How it Works.
A transaction enters the system and is simultaneously evaluated through various channels, each with its own set of criteria. After passing through these criteria, the transaction is categorised based on known risk patterns. Finally, the system assigns a risk score to the transaction, representing its potential threat or suspicious nature. The higher the score, the more attention the transaction might require. This setup ensures comprehensive and efficient risk assessment for every transaction processed.
As an open-source software, Tazama offers several advantages:
Accessibility
Freely available, Tazama eliminates financial barriers for low- and middle-income countries, enabling them to safeguard their citizens' financial well-being.
Transparency
The open-source code allows for scrutiny and collaboration, fostering trust and continuous improvement within the development community.
Scalability
With the collective effort of the open-source community, Tazama can evolve to handle ever-increasing transaction volumes, ensuring its long-term effectiveness.
The Genesis of Tazama.
Developed under the aegis of the Linux Foundation, Tazama has its roots in a philanthropic vision. The shared goal is clear; to democratise financial services and ensure that even the most underserved communities have access to them. The commitment of these entities to financial inclusion reflects an understanding that accessibility to financial services is a cornerstone of economic prosperity.
The reasoning behind using an open-source transaction monitoring system to achieve their goal, is that it is typically the most expensive, complex, and hardest component to implement in an overall Fraud Risk Management System (FRMS). The successful launch of Tazama is not just a technological triumph, it embodies the spirit of open collaboration and shared knowledge.
Sybrin: Engineering Financial Inclusion.
As the engineering team behind Tazama, Sybrin had the privilege to partake in this amazing project. Not only did we craft a state-of-the-art system, but we also seamlessly integrated it within our own expansive product offering.
Our suite of services is a testament to our holistic approach to financial technology, from identity proofing with advanced Web and Mobile SDKs, to solutions that conform to regional onboarding and KYC activities.
"With the integration of Tazama, Sybrin's product ecosystem has been greatly enriched, fitting snugly under Fraud Risk Management technology stack. It enhances our company's ability to offer comprehensive case management and fraud detection services, crucial to maintaining the integrity of financial transactions."
Barrie Venter
Product Manager
Tazama in the Sybrin Ecosystem.
While Tazama serves as a cornerstone for fraud detection, Sybrin offers a comprehensive suite of services that can further strengthen financial institutions’ risk management and compliance efforts:
Identity Verification:Liveness, Selfie Capture & Compare
Prove the physical presence and biometric liveness of a person, for remote interactions, with the combined use of image processing techniques and neural networks using only a selfie.
view solutionsIntelligent Document Capture & Extraction
Our ID Capture product enables the rapid capture and extraction of ID cards, passports, and other identity documents via mobile and web API.
view solutionsDocument Fraud Detection
A robust solution for scrutinising identity documents to detect and prevent fraud through advanced verification and analysis techniques.
view solutionsIdentity Name Screening
Automatically perform real-time screening against global sanction lists and watchlists using our advanced AI and machine learning technology.
view solutionsCompliance Workspace
An advanced case management solution for automating KYC compliance, managing identity verification exceptions, and screening matches seamlessly.
view solutionsBy integrating Tazama with Sybrin's suite of services, financial institutions can create a robust and multi-layered defence against fraud, protecting their customers and fostering a thriving financial ecosystem.
A New Dawn for Regulatory Technology.
The path to financial inclusion is a collaborative effort. It requires the commitment of global foundations, the expertise of engineering teams, and the community spirit of open-source ecosystems. Tazama is not just a system; it's a vision made tangible, and with Sybrin, it is poised to redefine the landscape of financial technology.
Reach out for more information about Tazama and its integration into Sybrin’s suite of Fraud Risk Management products.
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