Linux Foundation launches Tazama open source real-time anti-fraud software project, supported by Gates Foundation

According to news from this site on March 4, the Linux Foundation recently announced that with the support of the Bill and Melinda Gates Foundation, it has launched Tazama, an open source software for real-time fraud prevention. solution.

The Linux Foundation stated that Tazama is the first open source platform focused on improving digital payment fraud prevention management. An "important milestone" in the development of financial services.

To combat fraud, the financial industry has been adopting proprietary and often expensive solutions that have limited access and adaptability, the foundation said. A report by the Global Anti-Fraud Alliance (GASA) states that in 2022, nearly $1 trillion will be lost globally due to online fraud.

##▲Tazama Software Features

This site queries Tazama official website to summarize the software platform features as follows:

Real-time: Complete the evaluation before the transaction is completed, detect fraudulent transactions without reducing performance
API driver: The detection API uses ISO20022 standard format information , provided as a service (aaS, as-a-Service)
Rules are composed of discrete code modules, each module only performs a single evaluation task and provides clear evaluation results.
Flexible configuration: the configuration file is separated from the execution code, so that the configuration file is controlled by the user instead of the developer

▲Tazama software process

Tazama executive director Greg McCormick said, "Tazama is one of the very few anti-fraud systems with true real-time capabilities," calling it even bigger The challenge is how to reduce costs and use open source solutions to achieve 2,300 complete payment transactions per second (TPS) at this stage.

Several organizations, including BankservAfrica, IPSL, JoPACC and BCEAO, are exploring collaboration with Tazama.

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