New platform to fight bank transfer fraud
Hundreds of millions of euro are lost each year to bank transfer fraud, which is on the rise. Studies show that over half of fraud committed is supplier fraud. The EU-funded COBAFRA project will assist in commercialising a collaborative platform designed and created by CFOs and treasurers, My Sis ID. Highly secure, it has no payment system, and its interface addresses the identity part of the payment process. The platform integrates with existing customer and supplier systems, and, by integrating artificial intelligence and blockchain into its solution, the platform benefits both customers and suppliers: customers can invite their suppliers onto the platform and suppliers can invite their customers. No similar solution currently exists.
Fields of science
Call for proposal
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