Case Study

TrueMoney Leverages SHIELD Risk Intelligence to Stop Fraud and Build Customer Trust

‍Financial Services
Southeast Asia
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TrueMoney is Southeast Asia’s leading electronic payments and digital financial services provider. Operated by Thailand’s first fintech unicorn Ascend Money, TrueMoney provides financial services to users in Thailand, Cambodia, Myanmar, Vietnam, the Philippines, and Indonesia. 

Key Takeaways

• 24 million TrueMoney users shielded

• Fraudsters stopped before they commit fraud

• End-to-end protection throughout the user journey

TrueMoney's Goal

The TrueMoney e-wallet today has over 24 million users and counting. As public awareness of contactless transactions in the region continues to rise, this number is expected to skyrocket over the next few years.

During this period of rapid growth, ensuring that the e-wallet platform remains safe for its users is of utmost importance to the TrueMoney team. As a result, TrueMoney has established a technology partnership with SHIELD, the world’s leading risk intelligence solution, to strengthen their trust and safety strategy. 

This case study examines how SHIELD and True Money's technologies work together to protect the TrueMoney platform from end to end, enhance trust for their mobile users, and drive continued growth in Southeast Asia.

"Customer trust is our top priority and SHIELD is the best technology to guarantee this."
Monsinee Nakapanant
Co-President, Ascend Money
"Customer trust is our top priority and SHIELD is the best technology to guarantee this."
Monsinee Nakapanant
Co-President, Ascend Money

Leveraging AI to Stop Fraudsters

At the core of the technology partnership is Enterprise AI, SHIELD’s enterprise-grade fraud prevention technology. Its AI engine combines neural networks with symbolic AI to detect new and unknown fraud patterns that other solutions miss. This empowers TrueMoney to protect their users at every step of the customer journey.

Monsinee Nakapanant, Co-President of Ascend Money, the operator of TrueMoney, commented, “Customer trust is our top priority and SHIELD is the best technology to guarantee this. We look forward to working with SHIELD to ensure our platform remains safe and secure as TrueMoney expands.” 

Building Trust and Safety Throughout the TrueMoney Ecosystem

TrueMoney is leveraging several key SHIELD features to continue providing trust and safety to their users.

The SHIELD ID: persistently identifies every single user and device across ecosystems

The SHIELD Risk Indicators: uncovers the tools and techniques used to commit fraud

SHIELD Sentinel: isolates the exact moment malicious behavior manifests

Link Analysis: evaluates multidimensional features to identify coordinated fraud attacks

Feature Platform: creates sophisticated models and risk policies tailored for enterprise and regulatory business requirements

Leveraging a Global Network of Intelligence

The technology partnership also involves leveraging the Global Intelligence Network, SHIELD’s continuously updating fraud library that protects its growing user base from all new and unknown fraud threats.

Monsinee added, “By leveraging SHIELD’s expertise to strengthen our trust and safety strategy, we can spend more time fulfilling our mission to create a financial platform that enables everyone access to innovative financial services leading to better lives."