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IndustryUpdate

Nova Credit offers cross-border credit references
Nova Credit UK, a subsidiary of U.S.-based Nova Credit,
received the requisite permissions from the Financial
Conduct Authority to provide credit references in the
UK. Through its Nova Passport technology, the firm
intends to make it easier, faster and more equitable for
immigrants living in the UK to access credit products
and services, Nova Credit stated. Nova Credit, is a
consumer-permissioned credit bureau.

Since launching in 2016, the company noted, it has
developed partnerships with credit bureaus in over
20 countries, enabling millions of immigrants to bring
their foreign credit history with them when applying
for credit products. It counts American Express, HSBC,
Verizon, the United Nations Federal Credit Union and
SoFi among its customers.
Sontiq's BreachIQ wins award

Intelligent identity security firm Sontiq, a TransUnion
ANNOUNCEMENTS company, said it earned the top spot in the Fraud
Protection category for the 2022 CyberSecured Awards.
The company was recognized for its proprietary
ATM Security Association adds subscription level data breach analysis capability, BreachIQ. The annu-
al CyberSecured Awards are issued by 1105 Media’s
The ATM Security Association introduced a new sub- Security Today, an industry media brand that provides
scription level designed for security, software and cash technology, education and solutions for security profes-
management companies whose markets include the sionals.
ATM industry. Each of these business types can benefit
significantly from access to ASA resources, including the The awards are independently judged and honor out-
Crisis & Crime Management Intelligence System, which standing product development. BreachIQ’s proprietary
allows subscribers to track all types of ATM crime across AI algorithm analyzes more than 1,300 data points using
the globe, the ASA stated. information from publicly reported data breaches, fraud
risk patterns, and feeds from the Dark Web and online
Key subscription benefits include faster and more com- criminal forums, Sontiq noted, adding that it then cal-
prehensive information and knowledge-sharing on rec- culates a personalized risk score ranging from one to 10
ognized ATM attack scenarios and threats; proactive, based on the severity and risks, and provides the specific
cross-vendor recommendations on countermeasures; steps to take to mitigate risks.
participation in workgroups with other ATM industry
stakeholders; and participation in standardization pro- Wafi Inc. launches Wafi.cash
cesses.
Wafi Inc. reported it launched Wafi.cash, a payment pro-
EMVCo updates EMV secure cessing platform that provides ecommerce businesses
remote commerce specs with a simple API to enable fast, secure and cost-effec-
tive processing of payments. The platform eliminates
Global technical body EMVCo updated its secure remote redundant entities in the payment processing flow,
commerce (SRC) specifications to support more flexible giving businesses significant cost savings and increas-
online checkout options for merchants and consumers. ing profitability, Wafi stated, adding that ecommerce
EMVCo worked with EMVCo Associates to update the businesses reduce payment processing fees by over 50
specifications in line with marketplace needs. Version 1.3 percent, and users earn up to 0.75 percent cash back on
of the EMV SRC Specifications add increased flexibility, every purchase.
choice and control for merchants; expanded authenti-
cation options; and improved SRC identity validation. In addition to reducing fees, Wafi noted, the platform
Version 1.3 is now available on the EMVCo website, helps reduce payment failures. Wafi.cash includes auto-
https://bit.ly/3W4Swf9, and can be used royalty-free. mated workflows and smart fallbacks that handle multi-
ple payment scenarios, increasing payment success rates
and helping to reduce fraud with advanced security fea-

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