Provenir has announced the implementation of its risk decisioning and data sciences platform with YapStone, an international Payments-as-a-Service (PaaS) solution provider. To date, YapStone has implemented the Provenir decisioning engine for its Know Your Customer (KYC), Anti Money Laundering (AML), and fraud and risk assessments.
Bruce Dragt, EVP of Product at YapStone said “YapStone maintains a competitive edge by mitigating risk for its marketplace partners in real-time while assuming the liability for each transaction. Provenir also proved they could provide high levels of automation for merchant onboarding while supporting real-time, low-latency processing. Their no-code, visual tools made it very easy for us to design and configure our business process and go live quickly”.
Paul Thomas, Managing Director, Provenir said “YapStone is operating in a burgeoning economy where large global marketplaces are growing at an overwhelming pace. The growth of these marketplaces has exponentially increased the opportunity for YapStone as a marketplace payments service provider that can underwrite a large volume of payments and bear the liability while its partners focus on growth.”