MoneyGram has announced a strategic partnership with Oscilar to build its next-generation risk infrastructure, selecting Oscilar’s “AI Risk Decisioning Platform”. The collaboration is a key part of MoneyGram’s “AI-first strategy” and will unify its fraud, Anti-Money Laundering (AML), and compliance operations onto a “single, scalable platform”.
The core of the partnership is the deployment of a new technology called “Cognitive Identity Intelligence.” This is defined as “real-time digital identity authentication that analyzes thousands of behavioral and device markers” to proactively defeat fraud.
The partnership represents a shift in how financial services firms approach identity verification for risk management. Traditional KYC/AML processes verify a customer’s identity at onboarding using government-issued documents. The “Cognitive Identity Intelligence” model analyzes device fingerprinting and behavioral signals continuously and in real-time, creating a composite identity profile based on multiple data points rather than static credentials.
MoneyGram has been expanding its digital infrastructure in recent years. The company operates in over 200 countries and processes billions in transactions annually. The financial services sector has increasingly adopted AI-powered fraud detection as traditional rule-based systems struggle to keep pace with sophisticated fraud schemes.
Oscilar’s platform will enable MoneyGram to analyze behavioral patterns, device characteristics, and transaction data in real-time to assess risk across its global network.
Sources: PRNewswire
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By the ID Tech Editorial Team
