We have also significantly strengthened our senior management team and operational infrastructure and will be opening offices in the UK and the US in 2019." Bleckwen's software can also dynamically adapt to ever-changing customer behaviours and profiles. "Working very closely with our customers, which include a tier-1 global bank, we have developed a market-leading, payment-type agnostic, real-time capability to meet their fraud detection and prevention requirements at industrial scale. Using Bleckwen's software, we are seeing false positive ratios drop by over 95%, the time taken to resolve alerts fall by over 50%, and a reduction in fraud loss ratios by over 60% - as compared with incumbent legacy-based rules systems." "This fundraising is confirmation of our 'scale-up readiness' and the support from Ring Capital and our existing investors is testament to our expertise in productising class-leading AI-based analytics in the fight against financial crime for banks. Something else needs to be done and at Bleckwen, we have made tremendous progress over the last two years as part of the Ercom Group, developing solutions to bring the fight to these criminals." Existing technologies are just not cutting it in the fight against this scourge of society. Matt was previously CEO of HiFX, and together he and David successfully scaled HiFX into a world leading international payments company prior to its successful sale to Euronet.ĭavid Christie, Bleckwen's CEO, commented: "Nearly $4 trillion is stolen and laundered through banks annually - circa 3% of global GDP. David is also Chairman of VitessePSP and investor in Shieldpay, bringing with him a wealth of experience implementing and operating both fraud and AML systems in payment businesses.ĭavid is also joined by Matt Knowles, who was recently appointed Chairman of Bleckwen. Over the last year, the company has also strengthened its management team with the hire of David Christie, a 20-year veteran in financial services, previously the COO of Euronet's money transfer business, which included the brands Ria, HiFX and XE. The platform also protects banks from the emergent risks of open banking under PSD2, where banks will no longer have full control of the end-to-end user experience and security perimeter, presenting a completely new threat dimension. The round was led by Ring Capital, a Paris-based venture capital firm and existing investors, including TempoCap, Bpifrance and Ineo, alongside senior management.īuilt with banks, for banks, Bleckwen's real-time, dynamic behavioural analytics & explainable AI-engine is well placed to detect the surging fraud threats in payments, such as authorised push payment fraud or the "human hack" which is growing by circa 60% year-on-year, driven by the surge in real-time payment networks globally. Bleckwen recently spun-off from Ercom, the French cybersecurity firm. The company's expertise is strategically focused on the wider anti-money laundering (AML) and counter-terrorism financing (CTF) context. The funding will be used to support Bleckwen's international expansion and the continued development of the company's exciting software capabilities in AI-based fraud detection. ERCOM members who wish to submit conference data should have a look at the guide at the internal web pages for members only.LONDON, J/PRNewswire/ - Bleckwen, a provider of real-time analytics software for fraud detection & prevention in payments, has come out of stealth to announce a $10 million first funding round. This service is maintained by the Max-Planck-Institut für Mathematik in den Naturwissenschaften (MPI-MIS in Leipzig, Germany). Here you can find a list of conferences organized by the centres represented in ERCOM. For the current list of member institutes, see this web site.Ĭurrently ERCOM is chaired by Professor Ari Laptev, Institut Mittag-Leffler, Sweden. There is an ERCOM map link to add to your site instructions. Welcome to the home page of ERCOM (European Research Centres on Mathematics), a Committee under EMS (European Mathematical Society) consisting of Directors of 27 European Mathematical Research Centres: ERCOM: European Research Centres on Mathematics
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