Topaz Analyzes More Than 2.8 Billion Transactions Per Month Using AWS

According to Camargo, building on AWS spurred a change in Topaz’s approach to the solution by moving from a model that only identified the user’s machine to a new solution that monitors the full customer journey and transactions on digital channels. The cloud migration took place in 2015, with the company still maintaining the two models in parallel. “In the meantime, we were working with AWS to create our infrastructure, rebuilding our endpoints and sending information to our customers and to the cloud,” he recalls.

At the time, the solution served about a dozen customers, including large banks.

Now in the software as a service (SaaS) model, its use is scaling. In 2022, the solution quadrupled the number of customers served and reached 3k events analyzed per second. “With the cloud and AWS, we have matured our perception of risks and were able to notify our customers based on information from the entire system,” Camargo says.

To reach these results, the solution currently has an infrastructure based on Elastic Load Balancing (ELB), which receives information obtained from devices where Topaz has endpoints or from institutions, which use APIs to obtain risk analysis.

Topaz's Head of Partnerships, Pérsio Henrique Sanvito, says that the Topaz OFD solution systems currently process information from half of the Brazilian population. “If we strictly consider the banked population, it could be more than that,” he says, recalling that the solution is used by four of the five largest Brazilian banks and by major telephone operators. “The fight against fraud is not exclusive to the financial system, but to everyone who carries out transactions in some way,” he reinforces.

Sanvito points out that approximately 90 percent of Brazilian financial institutions use the solution, generating the largest anti-fraud network. Customers analyze more than 2.8 billion monthly transactions, which are received from more than 200 million mobile devices. Topaz is always focused on security and data analysis to optimize fraud diagnoses and quick responses. “Fraud prevention cannot harm business. One of our concerns is to not prevent legitimate transactions or generate more friction in bank customers’ journeys,” he says.

The Topaz team is constantly evolving its solution to ensure its relevance among new anti-fraud scenarios, to prevent future attacks/fraud, and to protect digital identity. Sanvito recalls the network effect, where Topaz uses artificial intelligence (AI) to analyze associated devices, providing immediate answers and accurate fraud detection. “We are working on adopting geolocation to prevent fraud as we speak. The solution also continues to evolve with the adoption of the money laundering prevention solution,” he says.

Camargo says that Topaz is continually expanding the service’s offerings. For example, Topaz is working on using the solution to strengthen access control with multiple authentication factors, token services, QR code recognition, and voice recognition, which is now available to the solution’s customers. “Today we have the peace of mind of building in the AWS environment, which allows us to have high scalability and a high level of security, and to develop new solutions that will be unified within our platform,” he says.