San Francisco, California, Aug. 13, 2024 (GLOBE NEWSWIRE) -- 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.
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About Effectiv
Effectiv provides real-time risk decisioning, empowering businesses to stay ahead of evolving threats. Through its flexible risk-based decisioning platform and partnerships with leading data vendors, Effectiv enables companies to implement robust, adaptable fraud prevention strategies. For more information, visit effectiv.ai.
About Paycor
Paycor's human capital management (HCM) platform modernizes every aspect of people management, from recruiting, onboarding, and payroll to career development and retention, but what really sets us apart is our focus on leaders. For more than 30 years, we've been listening to and partnering with leaders, so we know what they need: a unified HR platform, easy integration with third party apps, powerful analytics, talent development tools, and configurable technology that supports specific industry needs. That's why more than 30,000 customers trust Paycor to help them solve problems and achieve their goals. Learn more at paycor.com.
