(March 30, 2017 – Hong Kong) Being a global leader in brand protection, Austreme is pleased to announce that its Transaction Laundering Detection (TLD) is honored the Hong Kong ICT Awards 2017 – Best Smart Hong Kong Award (Open Data / Big Data Application).
The Hong Kong ICT Awards was established in 2006 with purposes in fueling technology innovation and building a platform of expertise exchange. The Best Smart Hong Kong Award in Open Data / Big Data Application is one of the award streams that it recognises the outstanding achievements in the use of advanced analytics techniques in the process of examining a variety of data types from all different capturing channels to discover the hidden patters, correlations, market trends and other useful information which lead to improved operational efficiency and risk management.
Austreme TLD is a comprehensive online merchant compliance monitoring technology. It helps banks and Payment Service Providers (PSPs) to ensure that their online merchants are complying card scheme’s rules such as Visa, MasterCard and UnionPay. Making use of Austreme’s self-developed Big Data and detection technology correlating 24 x 7 non-stop from payment card transactions, e-commerce websites and fraud data, it helps monitoring payment and e-store activities related to targeted online merchants. Austreme’s detection report helps risk and fraud management executives of banks and PSPs to take proactive actions against any illegal merchant activities such as unauthorized transaction aggregation or other illegal sales of goods such as prohibited drugs, images of offensive or non-consensual adult pornography, counterfeits, illegal electronic devices and illegal gambling. Currently, Austreme’s ever-growing big data cover over 29 million of websites globally with bank and PSP customers around the world. Austreme is also MasterCard’s registered Merchant Monitoring Service Provider (MMSP) with benefits for banks who use Austreme TLD service will avoid heavy penalty. Austreme is the world’s first and the only Merchant Monitoring Service Provider with self-developed technology and infrastructure that obtained Payment Card Industry Data Security Standard (PCI-DSS) compliant certification.
“It is our honor receiving the Best Smart Hong Kong Award in Big Data Application stream. It is the recognition for our achievements to serve the payment industry. We will continue devoting our efforts in developing advanced risk and fraud management technologies in the payment, brand protection and big data areas,” said Terence Chau, Founder & CEO of Austreme.
Austreme is an industry leader in brand protection, helping brand owners, acquiring banks and payment service providers monitor and detect online merchants’ illegal and brand-damaging transactions under international card associations’ global brand protection program. We provide a wide range of financial risk management services for customers globally, specializing in big data analytics, anti-transaction laundering, online store illegal content monitoring and merchant onboarding. For more information about Austreme, please visit www.austreme.com. More about Transaction Laundering Detection Solution can also be found at www.austreme.com/transaction_laundering.html.