Digital transactions in Brazil have skyrocketed in the last few years, and now with over 164 million users, payments firms are needing to find new ways to stay ahead of their competitors. For Elo, the Brazilian payment processing organisation, this competitive edge will be gained through a new partnership with INETCO, the payments monitoring and fraud prevention firm and Agility, the IT and cybersecurity provider.
As digital transactions continue to grow, weeding out illegitimate transactions and users is becoming more and more challenging. However, it is a crucial part of the payments cycle. Following the new partnership with INETCO and Agility, Elo will be able to implement a solution that ensures compliance with the Central Bank of Brazil‘s regulations, and maximise its real-time payments services – simultaneously ensuring only legitimate transactions go through.
Arlei Francioli Jr., executive technology manager, Elo, said: “As a 100 per cent Brazilian company and global leader in the payments industry, we are committed to providing secure, efficient and seamless payment experiences for millions of users. When Agility introduced the INETCO Insight real-time transaction monitoring platform, we immediately recognised that this solution is essential to minimising service disruptions, building customer trust and optimising performance management.
“Through our new partnership, we have gained a powerful solution that enhances transaction monitoring, reduces failures, and ensures the highest levels of security and reliability for our customers.”
By providing a consolidated real-time view of Elo’s entire hybrid network infrastructure, payment switch, third-party applications, and all payment transactions, INETCO enables Elo to:
- Reduce failure diagnosis time in its core business by more than 90 per cent
- Improve the identification of failure root causes by approximately 60 per cent
- Diagnose historical failures and reach definitive resolutions faster and more accurately
- Integrating real-time monitoring seamlessly without affecting transaction speed or requiring modifications to the payment switch
- Reduce failure recovery time and the technical resources and effort required for investigations and diagnostics
Identifying problems
“Before INETCO, diagnosing failures required performing Trace Route/TCP Dump captures and conducting a meticulous analysis of the captured packets for investigation, which took over 40 minutes,” Francioli explained. “After implementing INETCO, we can now trace a transaction in approximately four minutes. We have also increased our ability to identify the root causes of failures by approximately 60 per cent, while also enhancing the detection of external failures. This has helped our partners diagnose latency issues in their environments and other failures that impacted our core business.”
According to Agility CEO Fabio Soto, the company’s deployment of the INETCO platform has exceeded expectations. “Our initial goal was to provide Elo with full visibility into its transactional ecosystem while improving operational efficiency. But the depth of the platform’s insights into network performance and security has enabled proactive issue resolution and seamless transaction processing like never before.”
Looking to the future
Indeed, the success of INETCO Insight has led Elo to explore additional security solutions, including INETCO BullzAITM, a fraud prevention and cyber threat detection platform. The company is currently testing INETCO BullzAI to assess its ability to block fraudulent transactions in real time while minimising false positives through behavioral analysis and risk scoring.
“By incorporating cutting-edge AI-driven models and advanced transaction monitoring capabilities into our solutions, INETCO is empowering Elo to deliver the level of payments reliability and security that all people deserve, every moment, every day,” said Bijan Sanii, CEO of INETCO. “We’re honoured to bring these innovative features to our expanding customer base as we collaborate to navigate the fast-evolving digital payments landscape.”
The partnership leverages INETCO’s real-time transaction monitoring solutions and Agility’s experience and expertise in supporting major clients in sectors such as banking, stock exchanges, telecommunications, and healthcare with technologies from vendors and managed services in cybersecurity, performance, DevSecOps, and data protection.
