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EFD

The e-wallet Fraud Detection

Total Cost €

EC-Contrib. €

Partnership

Views

Outcomes and
results

EFD project word cloud

Explore the words cloud of the EFD project. It provides you a very rough idea of what is the project "EFD" about.

transactions ltd market credit tool suspicion ultra sending theft fraud unauthorised invention mode detection mobile people approved safe electronic it cards algorithms point prevention frauds database spot attempt release accuracy dollars fraudulent directed annually rates transaction light offers self line authentication connected models until running cover identity firewall thefts offline card wallet customer worldwide instruct detects provider issuers date works dramatically anti intervention 61 nfc billions sale efd smartphone 815798 internet tools prevents false patented ssafe block defend off financial issuing device wallets amount reduce acquirer

Project "EFD" data sheet

The following table provides information about the project.

Coordinator	PAYGILANT LTD Organization address address: 14 HABANIM city: BEHER YACOV postcode: 70300 website: n.a. contact info title: n.a. name: n.a. surname: n.a. function: n.a. email: n.a. telephone: n.a. fax: n.a.
Coordinator Country	Israel [IL]
Project website	http://www.off-la.com
Total cost	2˙773˙750 €
EC max contribution	1˙941˙625 € (70%)
Programme	1. H2020-EU.2.1.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies - Information and Communication Technologies (ICT)) 2. H2020-EU.2.3.1. (Mainstreaming SME support, especially through a dedicated instrument)
Code Call	H2020-SMEINST-2-2015
Funding Scheme	SME-2
Starting year	2015
Duration (year-month-day)	from 2015-08-01 to 2017-07-31

Partnership

Take a look of project's partnership.

#	participants	country	role	EC contrib. [€]
1	PAYGILANT LTD PAYGILANT LTD Organization address address: 14 HABANIM city: BEHER YACOV postcode: 70300 website: n.a. contact info title: n.a. name: n.a. surname: n.a. function: n.a. email: n.a. telephone: n.a. fax: n.a.	IL (BEHER YACOV)	coordinator	1˙941˙625.00

Map

Project objective

'EFD (e-wallet Fraud Detection) aims to provide people with a tool that will dramatically improve credit card frauds and false identity thefts. To date the cost of credit card frauds and false identity thefts worldwide amount to billions of dollars annually. The objective of this project is to implement the e-wallet Fraud Detection (EFD) system and support Self Safe Ltd (SSafe) in becoming a leading provider of mobile fraud detection tools to the emerging market of mobile e-wallets. EFD system objective is to reduce fraudulent financial transactions, using anti-theft algorithms running on the user mobile device. The system works in an off line mode without the need for the device to be connected to the acquirer database. EFD system detects an unauthorised attempt to make a transaction and prevents it, if it detects a problem or suspicion. The EFD technology will defend e-wallets in transactions at the Point of Sale directly via NFC and also transactions done on the internet. Based on EFD's patented technology (US 61 815798 Self Authentication: “invention directed to the use of mobile devices in offline transactions, and, more particularly, to a system, method and device for self-authentication of transactions”), e-wallet users will have a 'financial transaction firewall'. EFD’s ultra-light fraud detection algorithms and models, offers on-the-spot intervention and prevention of fraudulent financial transaction using the smartphone. In case of fraud, EFD system may instruct the electronic wallet to block all credit cards until issuing a release process while sending relevant information to customer and credit card issuers. The technology enables to cover all credit cards that are approved for use by the smartphone wallet, achieving higher accuracy and fraud detection rates. '

Deliverables

List of deliverables.
Ethics and Gender Report	Documents, reports	2019-09-17 12:50:12
Report on Project Scientific Dissemination	Documents, reports	2019-09-17 12:50:12
Execution and Results, Demos and Trails	Documents, reports	2019-09-17 12:50:12
Project initial website	Websites, patent fillings, videos etc.	2019-09-17 12:50:12
Project brochures	Websites, patent fillings, videos etc.	2019-09-17 12:50:12
Project presentation	Websites, patent fillings, videos etc.	2019-09-17 12:50:12

Take a look to the deliverables list in detail: detailed list of EFD deliverables.

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The information about "EFD" are provided by the European Opendata Portal: CORDIS opendata.