MATTR’s TrustTech capabilities reduce risk and fraud, while improving efficiency and unlocking new revenue opportunities.
Risk is an everyday reality for financial services (FinServ) and financial technology (FinTech) organizations. Integrating TrustTech into your operations can protect your brand and bottom line by:
Combating fraud: leverage verified credentials to prevent fraudsters from creating accounts or conducting transactions
Preserving privacy and reducing data risks: selective disclosure and verified credentials allow customers to prove identity with minimal information — whilst limiting your need to collect, retain, and safeguard the personally identifiable information (PII) cybercriminals seek out
Protecting customers: enhance defenses against a range of threats targeting your customers, including phishing, account takeovers (ATOs), and invoice scams
Complying with existing and upcoming regulations: stricter privacy protections are already being encoded in regulations, making high assurance a necessity
The financial services ecosystem runs on processes, making trust and timeliness essential at every scale — from executing a single transaction, to streamlining an organization’s overall operations, to enabling entire schemes and networks. TrustTech empowers you to:
Streamline processes: introduce high assurance digital data/credentials, in place of physical documentation to meaningfully accelerate everyday activities
Lower administrative costs: high assurance digital transactions enable automation of manual workflows
Meet compliance requirements: quickly and cost-effectively satisfy open banking and consumer data rights obligations, while strengthening adherence to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations
The financial services market has always been competitive, and now technology platform players are aspiring to be global Scheme Operators. TrustTech is fast becoming essential for:
Competitive differentiation: stand out in a crowded market with convenient, secure, and privacy-respecting user experiences
Reducing friction: the easier it is to use your products and services, the more your consumer and business customers will do so — improving stickiness and driving transaction fees
Big bets: unlock network-driven revenue by becoming a Scheme Operator — leverage existing evidence-based processes and events to create new high assurance data products
Create new revenue streams with high assurance data products that protect customers and brands.
Anchor trust with onboarding processes for issuers and verifiers
Establish policies and define the rules for all participants
Create wallet or secure app channels for credential holders
Determine the best Credential Profiles for your network and build scale through interoperability
Add more data products(credentials) and capabilities (custodian services, secure confirmation, and more) to build value over time
Create schemes for exchange of value with relying party networks, driving interchange fees with other networks
The risk landscape for FinServ and FinTech organizations is getting worse:
Fraudsters are constantly searching for vulnerabilities in people and processes, with social engineering remaining an effective approach
Cyberattackers are developing new tactics, techniques, and procedures (TTPs) to victimize organizations and individuals
Regulation is creating an ever-higher burden of compliance, often requiring financial services organizations to cover harms
MATTR TrustTech solutions offer a revolutionary approach — combining high assurance data products with new capabilities such as secure confirmation.
Leverage authoritative data about the parties in the ecosystem, signaling in each interaction when it’s safe to transact — and when it’s not.
Shift from “insurer of last resort” to high assurance interactions, reducing costs and strengthening brand equity
Align with open banking concepts, providing confirmation of payee details
Enable improved automation of transactions that start in a lo-fi channel
Unlock the opportunity to provide additional products to enable entire business networks
Our products are simple, accessible and easy to use, and our standards-based digital infrastructure allows you to focus on solving problems that matter to you — while reducing risk and future-proofing implementations.
MATTR's TrustTech solutions gives governments and organizations the ability to unlock high assurance interactions and securely build trust. Get in touch to learn more or try it out for yourself.
Try MATTR capabilities for free and get hands-on experience with our products.
