Organized by Payment Systems Magazine since 2018, the PSM Awards was hosted by İşbank once again on December 29, 2021. In the event, which took place with the participation of leading names from many different sectors such as financial technologies, insurance and banking, Formica Fraud is among the winners of this year. Winning the Silver PSM Award in the "Most Innovative Product" category, Formica Fraud aims to announce its name on a global scale as well.
Formica, which was developed by Turkish software and engineer teams in 2020, continues to grow rapidly and celebrates its second year with the Most Innovative Product Award. Formica, which currently serves giant names such as Oyak Group, Hepsiburada, Birleşik Ödeme and Anadolubank, is an artificial intelligence-based data streaming platform. The product, which can instantly catch suspicious activities and take necessary actions thanks to machine learning, offers real-time fraud detection service to its customers. The product, which was deemed worthy of this award thanks to its effective use of modern technologies and innovative approaches, aims to expand its portfolio in Turkey as well as to serve customers on a global scale. Formica AI, which differs from its competitors with the real-time protection and solutions it promises to its customers, also has a user-friendly interface.
Özgür Oktan, founder and CEO of Trlogic Information Technologies, stated: “While innovation is at the core of both Trlogic Information Technologies' and Formica's visions, being deemed worthy of an award in the Most Innovative Product category is not only a source of pride but also a sign that we are walking on the right path. As we enter our second year, to be among the winners with important names who do very valuable works in their fields; has increased our motivation and excitement to continue developing innovative technologies. A big thank you to Payment Systems Magazine and the competition judges for this opportunity.”
Artificial intelligence supported big data processing platform Formica AI brings innovative solutions to different sectors by combining complex data analytics and fraud detection, thanks to the machine learning technologies it uses in fraud detection processes. In the light of these innovative solutions it offers, it takes steps to make its name known in the global market as well as in Turkey.