First neo cooperative in Costa Rica, WINK reinforces platform security with SHIELD

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Feb 08, 2024, 13:00 ET

The fintech leverages SHIELD Device Intelligence to eliminate fraudulent activities in real time and build trust

SAN FRANCISCO, Feb. 8, 2024 /PRNewswire/ -- WINK, the first neo cooperative in Costa Rica, announces a partnership with SHIELD, the device-first risk intelligence company. The goal is to combat fraud and ensure a secure and reliable financial services platform.

Owned by Coopenae, one of the country's largest financial institutions, WINK is 100% digital, with no bank branches. Aware that fraud is growing quickly online, they adopted a zero-tolerance approach to fraudsters. The fintech chose to use SHIELD Device Intelligence, a cutting-edge AI powered technology, to stay ahead of risks and build trust in its ecosystem.

WINK leverages SHIELD's technology to continuously monitor tens of thousands of device, network, and behavioral data points in real time in order to create a risk picture. No Personal Identifiable Information (PII) is required, and it prioritizes privacy while fully complying with General Data Protection Regulation.

With the solution in place WINK can tackle all fraud threats that impact the fintech industry. The technology supports them in identifying fraudulent devices used to create fake accounts, preventing promo abuse and money laundering. It also helps them to pinpoint malware and malicious tools associated with fraud - thus addressing the issue of fraudsters exploiting accessibility permissions to conduct account takeovers.

Diego Loaiza, director at WINK, said, "Our mission is to provide a reliable and 100% digitized financial experience. The partnership with SHIELD has been essential because it detects and eliminates fraud attempts in real-time and allows WINK to build trust with our users by ensuring a secure platform."

Justin Lie, founder and CEO of SHIELD, added, "We know that fraud is a challenge for fintechs and that security is essential for customers to trust digital platforms with their investments. We are honored to help WINK ensure a reliable mobile service."

About WINK

WINK is the first Neo Cooperative in Costa Rica and a digital financial services platform owned by Coopenae, a cooperative with over 50 years of prosperity.

It is the opportunity to break physical boundaries in the financial world. Time is the only thing we really have, so WINK focuses on enabling more people to spend it on what they want (which is definitely not waiting in line anywhere).

The digitization of financial services is an opportunity to give people back their time while enjoying an end-to-end efficient service. For more information, visit: https://holawink.com/

About SHIELD

SHIELD is the world's leading risk intelligence company that helps global organizations like inDrive, Alibaba, Mobile Premier League (MPL), TrueMoney, and Maya stop fraud, build trust, and drive growth.

SHIELD's solution is powered by artificial intelligence to help all online businesses stay ahead in detecting new and unknown fraud.

With offices in San Francisco, Miami, London, Berlin, Jakarta, Bengaluru, Beijing, and Singapore, we are rapidly advancing our mission to foster trust in the world. For more information, visit https://shield.com/.

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Desmond Wong
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SOURCE SHIELD