SEON partners with Exist Software Labs on fraud and AML in the Philippines

SEON and Exist Software Labs are partnering to provide fraud prevention, identity verification, and AML tools across the Philippines and Southeast Asia.

Fraud prevention software provider SEON has partnered with Philippines-based Exist Software Labs to offer fraud detection and anti-money laundering technology to organizations in Southeast Asia.

The agreement gives Exist's clients in banking, fintech, payments, e-commerce, and iGaming access to SEON's fraud prevention, identity verification, and AML compliance tools. Exist will provide engineering and systems integration support to deploy the technology within clients' existing systems.

Bangko Sentral ng Pilipinas (BSP) data shows digital channels accounted for 64.69% of Philippine retail transaction volume in 2025, up from 57.45% in 2024. The central bank recorded about 3.94 billion digital transactions out of 6.09 billion retail transactions during the year.

Philippine financial institutions are also subject to more specific requirements for detecting fraud in online transactions. BSP Circular No. 1213 requires supervised financial institutions to implement automated, real-time systems capable of identifying and blocking disputed, suspicious, or fraudulent online transactions.

Institutions offering advanced electronic payment and financial services and handling an average monthly network transaction value of at least PHP75 million over the previous six months must maintain a fraud management system. Required controls include transaction-velocity checks, monitoring changes to devices and account information, geolocation monitoring, blacklist screening, and detection of behavioral anomalies.

More recent police data provides another measure of scam activity in the country. The Philippine National Police Anti-Cybercrime Group recorded 311 investment scam cases from January 1 to December 31, 2025, including 12 cases involving cryptocurrency schemes.

Platform integration

SEON's platform covers fraud detection and risk scoring, customer and payment screening, AML transaction monitoring, identity verification, case management, and reporting. Exist will integrate these functions into clients' existing systems rather than requiring them to build separate tools from scratch.

"Fraud and financial crime keep growing more sophisticated, but most organizations are still trying to manage that risk across tools that were never designed to work together," Troy Nyi Nyi, senior vice president and general manager for APAC at SEON, said.

"By combining Exist's engineering and integration expertise with SEON's real-time fraud prevention and AML technology, we're helping organizations in the Philippines and across Southeast Asia bring those signals into a single view and act on them faster."

Exist's role in the partnership centers on integrating SEON's technology with clients' existing systems, drawing on its software development and systems integration work.

"Through our partnership with SEON, we are expanding the capabilities we can bring to our clients by combining advanced fraud prevention and AML technology with Exist's expertise in software development, systems integration and digital transformation," Jonas Lim, vice president for technology at Exist Software Labs, said.

"Together, we aim to help organizations gain better visibility into risk and take more informed action."