital wallet enterprises, and now even digital banking providers.

Senior Vice President Risk & Fraud at INFORM, Roy Prayikulam says: “We are excited to expand our collaboration with Ericsson to provide our cutting-edge RiskShield platform for Hybrid AI-powered AML and fraud management to their customers worldwide. By combining our advanced analytics and dynamic rule-making capabilities with Ericsson’s extensive reach and expertise in mobile financial services, we are confident that we can help create a safer and more secure financial ecosystem for all.”

More details about the collaboration

This strategic collaboration between Ericsson and INFORM aims to address the growing complexities in the financial services sector, including sophisticated fraud schemes and money laundering tactics that exploit system vulnerabilities.

By utilizing INFORM’s advanced AML and Fraud Management Solutions (FMS), Ericsson seeks to enhance its mobile financial services with dynamic, real-time detection and prevention capabilities, significantly bolstering security.

The collaboration also streamlines vendor management for customers by providing a unified solution that addresses all aspects of the fintech ecosystem.

This reflects Ericsson’s commitment to expanding its ecosystem capabilities, enabling customers to safeguard their financial operations while benefiting from a single, integrated vendor solution.

The collaboration strengthens Ericsson’s service offerings and reinforces its position as a leader in secure and innovative financial services.