ATLANTA, Oct. 24, 2019 — Atlanta-based fintech DataSeers, Inc. today announced a partnership with Central Payments, the South Dakota-based payments division of Central Bank of Kansas City, to expand the bank’s end-to-end use of big data and streamline data flow for fintechFintech is a term used to describe financial technology. This often refers to the innovative use of technology to provide consumers and businesses with financial services. This can include banking, payments, investments as well as insurance services. Modern Fintech companies use digital platforms, data analytics and automation to offer an efficient and user-friendly solution to their clients. More partners in the payments ecosystem.
Central Payments will use FinanSeer, DataSeers’ premier SaaS, to clean, prep, and analyze transactional data before conducting full data reconciliation, complianceCompliance is used to refer to the adherence to laws, regulations and industry standards within a specific business or financial context. Compliance can involve implementing policies and procedures to ensure that an organisation and individuals within an organisation operate within legal as well as ethical boundaries. More scans, fraudFraud is defined as a deliberate and deceptive act carried out with the intent to gain an unfair or unlawful advantage. Fraud is mostly associated with deceit, misrepresentation or concealment of information in order to gain a financial advantage and personal gain. The term fraud encompasses a wide range of dishonest activities, including but not limited to creating false statements,... More detection, and 360-degree analytics. FinanSeer uses both machine learningIs a particular sector within Artificial Intelligence that programs a machine to comb through vast swathes of data and make decisions and insights based on that with very little human intervention. More and proprietary AI algorithms to identify, resolve, and prevent issues directly tied to data complexity. It handles multiple data sources, co-relating the information and providing actionable intelligence.
“This partnership couldn’t come at a more perfect time,” says DataSeers CEO, Adwait Joshi. “FinanSeer’s new and updated version, 2.0, is preparing for release as we speak. We are excited to launch the new version alongside the beginning of this promising business relationship.”
“Connecting our CPX open APIOpen API (Application Programming Interface) is a set of rules and protocols that makes it possible for different software applications to communicate with each other. Open APIs are available to developers and help the creation of third-party applications or services. More platform to multiple providers to offer our partners choice in all major functions required us to manage and normalize vast amounts of divergent data so we can efficiently perform our function as an issuer,” said Trent Sorbe, Founder and President of Central Payments. “DataSeers’ solution will be an integral to the success of CPX and our objective to empower our partners to focus on user experience and customer acquisition while we provide a leading banking-as-a-service platform.”
The FinanSeer 2.0 release marks a great improvement for an already impressive product. Version 2.0 is not only more than 10x faster than the previous release, but the software’s algorithms have matured over time, offering even greater levels of efficiency and security. DataSeers has added a host of additional features including a new UI, better security and encryptionThe technique of scrambling sensitive data automatically in a terminal or computer before transmission for security purposes using an algorithm and key. More standards, and full integration with LexisNexis Risk Solutions on KYCKYC stands for “Know Your Customer”. In banking, it is a process by which banks obtain information about the identity and address of the customers. This process helps to ensure that banks’ services are not misused. A regulated process of verification of a customer’s identity, including the collection of customers’ Proof of Identity (POI) and Proof of Address (POA) to... More/KYB, PEP, sanctionsSanctions are any restrictions or penalties imposed by governments or international bodies on entities, countries, regions or individuals in order to achieve foreign policy or security objectives. Sanctions can include travel bans, asset freezes, arms embargoes, and trade restrictions. More and OFAC, and more. This valuable partnership with one of America’s most trusted database corporations has allowed DataSeers the ability to offer exemplary data services, exceeding the capabilities of any of its competitors.
About Central Payments and Central Bank of Kansas City
Central Payments operates as the payments division of Central Bank of Kansas City (CBKC) and administers debit/prepaid card and funds disbursement programs with some of the most recognized companies and fintechs in payments. As an early adopter of banking-as-a-service, Central Payments has ascended to the fastest growing prepaid cardA Prepaid Card is a payment card that has been preloaded with a specific amount of money. The balance can then be spent until it is exhausted, which is a more convenient and budget-friendly alternative to credit or debit cards. More issuer since 2015. The recent announcement of the organization’s new CPX open-API platform and its launch of the Falls Fintech accelerator solidifies Central Payments as a leader in bank-fintech partnerships. Visit Central-Payments.com for more information. Member FDIC.
About DataSeers
Atlanta-based DataSeers has engineered a unique solution for effectively harnessing complex data. Its FinanSeer software is AI-powered and specifically designed to help banks and payments companies greatly improve their reconciliation, complianceCompliance is used to refer to the adherence to laws, regulations and industry standards within a specific business or financial context. Compliance can involve implementing policies and procedures to ensure that an organisation and individuals within an organisation operate within legal as well as ethical boundaries. More, fraudFraud is defined as a deliberate and deceptive act carried out with the intent to gain an unfair or unlawful advantage. Fraud is mostly associated with deceit, misrepresentation or concealment of information in order to gain a financial advantage and personal gain. The term fraud encompasses a wide range of dishonest activities, including but not limited to creating false statements,... More detection and analytics. In 2018, DataSeers was recognized by the Technology Association of Georgia as one of its “Top 40 Technology Companies.” LexisNexis has also awarded DataSeers for creating a “Truly Unique Solution” which utilizes their HPCC technology. Most recently, DataSeers was among Atlanta Inno‘s 2019 “50 on Fire” companies in Georgia. For more information, visit www.dataseers.ai or follow it on LinkedIn, Twitter, Facebook and Instagram.