Frank Risk Management: 10’s of millions of dollars in annual transactions protected by VigilantPay.

Frank Risk Management insurance brokers service a range of corporate and SME clients around New Zealand, via their four North Island based offices. VigilantPay provides both the executive team and Board the confidence they require when it comes to managing internal and external payment fraud risk.

Having supported multiple clients who have been victims of payment fraud and other social engineering attacks, the team at Frank Risk Management are only too aware of the risks present without a payment fraud software like VigilantPay.

Frank originally purchased VigilantPay as a protection against large, frequent payments going to insurers. The business identified that it was near impossible to manually check each bank account and transaction every time payments needed to be made, and found VigilantPay offered a great, easy, automated solution to the problem.

“We trust our staff, but are conscious that as you grow, it is a good idea to ensure you have that extra layer of protection to ensure things are checked before the money leaves your account.”

Emma Haugh
Director & General Manager

In addition to real-time protection against payments going out, the business is able to proactively report to the Board around notable transactions, what steps have been taken to protect the business, and can quickly respond to any questions around specific payments.

“In addition to being a customer ourselves, we regularly speak with our clients about the benefits of implementing a management tool like VigilantPay, in order to give them more comfort around making their payment system watertight.”

Andrew Newman
CEO

Frank Risk uses VigilantPay every month to highlight any changes to bank accounts, flag any payments to employees in creditor batches, and bring any other anomalies to the business’ attention, where they can be monitored and addressed as needed. To find out how VigilantPay can provide an extra layer of protection for your own organisation, check out some of our features by clicking here.