AI-based fincrime startup Tangos raises $20 million

Better fraud protection is coming to your point-of-sale. Tangos AI just raised $20 million to expand its financial crime prevention platform. For retailers, this means more accurate approvals and fewer fraudulent chargebacks. The platform uses advanced AI to analyze transaction data in real-time. It targets complex financial crimes that older systems often miss. Identity theft and credit application fraud are rising costs for merchants. When a lender declines a good customer by mistake, you lose the sale. When they approve a fraudster, you deal with the administrative headache. Tangos aims to solve both problems. Their technology helps lenders distinguish between high-risk bad actors and legitimate customers. This leads to higher approval rates for your shoppers. As financing becomes more digital and instantaneous, the window for fraud grows. New tools like this are essential for maintaining smooth checkout flows. Better fraud detection behind the scenes keeps your customer experience fast and friction-free. You don't want your customers jumping through extra security hoops. AI-driven security handles the heavy lifting without slowing down the transaction.

Source: Finextra — Lending

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