Swiss banking and brokerage company Swissquote has signed a partnership agreement with NetGuardians to strengthen its security measures.
The partnership, aimed at combating financial crime, will allow Swissquote to use NetGuardians' artificial intelligence-based software to track all company transactions, including the Yuh mobile app.
NetGuardians will help Swissquote track all types of fraudulent payments, including APPs, and comply with anti-money laundering (AML) regulations, according to NetGuardians' website.
It's predicted that total global app fraud will reach $5.25 billion by 2026, so financial companies have recently been looking to strengthen anti-fraud measures to protect not only their funds but also their clients' savings.
We previously reported that Swissquote had return interest on clients' trading accounts.
Swissquote was founded in 1996 and has offices in many major cities around the world. Its activities are regulated by FINMA, which indicates a high level of reliability. In 2019, the company began to actively explore the cryptocurrency market, and in 2020 it opened its own cryptocurrency exchange, SQX, which greatly facilitated its clients' access to digital assets.
