Etraveli Group Launches Precision: A Revolutionary Risk Management Solution

Stockholm, Sweden - July 15, 2024 - Etraveli Group, a leading global technology provider for flights, is pleased to announce the launch of Precision, a sophisticated risk management solution designed for travel sellers and airlines. Precision sets a new standard in fraud prevention within the travel industry by maximizing sales while minimizing fraud costs, and providing robust technology for navigating industry complexities with a comprehensive 360-degree approach.

Currently, airlines and travel sellers globally reject millions of valid customers while accepting fraudulent transactions due to limitations in existing fraud setups. Precision addresses this critical issue.

Building on its world-leading fintech capabilities Etraveli Group launches EG Fintech Solutions to expand its advanced technological expertise to the broader travel market. Precision, the pioneering product of this initiative, builds upon over 20 years of experience in handling multibillion-dollar transaction volumes across more than 200 countries. This innovative solution combines robust in-house technology with seamless integrations to provide unparalleled defense against travel fraud. With Precision, Etraveli Group continues to lead the travel industry, ensuring a secure and seamless experience for all stakeholders. In a sector known by thin margins, Precision aims to reduce fraud costs and maximize sales, thereby supporting the sustainability of flight-centric OTAs and the broader flight industry.

Peny Rizou, Chief Fintech Officer, Etraveli Group, expressed her enthusiasm for this milestone:
“Born from the travel industry’s critical need to safeguard transactions, enable a secure travel experience for all and ensure challenging margins, Precision is not just a solution; it's a testament to our dedication to innovation and taking customer protection and fraud management in the challenging travel industry ecosystem to the next level.”

Key Benefits of Precision:

• Born from Travel: Developed specifically for the travel industry, Precision combines global reach with local expertise, catering to both established markets and emerging economies incorporating travel specific know how
• Proven Track Record: Our data-driven excellence is built on a track record of insights and continuous improvement.
• All KPIs matter: Utilizing a 360° approach that addresses all aspects impacting the company’s bottom line.
• Custom-built technology with orchestration capabilities: A robust solution combining in-house technology and rich data sets.

Mathias Hedlund, Chief Executive Officer, Etraveli Group, highlighted the strategic significance of the launch:
“Etraveli Group has over the last decade worked hard to resolve the underlying complexities of selling flights globally, benefiting both customers and partners. Precision represents our commitment to providing cutting-edge solutions that address the unique challenges of the travel industry to the wider market. With EG Fintech Solutions, we are excited to leverage our advanced Fintech capabilities to enhance the security and efficiency of travel businesses worldwide, starting with this product that promises to significantly improve KPIs for travel sellers and airlines taking advantage of the solution.”

About EG Fintech Solutions
Etraveli Group has introduced EG Fintech Solutions to leverage its advanced fintech capabilities for the benefit of the wider travel market. The first product, Precision, offers a Risk Management Solution tailored for travel sellers and airlines. EG Fintech Solutions plans to expand its portfolio with additional innovative solutions, utilizing Etraveli Group strengths and further promoting travel specific solutions. For more information about Precision and how it can benefit your business, visit: www.precisionrisk.com/

About Etraveli Group
Etraveli Group (ETG) is a leading global technology provider for flights, offering flexible solutions for flight content delivery. Partnering with platforms such as Booking.com, Google Flights, Kayak, and Skyscanner, ETG provides seamless flight booking and related services. ETG’s own brands include Mytrip, Gotogate, and Flightnetwork. ETG also operates TripStack, an airline integration company, Flygresor.se, Sweden's leading price comparison site, and EG Fintech Solutions offering the Risk Management solution, Precision. Etraveli Group serves over 30 million flight passengers annually across 75 markets worldwide. www.etraveligroup.com/

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