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Protecting SME cash flows and ensuring brokers can provide the most secure service possible was a key influence behind this collaboration.
The partnership will provide an enhanced layer of security for Moneytech’s SME customers and brokers against payment fraud.
Eftsure’s system uses multifactor verification to cross-check payment details against a database of verified vendors. It also employs anti-fraud techniques to flag and verify suspicious transactions before payment is made.
The key benefits include:
- Ensures payments are sent to the correct vendor.
- Protects against cyber threats like social engineering and payment redirection scams.
- Provides real-time checks on ABN and GST registrations.
- Offers greater certainty that payments are secure and compliant.
Moneytech’s chief risk officer, Grant Howells, said initiatives like this are crucial for SMEs to thrive in a “digital first economy.”
“SMEs are the backbone of the Australian economy, but they’re also one of the biggest targets for increasingly sophisticated cyber scams,” Howells said.
“By partnering with Eftsure, we’re giving our customers more than cashflow – we’re giving them confidence. This integration strengthens our end-to-end offering and helps businesses operate with greater security and control.”
According to Eftsure’s chief technology officer, David Higgins, Aussie SMEs are becoming an increasingly larger target for scammers.
Small businesses don’t have the resources to invest in sophisticated cyber security measures like a larger organisation can. Cyber criminals are exploiting this weakness and targeting vulnerable SMEs.
“Cybercriminals know that SMEs don’t always have the headcount or resources to pre-empt sophisticated fraud attempts, especially those enabled by technology like generative AI tools. That makes SMEs a big target,” said Higgins.
“We applaud Moneytech for leading the charge and protecting payments, this doesn’t just minimise their own fraud risks, it helps keep SMEs and brokers’ money safer, too.”
Recent data from Eftsure found that 2025 recorded the highest number of fraud attempts since reporting began in 2014.
Lenders are increasingly investing in scam prevention methods to protect consumers, such as know your customer (KYC) processes, biometric and digital identity verification, AI-powered fraud detection, and compliance with anti-money laundering (AML) regulations.
[Related: Financial complaints ‘unacceptably high’, says AFCA]
