Credorax Unveils Innovation Lab for Banking and Payments Solutions Processing

Credorax has unveiled its Innovation Lab. Designed to solve online payment issues faced by merchants, the Innovation Lab works with partners to develop solutions that use AI, data science, payment fraud prevention techniques and technologies.

In its debut project, the Innovation Lab partnered with e-commerce anti-fraud solution provider Fraugster to help a Credorax customer eliminate fraud while increasing conversion rates. The team ultimately developed a solution based on AI and behavioural intelligence that helped a Credorax merchant increase approval rates by 5%, save €200,000 on chargeback-related fraud cost savings, and increase revenues by 9% in three months of deployment.

 

Global partners

    

Industry partners