Automating Fraud Prevention in B2B Credit
Bectran's Alliance with Ekata by Mastercard to Provide Seamless Identity Authentication for Trade Credit Operations
From a Press Release Dated December 9, 2024, Schaumburg, Illinois
Bectran Inc. has partnered with Ekata by Mastercard to enhance fraud prevention in B2B credit operations, addressing the growing challenge of business identity theft. This collaboration integrates Ekata’s advanced identity verification technology into Bectran’s credit and accounts receivable platform, enabling credit departments to efficiently combat identity fraud while maintaining operational efficiency.
The rise of identity fraud in trade credit, often involving sophisticated schemes like stolen personal identification paired with shell companies, has made detection increasingly difficult and resource-intensive. Traditional methods are often too costly and time-consuming to effectively prevent such scams.
“Ekata provides exceptional intelligence and data for verifying identities, locations, businesses and blacklists” comments Ali Kidwai, Sr. Manager of Product & Implementation at Bectran. “Partnered with Bectran’s capabilities for automating credit review and approval, those verifications give departments an incomparable dynamic edge for keeping bad actors out seamlessly.”
Through this partnership, Bectran leverages Ekata’s low-friction risk insights to verify applicant identities and business validity in under 100 milliseconds. Key checks include matching applicant details (name, address, phone), validating email domains and business locations, and assessing suspicious discrepancies like mismatched IP and business locations. Suspicious transactions are automatically flagged for review, with actionable risk ratings integrated into Bectran’s automated risk scorecards. This streamlined approach allows credit teams to focus on strategic risk management while relying on accurate and efficient fraud detection.