Ballerine

Happy Passover from Ballerine! 🩰 P.S. - Wondering about the big package with our logo? Meet Ballerine’s picnic set—it includes a cooler, cutlery set, and a gas-based coffee maker! 🧺 🍽️ ☕️

Not everyone knows this, but Ballerine started as an open-source project. We began as a developer-focused risk infrastructure platform. As fintech engineers we were frustrated by the need to integrate too many compliance, risk, and fraud point solutions to assess our clients’ risks at scale. As we couldn’t find anything flexible enough to meet our ever-evolving needs, we constantly faced the dilemma of build vs. buy. Today, most of our sales don’t necessarily come from open source, but we still maintain and fully commit to our project. Many clients choose us for our unparalleled flexibility, a result of our open-source and developer-centric mindset from the very first days. Thank you Quine for acknowledging our efforts!

What will #fintech look like in 2030? 🤔 In Team8’s latest report, Ballerine was asked what the future fintech landscape will look like in 2030 (and beyond) across three dimensions: 'What Won’t Change?'’ 'What (Likely) will Change?’ 'What Could Change Everything?’ At Ballerine, we believe orchestrating data sources and intelligently leveraging AI technologies to view businesses' risk holistically and at scale can help solve some of the most significant compliance and risk challenges for any company with a financial service integrated into their value chain and drive the future of fintech forward. Thank you to Team8 for taking Ballerine as a case study for the report. For those interested in our insights, feel free to check it out at Team8.vc/fintech2030.

Returning from a 3-day hackathon in the mountains ⛰️, our team has improved our website analysis product with cutting-edge AI for image and product brand recognition, enhancing our IP infringement detection scores. Additionally, we've set up new infrastructure to share our blacklists of bad actors more widely. The collaboration between our Risk and Operations officers and engineers, combining their skills for innovation, was incredibly inspiring 🥹🙌🏼

💊 Apetamin/Controlled Substance Repackaged: Tips for Risk Officers 💊 **What’s Happening** - Apetamin, an unapproved drug marketed for weight gain, is often repackaged to evade detection. - Cosmetics/health merchants may appear compliant, yet they could be selling one product that breaches regulations. **Challenges for Risk Officers** - Detecting repackaged, unapproved drugs within the merchant line of products. - Understand the rules and regulations of each country regarding each product. **Proactive Steps** 1. Continuously monitor merchants at the product level, analyzing photos and messages not identifiable through standard keywords/descriptions. 2. By analyzing advertisements and how people get to those sites, you can uncover the actual focus of merchants and what they primarily intend to sell. 3. Partner with vendors capable of automatically identifying generic packaging and unprofessional labeling. 4. Stay updated on FDA alerts and lists of unapproved drugs, either directly or through your vendor. It's crucial to understand the regulations applicable in the countries of both the merchants and their customers. -- At Ballerine, we leverage AI to help acquirers seamlessly expand into more industries and geographies by automating the tedious analysis of merchants and their risks on an ongoing basis. This is the third post from a series of case studies with tips on what to check to ensure merchants act according to global AML regulations and card scheme compliance. Visa Mastercard #compliance

Decoding "Buy This 🎁 , Get That 📦" Counterfeit Schemes - Tips for Risk Officers **The Scheme Explained** - Merchants list innocuous items but deliver counterfeit goods. - Often marketed off-platform via social media or influencers. **The Risks** - Violates trademarks (IP infringement) and consumer trust. - Can lead to card brand fines and legal consequences. - Chargebacks. **How to Spot and Act** 1. Look for discrepancies (like in pricing) between listed and promoted products. 2. Monitor social media for influencers linked to merchant accounts. 3. Collaborate with brands to identify counterfeit goods. 4. Check if the photos on the websites are generic or original. 5. Search for negative reviews - what people are saying about this site? At Ballerine, we leverage AI to help acquirers seamlessly expand into more industries and geographies by automating the tedious analysis of merchants and their risks on an ongoing basis. This is the second post from a series of posts with tips on what to check to ensure merchants act according to global AML regulations and card scheme compliance.

  🌿Your Mini-Guide to Understanding Delta-8 THC in Merchant Underwriting🌿 **What is Delta-8 THC?** - A cannabinoid derived from hemp, chemically similar to delta-9 THC but less potent. - Gained popularity due to perceived legal status under the 2018 Farm Bill. **Why It Matters for Underwriters** - Regulatory landscape is fragmented; legality varies by state. - FDA has issued warnings; products not evaluated for safety. - Significant Card Schemes fines. **Action Steps** 1. Verify the legal status of delta-8 in the merchant’s operational jurisdictions. 2. Monitor regulatory updates and FDA communications. 3. Assess merchant claims for compliance with health and safety standards. At Ballerine, we aim to help acquirers seamlessly expand into more industries and geographies by automating the tedious analysis of merchants and their risks on an ongoing basis. This is the first post from a series of posts with tips on what to check with their merchants according to AML regulations and card scheme compliance.

Happy Purim from Ballerine's Tel Aviv office! 

🔒 Visa is introducing updates to its Integrity Risk Program alongside adjustments in its pricing structure for Europe, aiming to enhance payment security and compliance. These initiatives reflect Visa's ongoing commitment to safeguarding transaction integrity across its network. 🌍 In Europe, Visa's pricing adjustments are designed to align with the evolving digital payment landscape, regulatory demands, and the need for advanced security solutions. This move is part of Visa's strategy to invest in technologies that protect cardholder information and ensure a secure, efficient payment ecosystem. 💼 For financial institutions, merchants, and stakeholders in the payment sector, it's crucial to stay informed about these changes. Understanding the implications of Visa's updated risk management strategies and pricing models is essential for compliance and optimal financial planning. 🚀 As the payment industry continues to grow and adapt, initiatives like the Visa Integrity Risk Program play a pivotal role in enhancing transaction security, combating fraud, and fostering trust in digital commerce. 💡 Stay ahead by adapting to these changes, ensuring your transactions are secure, and optimizing your payment processes in line with Visa's updated policies. If you need help with navigating Mastercard's or Visa's Integrity Risk Program, you can always reach out to our team and discuss with our specialists.

Many thanks to the Merchant Payments Ecosystem for recognizing the hard work we've put into simplifying risk management for payment companies expanding into new geographies and industries. Seeing the audience's response to our production of explainable merchant risk reports was extremely satisfying for our team. We are very proud of the hard work everyone has put in!