How We Transformed Fraud Prevention in the Payment Methods Industry in Ecuador
At Datafast, we’ve always focused on offering technologically advanced payment solutions for Ecuadorian merchants. However, three years ago, we decided to take on a new challenge that would profoundly transform our operations: creating our own Fraud Prevention Division.
For a time, the idea that a company like ours, responsible for payment processing for the three largest financial institutions in the country, would need a specialized fraud prevention department seemed unnecessary. Traditionally, fraud management was a shared responsibility between merchants and financial institutions, and our focus was on technological innovation.
However, despite handling a considerable volume of transactions and possessing valuable data, this information was not used strategically. Each acquirer had visibility only into its own fraud cases, allowing fraudsters to move from one entity to another undetected, as if on a constantly moving carousel.
The Decision: Bet on Intelligence
We realized we needed a solution that not only monitored transactions that move money, but also those that don’t, but that can be early signs of fraud.
We wanted a tool that would allow us to manage prevention across multiple platforms, autonomously and efficiently.
The choice of Sentinel: a strategic decision
That’s when we made a strategic decision: to partner with Sentinel. We weren’t just acquiring a cutting-edge technological solution, but also the expertise of a highly specialized team in fraud prevention.
Sentinel allowed us to centralize information from the various ecosystem players, identify suspicious patterns before fraud occurred, and take action early. We moved from reaction to prevention, thanks to a modular and flexible suite that adapted to our operational reality.
Furthermore, Sentinel’s ongoing support helped us implement more agile processes, with dashboards and analytical intelligence that facilitated real-time decision-making.
It was a strategic change that allowed us to move from reaction to prevention.
The Result: A Safer Ecosystem
Today, we can proudly say that we’ve not only transformed our way of operating, but we’ve also contributed to raising security standards throughout the payment industry in Ecuador.
This change has allowed us to offer self-sustaining value propositions, strengthen the trust of our partners, and reaffirm our commitment to responsible innovation.
Reynaldo Ronquillo
Head of Payment Method Fraud Prevention – Ecuador
