New partnership aiming to change the way we detect financial fraud today - Digital Platformer and Partisia

New partnership aiming to change the way we detect financial fraud today -  Digital Platformer and Partisia

By Sofie Krabbe,

Partisia Platform, Confidential Computing, partnership

When discussing fraud and its significant impact on the world and our daily lives, the conversation often focuses on fintech, fraud detection and particularly areas like money laundering, tax embezzlement and other criminal activities.

The discussion around fraud and the ability to detect it in finance has gained significant importance, especially in recent years, as those committing fraud have become increasingly sophisticated.

Together in a close partnership, Partisia are joining forces with the Japanese company Digital Platformer. Both companies are market leaders within their fields, Digital Platformer a pioneer in Decentralised solutions for the financial sector and Partisia an innovative tech company and a pioneer within Multiparty Computation. 

Our mutual goal is to create the next generation of financial fraud detection that brings in confidential data across banks and other financial institutions to prevent fraud in finance while ensuring that the data remains fully protected.

Changing the status quo in the way we detect fraud today

While financial fraud is orchestrated by bad actors across many banks, the regulation requires individual banks to discover and detect fraud. This is a fundamental problem and the solution is to ensure that the good actors collaborate and collectively map the financial fraud is paramount to stay ahead and prevent fraud. This partnership brings together insights across Japan and Europe to do exactly that.
Kurt Nielsen CEO, Partisia

Across the globe, especially in the digital age, people struggle to navigate both control and privacy of sensitive data. Informed consent has become a significant concern over the past few decades. Consequently, laws such as GDPR and the upcoming AI Act are designed to protect individual users.

Although these laws are crucial and necessary, they complicate fraud detection since banks are constrained in  sharing client information. When banks suspect fraud, they must contact public authorities, who then have to connect the dots using only the data they can gather independently. 

Since fraud is often only partially detected by single banks, other banks may unknowingly accept fraudulent transactions. In fact, the lack of data sharing may cause many cases to go cold.

As a result, valuable insights and knowledge about behavioural patterns and red flags are often missing from their data library due to a lack of historical data. 

This partnership aims to change that

By combining the expertise and know-how of both Digital Platformer and Partisia, we are developing a tool that perfectly balances privacy and transparency. Utilising multiparty computation technology, we are creating a platform that enables secure data sharing among different banks within a vast network while preserving confidential and personal data.

Our work is groundbreaking for the financial sector, as it allows banks not only to detect fraud in real-time but also to predict future fraudulent activities. This will save substantial amounts of money and time. The best part is, with every logged activity, our system becomes smarter.
Mark Medum Bundgaard CPO, Partisia
Partisia is a cutting- edge startup from Aarhus University in Denmark, leading the world in cryptography technology and MPC. At Digital Platformer; we are driven by two key missions: to eliminate the cost and time of money transfers, and to globally expand the foundation of DID and VC. We provide a robust foundation for stable-coins and ID solutions. Improving usability and security, particularly in managing blockchain private keys, has been a significant challenge in deploying our DID/VC foundation. Our partnership with Partisia is expected to resolve these issues. This collaboration will bolster our position as a top player in the DID/VC space and facilitate our expansion into Europe and other international markets.
Ikkei Matsuda CEO of Digital Platformer

Both Partisia and Digital Platformer are excited about this partnership and the transformative potential it holds for the financial industry. 

We believe this collaboration will not only drive innovation but also set new benchmarks for quality and service. We are confident that our combined expertise and resources will lead to groundbreaking solutions.

Interested to know more? Don’t hesitate to reach out and learn more about this collaboration. 

For further information or inquiries, please find the contact information below.

Together, we are entering a journey towards a brighter, more innovative future.

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About Digital Platformer:

Digital Platformer, founded in Tokyo in 2020, a pioneering fintech company with significant track record in blockchain technology in Japan, We provide municipalities and businesses with digital regional promotion vouchers and decentralized ID (DID) insurance platforms, and Japan’s first deposit-based stable coin issuance technology.

Since 2023, we have been developing a new consortium-based blockchain platform designed to meet the diverse needs of local governments and enterprises.

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About Partisia: 

Partisia is a global pioneer in Multiparty Computation (MPC) and privacy-preserving computations. Partisia has sold commercial-grade MPC software solutions since 2008 with an initial focus on secure high-stake auctions used for trading energy and spectrum licenses. Today Partisia’s MPC solutions are sold as infrastructure across a variety of services from key management, data activation, statistics, voting, e-cash etc. The commercial activities include spinouts like Sepior that was recently acquired by Blockdaemon, and Partisia Blockchain Foundation, a Swiss foundation that organizes and launches a public blockchain built by Partisia.

Partisia is a privately owned company registered in Denmark. The ownership combines internationally renowned experts in advanced cryptography, software and business development.

Reach out

Mark Medum Bundgaard

Mark Medum Bundgaard

CPO, Partisia