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Dutch Security TechFund tackles financial crime with Fraud Dynamics 

Naarden/Leusden, 18 december 2020 – By investing in Fraud Dynamics, the Dutch Security TechFund of TIIN  Capital is once again realizing its ambitions of making society more secure. This is done by investing in  companies where security is key. A company such as Fraud Dynamics, which has a clear vision on how to tackle  financial crime, fits in seamlessly with the strategy of the TIIN Capital fund to build a broad portfolio on this  topic. 

Fraud Dynamics is a young company with a lot of experience and strong network in the financial sector and the  prevention of financial crime. This is increasingly driven by ongoing digitization, cyber risks and changing  regulations. With the proven better results of Fraud Dynamics, both regulatory requirements can be met and  financial crime can be effectively combated. A current issue given the costs as well as customer and reputation  damage associated with this gatekeeper position. 

Fraud Dynamics was founded by Sjoerd Slot, who, as an advisor to banks, was confronted with the major  challenge for the financial sector in this field. He is enthusiastic about the investment of the Dutch Security  TechFund. “This enables us to quickly scale up internationally and to further strengthen the link between  regulations and algorithms. We’ve gotten to know the TIIN Capital team as a real partner to achieve our  ambitious goals”. Roel Reijnen, early-stage partner of TIIN Capital, adds; “Banks have recently been focusing  more on innovative solutions, partly due to the recent incidents and attention ofsupervisors. The usual approach,  often aimed at modelling already known criminal behavior, falls short and leads to many false positives. As a  result, a, cost-efficient and customer-friendly payment service is under pressure. The Machine Learning solutions from Fraud Dynamics lead to better detection while achieving lower customer nuisance for the financial  institutions”. 

About Fraud Dynamics 

Fraud Dynamics was founded by a number of experts in the fight against financial crime with the aim of getting  out of the constant cat-and-mouse game between banks and criminals, i.e. “stay ahead of the game”. From the  new office in Leusden, with an international team and network, the company develops software that  automatically generates fully compliant fraud / money laundering detection models that can be used within  existing transaction monitoring environments. Due to this automated approach, in combination with anomaly  detection, it achieves many times more granular results than the usual. And with advisory board members such  as Fred Teeven (former State Secretary for Justice), Rene Troost (former DNB, ABN AMRO and RBS) and Victor  van der Kwast (former Fortis and ABN AMRO), the company also has a lot of expertise in banking and financial  crime prevention. For more information see: www.frauddynamics.com

Over TIIN Capital/Dutch Security TechFund: 

TIIN Capital has many years of experience in supporting technology companies with capital, knowledge and  network. The Naarden-based TIIN Capital started with the Dutch Security TechFund in early 2019 and is also  present at The Hague Security Delta in The Hague to be close to scaling security companies and to have  knowledge and talent within reach. The fund has “informal investors”, but also the regional investment company  InnovationQuarter, the Municipality of The Hague, KPN Ventures and Investeringsfonds Groningen are involved  as investors. The Ministry of Economic Affairs and Climate is also co-investing through the RVO Seed facility. For  more information see: www.tiincapital.nl

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