Enfuce Drives Mobility Revolution with Visa Fleet 2.0
Speaking to FinTech Magazine, Enfuce Co-founder and Co-CEO Monika Liikamaa reveals how the Finnish payments processor is reshaping mobility through its partnership with Visa Fleet 2.0, while navigating the landscape of AI-powered fraud detection.
The Helsinki-based company has positioned itself at the forefront of the transportation payments revolution, working alongside major partners to deliver what Monika describes as "services that matter" in the mobility sector.
"If you look at how people are taking themselves from A to B, we’re looking closely at these incumbent things, the mobility of getting from A to B and taking that to the next level," she explains.
Fleet partnerships drive innovation
Enfuce's collaboration with Visa on Fleet 2.0 represents a significant milestone in the company's mission to modernise transportation payments.
"It's been a pleasure to really start working with Visa with the Fleet 2.0," Monika notes, highlighting how the partnership enables more sophisticated payment solutions for fleet operators.
The company has been working with notable clients, including Octopus, Electro and Shuttle, demonstrating the practical applications of their technology in real-world mobility scenarios.
These partnerships illustrate how Enfuce is "really changing the game when it comes to mobility and transportation" by providing seamless payment experiences across different transport modes.
AI evolution presents opportunities and challenges
With nearly nine years of experience in machine learning and artificial intelligence, Enfuce has witnessed a significant evolution in the technology landscape.
"We've been having machine learning and AI for almost nine years now, but it's really nice to see how it's evolving and becoming better," Monika observes.
"We've been having machine learning and AI for almost nine years now, but it's really nice to see how it's evolving and becoming better"
However, this technological advancement presents a double-edged sword for the payments industry. "Unfortunately, it's also becoming better for the fraudsters, so it is a constant race," she warns.
This reality has shaped Enfuce's approach to fraud detection, where AI serves as a powerful tool for pattern recognition whilst requiring human oversight.
"It's a good tool to help us understand better patterns, to understand and recognise things that maybe the human brain cannot see, but also remembering that it's a tool and it's really important to combine the artificial intelligence with human intervention to understand cultural background," Monika emphasises.
The company's philosophy extends beyond technology to encompass its unique corporate culture, including the recent acquisition of a Finnish island for employee and client retreats.
"As Finns, where do we recharge the best? On an island in the sauna. And now we have one of our own."