San Francisco, California, Aug. 13, 2024 – Effectiv, the leading fraud and risk decisioning platform, is proud to announce a successful collaboration with Paycor (Nasdaq: PYCR), a leading provider of human capital management (HCM) software. Using machine-learning, Effectiv enabled Paycor to enhance its risk management capabilities by intelligently flagging suspicious activity at scale, helping safeguard financial data for Paycor’s growing customer base.
Since implementing Effectiv’s platform in March 2024, Paycor has already achieved a 2X ROI within the first three months. Paycor leverages Effectiv’s risk decisioning platform, which offers flexible controls, rules, ML models, and policies to address evolving fraud threats and verify bank account changes through Effectiv’s data intelligence marketplace.
“Effectiv’s solution stood out for its flexibility and robustness,” said Joe Maurits, Director of Compliance at Paycor. “Their platform’s ability to adapt to new threat vectors without extensive re-coding, combined with their partnerships with multiple validation vendors, provides us with the agility and coverage we need to protect our clients effectively.”
Key benefits include:
Rapid Deployment: Paycor went live with Effectiv in less than one month after inking the deal.
Enhanced Account Validation: By using Effectiv’s network graph functionality, Paycor can more effectively pinpoint suspicious activity and proactively prevent fraudulent account takeovers, providing greater protection for both Paycor and its clients from substantial financial losses.
Agile Solution: The flexible nature of Effectiv’s solution enables Paycor to quickly adapt to new fraud trends and threats by allowing the risk team to confidently change existing strategies with A/B and back-testing capabilities.
Ravi Sandepudi, Co-Founder and CEO at Effectiv, commented, “Our mission is to provide robust and adaptive fraud prevention solutions that integrate seamlessly and evolve in lock-step with new tactics used by fraudsters. The remarkable success with Paycor highlights our commitment to protecting businesses from financial crime, and we are excited about the future potential of our collaboration.”
Paycor plans to integrate Effectiv’s solutions further, including implementing real-time Know Your Client (KYC) and device intelligence to further enhance risk mitigation capabilities.
