Bellevue-based G2 Web Services, has been chosen as the Bronze medal winner of the ‘Most Innovative Company’ award in the 2016 PYMNTS Innovator Awards.
The PYMNTS Innovator Awards are considered one of the most prominent honors in payments today. The Most Innovative Company prize is the most competitive of the 16 categories.
In 2015, G2 Web Services launched the payment industry’s most comprehensive transaction laundering solution. Transaction Laundering Detection (TLD) helps banks identify approved merchants that are processing credit card transactions for unknown and often illicit businesses. Last year G2 added several new components to TLD that increased client protection by utilizing over a decade of merchant information, data science and a global footprint.
“I’m so pleased to congratulate G2 Web Services on their award,” said Karen Webster, CEO of PYMNTS.com. “The PYMNTS Innovation Awards are the most prestigious recognition in the payments industry. And because of the record breaking amount of votes for the finalists and the caliber of judges that reviewed the submissions, this year I think we were able to truly recognize the best of the best in the payments industry.”
“G2 is honored to be recognized amongst this prestigious group of nominees by the PYMNTS panel of experts and industry thought leaders,” said Dan Frechtling, Chief Product Officer, G2 Web Services. “Our engineering, data science and analyst teams work hard to create solutions that stay ahead of fast-moving fraudsters and we are proud to be acknowledged for our contributions to protecting our clients and advancing payments technology.”
In recent months, G2 has also been named a finalist in the Mobile Money & Digital Payments Global. Payments Awards and a Top 10 Most Promising Payment and Card Solution Provider. G2 will be conducting a webinar on the rise of transaction laundering in the drug trade on March 22nd and 24th titled ‘Illegal Drugs and Pharma: Kingpins of New Risk.‘
PYMNTS Innovator Awards winners were announced during a live ceremony at The Innovation Project 2016 on March 17th.
About G2 Web Services
G2 Web Services is a global technology and services company that helps banks, processors and their partners ensure safer and more profitable commerce. Clients representing over half of merchant outlets globally use G2’s solutions to identify bad actors and keep them out of the payments system. Banks, processors and their partners use G2’s tools and expertise to perform better due diligence and monitoring so they can grow their portfolios while taking on acceptable risk. G2 helps clients confidently handle known and unknown threats and manage changing rules and regulations.