Opendata, web and dolomites

COBAFRA

Combatting Banking Fraud with SiS-id: A unique solution for preventing corporate payments fraud using AI and blockchain

Total Cost €

0

EC-Contrib. €

0

Partnership

0

Views

0

 COBAFRA project word cloud

Explore the words cloud of the COBAFRA project. It provides you a very rough idea of what is the project "COBAFRA" about.

thousand    accounts    pioneer    70    models    invite    guarantee    companies    potentially    considerable    believe    banking    financial    fraudster    cross    2017    launched    france    business    months    benefits    ocean    half    customers    solves    right    enrolment    platform    helps    company    attempted    strategy    technology    blue    innovative    co    international    commercially    market    genuine    clients    13    deploy    suppliers    safe    usurped    fraud    secure    authenticated    lost    data    85    assured    committed    time    sophistication    border    customer    payment    treasurers    parts    borders    million    model    stage    alone    cfos    intention    exists    id    eur    paying    viral    turn    tackle    acquired    had    onto    ai    directors    interface    solutions    23    blockchain    shared    payments    online    last    preventing    corporate    reinvent    identity    pooling    reported    contract    sis    keeps    sake    made    solution    supplier    november    integrates   

Project "COBAFRA" data sheet

The following table provides information about the project.

Coordinator
SIS 

Organization address
address: LE BRITANNIA ALLEE C 20 BOULEVARD EUGENE DERUELLE
city: LYON
postcode: 69003
website: n.a.

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country France [FR]
 Project website https://www.sis-id.com/en/
 Total cost 71˙429 €
 EC max contribution 50˙000 € (70%)
 Programme 1. H2020-EU.3. (PRIORITY 'Societal challenges)
2. H2020-EU.2.3. (INDUSTRIAL LEADERSHIP - Innovation In SMEs)
3. H2020-EU.2.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies)
 Code Call H2020-SMEInst-2018-2020-1
 Funding Scheme SME-1
 Starting year 2019
 Duration (year-month-day) from 2019-01-01   to  2019-06-30

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    SIS FR (LYON) coordinator 50˙000.00

Map

 Project objective

Corporate banking fraud is on the rise. 70% of companies in France alone reported fraud or attempted fraud last year. At the international level, 30 % of companies lost between 85 thousand and 4,2 million EUR. Fraud is without borders and growing in sophistication. Preventing fraud is now the No. 1 priority for Financial Directors. Over half of fraud committed is supplier fraud. How can companies be assured they are paying the genuine supplier and not a fraudster who had usurped its identity?

My SiS-id, a highly secure, innovative platform helps guarantee that payments go to the right company and keeps the banking identity of companies safe online. My SiS-id is different because: - It is not a payment system but an interface that addresses the identity part of the payment process. It integrates with customer and supplier existing systems - SiS-id has integrated AI and blockchain into its solution to reinvent and enhance the traditional data-pooling and enrolment models - My SiS-id benefits both customers and suppliers. Information has to be acquired and authenticated one time only to be made available to all - It is a viral business model: customers invite their suppliers onto the platform, suppliers in turn invite their suppliers and also their customers - The solution was co-developed with 13 pioneer customers (CFOs and Treasurers) to ensure it solves the business need, not technology for technology sake - My SiS-id is blue ocean strategy. No other such solution currently exists. The other solutions on the market only tackle parts of the problem.

The platform was developed in just 23 months and launched commercially in November 2017. The platform is currently being deployed in 2 clients in France, and 7 further companies are at contract stage. Our 13 pioneer accounts have shared their intention to deploy the solution at a cross-border level. Fraud has no borders and we believe the market potential in Europe and beyond is potentially considerable.

Are you the coordinator (or a participant) of this project? Plaese send me more information about the "COBAFRA" project.

For instance: the website url (it has not provided by EU-opendata yet), the logo, a more detailed description of the project (in plain text as a rtf file or a word file), some pictures (as picture files, not embedded into any word file), twitter account, linkedin page, etc.

Send me an  email (fabio@fabiodisconzi.com) and I put them in your project's page as son as possible.

Thanks. And then put a link of this page into your project's website.

The information about "COBAFRA" are provided by the European Opendata Portal: CORDIS opendata.

More projects from the same programme (H2020-EU.3.;H2020-EU.2.3.;H2020-EU.2.1.)

TuneFork (2018)

Mobile technology that brings personalized audio into your life

Read More  

GREEN WHS (2019)

NATURE FRIENDLY WATER HYDRAULIC STEERING SYSTEM

Read More  

PrasinoMed (2018)

First in the world ecological and sustainable cream for wound care, based on microalgaprasinococcus capsulatus

Read More