DENVER– Juniper Payments, a Velera company, said it has made a new addition to its Payments Hub: an embedded artificial intelligence (AI)-driven fraud prevention engine built to “meet the needs of modern financial institutions and encourage broader adoption of instant payments.”
The announcement was made in conjunction with VeleraLIVE, taking place this week in Denver.
In a statement, Velera said that as the largest cloud-based, non-bank third-party provider of interbank transaction and reporting systems in the U.S., Juniper Payments is taking a “proactive stance against increasingly sophisticated fraud schemes by integrating cutting-edge AI and machine learning (ML) capabilities directly into its platform.”
‘Real-Time Fraud Protection’
According to the company, the new enhancement delivers real-time fraud detection at the point of origination and processing, “empowering financial institutions to confidently expand beyond receive-only status and activate send functionality for instant payment rails like FedNow and RTP.’
In addition, Velera said the new offering adds risk-scoring capabilities across traditional payments, including wires and, ultimately, ACH and cross-border payments.
‘Rapidly Evolving’
“The fraud landscape is rapidly evolving, with bad actors leveraging automation, generative AI, synthetic identities and phishing schemes at scale,” Jon Budd, CEO of Juniper Payments, said in a statement. “Traditional defenses won’t keep up. With our embedded AI fraud engine, we’re enabling real- time detection and decisioning, giving financial institutions the confidence to not only protect their assets, but to fully participate in the next generation of faster and instant payments.”
Velera said Juniper’s Payments Hub streamlines a full spectrum of payments operations, including origination, beneficiary account validation, risk management, reporting and processing, by managing the rails for automated payment delivery and receipt via Juniper Payments-connected rails to the Federal Reserve, The Clearing House and FX gateways – all within one online platform.
“The system reduces operational friction, accelerates transaction posting, enhances transparency and improves funds availability, providing more predictive cash flow for both consumers and businesses,” Velera added.
Detects Subtle Patterns
It further noted that the addition of AI-powered fraud tools enhances both accuracy and adaptability.
“By analyzing large volumes of transactional and behavioral data in real time, the platform can detect subtle patterns that indicate fraudulent activity while minimizing false positives,” Velera said. “The result is faster decisions, better protection and smarter automation that evolves alongside emerging threats.”
What Case Study Showed
According to Velera, a case study utilizing these fraud tools saw the following results:
- 90% reduction in account takeovers and false positives, respectively
- 82% reduction in first payment defaults
- 73% reduction in fraud overall
“This is more than just fraud protection – it’s a catalyst for progress,” Budd added in a statement. “Many financial institutions have been hesitant to flip the switch on full instant payment functionality. Our new solution provides the assurance they need to move forward with confidence, knowing they can protect their customers while staying competitive in a digital-first payments world.”
For info: juniperpayments.com/juniper-funds.