Etraveli Group launches precision: A revolutionary risk management solution

16.07.2024 - 10:37 / traveldailynews.com / Vicky Karantzavelou

Etraveli Group launches Precision, a sophisticated risk management solution designed to optimize fraud prevention in the travel industry, enhancing transaction security for airlines and travel sellers.

STOCKHOLM, SWEDEN – Etraveli Group, a leading global technology provider for flights, announce the launch of Precision, a sophisticated risk management solution designed for travel sellers and airlines. Precision sets a new standard in fraud prevention within the travel industry by maximizing sales while minimizing fraud costs, and providing robust technology for navigating industry complexities with a comprehensive 360-degree approach.

Currently, airlines and travel sellers globally reject millions of valid customers while accepting fraudulent transactions due to limitations in existing fraud setups. Precision addresses this critical issue.

Building on its world-leading fintech capabilities Etraveli Group launches EG Fintech Solutions to expand its advanced technological expertise to the broader travel market. Precision, the pioneering product of this initiative, builds upon over 20 years of experience in handling multibillion-dollar transaction volumes across more than 200 countries. This innovative solution combines robust in-house technology with seamless integrations to provide unparalleled defense against travel fraud. With Precision, Etraveli Group continues to lead the travel industry, ensuring a secure and seamless experience for all stakeholders. In a sector known by thin margins, Precision aims to reduce fraud costs and maximize sales, thereby supporting the sustainability of flight-centric OTAs and the broader flight industry.

Peny Rizou, Chief Fintech Officer, Etraveli Group, expressed her enthusiasm for this milestone: “Born from the travel industry’s critical need to safeguard transactions, enable a secure travel experience for all and ensure challenging margins, Precision is not just a solution; it’s a testament to our dedication to innovation and taking customer protection and fraud management in the challenging travel industry ecosystem to the next level.”

Key Benefits of Precision:

Mathias Hedlund, Chief Executive Officer, Etraveli Group, highlighted the strategic significance of the launch: “Etraveli Group has over the last decade worked hard to resolve the underlying complexities of selling flights globally, benefiting both customers and partners. Precision represents our commitment to providing cutting-edge solutions that address the unique challenges of the travel industry to the wider market. With EG Fintech Solutions, we are excited to leverage our advanced Fintech capabilities to enhance the security and efficiency of travel businesses worldwide, starting with this product that