Cybertonica wins the Best New Back Office Innovation Award at Emerging Payments Awards 2017

9 October 2017
Press Release

Cybertonica team winning Emerging Payments back office award 2017

Global leaders and innovators attended the Emerging Payments Awards, a black-tie event held at the London Hilton on Park Lane on October 5th. Hosted by the Emerging Payments Association, these awards recognise and celebrate the best the payments industry has to offer.

Cybertonica, a leading international AI fraud management company, won the Best New Back Office Innovation Award at the tenth annual Emerging Payments Awards. Cybertonica received the honour in recognition of its thriving AI technology that is committed to grow e/m-commerce businesses and build their customers’ trust.

Joshua Bower-Saul, CEO of Cybertonica, quoted in the press room directly after leaving the stage said:

“This award is a real vindication for a team that has built a world-class machine learning and AI technology in just under three years. In addition, one of the strongest assets of Cybertonica is its multi-cultural and diverse talent pool from 7 countries as well as its agility in entering both new markets and disrupting old ones through creative alliances and partnerships. We are proud to be one of the first start-up members in the scale-up program at the Emerging Payments Association and also to have recently been selected as one of the European FinTech 100 companies. More power to the team and to our CTO Sergey Velts and our dev team around the UK and Europe. And a big thank you to our clients and partners.”

On collecting the award, CTO Sergey Velts, also commented:

“We are delighted to win the Best New Back Office Innovation Award with our innovative approach to building an AI fraud and transaction risk management platform for banks and payment companies. Cybertonica changes the way customers experience payments. It also creates a sophisticated defence against fraud and other risks for e/m-commerce, banking and transaction environments in a compliant and impactful way. We are fundamentally here to make businesses understand and value their customers better, including by respecting their data privacy. We have built this technology in a very capital efficient way and compete with others who have spent tens of millions more trying to build similar systems. Specialists and clients tell us that none are as flexible and effective as ours while we are offering features that even major players do not provide.”

Emerging Payments Awards 2017 rewarded PayTech and FinTech innovators in 20 different categories. AmazonPay, Apple and the Post Office were among the big winners at the awards.

Tony Craddock, Chairman of Emerging Payments Awards, said:

“Every year the quality of entrants to the Emerging Payments Awards goes from strength to strength. Now in our tenth year and one of the annual highlights of the FinTech calendar, we’re thrilled to see so much innovation from the UK and further afield as FinTech continues to push into the mainstream, making a real difference to consumers’ lives around the world.”

About Cybertonica:

Cybertonica uses Machine Learning and Artificial Intelligence to reduce basket drop-off and increase conversion for all channels of e-payments and transaction platforms. The Company provides frictionless on-boarding, checkout and secure payments processing for e-commerce and digital banking. Cybertonica’s service increases conversion and sales by up to 25% while managing card-not-present and other categories of fraud at world-class compliant standards.

The Company was named as the Best New Back Office Innovation at the Emerging Payments Awards 2017, selected as one of the European FinTech 100 companies, and identified among the 2017 top cybersecurity AI companies by CB Insights.

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