CurrentDesk, a solutions provider to brokerage and trading firms, and Runway, a payment services provider, have announced a partnership to combat fraud in the trading industry. The service, which is called DisputeWatch, will aim to stop fraudulent transactions before they can take place.
Discussing the new solution, Travis Dahm, co-founder and Director of Business Development at CurrentDesk said: “We always strive not only to create software but also to create solutions. In the case of DisputeWatch the solution is eliminating fraud which is something everyone at CurrentDesk has been highly driven to accomplish”.
To get started with the service, merchants upload their dispute user data to the DisputeWatch website. After that, the service will start to automatically scan for dispute matches and send notifications to companies, warning of potential fraudsters as soon as it identifies them.
Registry of fraudsters
DisputeWatch also offers a dispute registry service, in which firms can access one another’s dispute records to prevent themselves from being attacked by the same fraudsters. DisputeWatch will also automatically compare the client list you have uploaded to the registry to see if there are any matches.
Fred Lum, the foundRunwayRunway, also discussed the launch of the partnership with CurrentDesk, saying: “A service such as DisputeWatch is long overdue for any financial based industry. After speaking with Travis it was natural to team up and get it done.”
Currently, DisputeWatch is not open for anyone to just sign up. Companies must either get a referral from an existing member or request access to the service.