ChainIT and rs software have formed a product alliance to bring risk-based authentication to account-to-account (A2A) payments, addressing a critical security gap in instant payment networks. Announced on Aug. 6, 2026, from Scottsdale, Ariz., the partnership seeks to replicate the shared authentication framework that has protected card payments for two decades through 3-D Secure. This is particularly significant for networks like FedNow and RTP, where transactions settle in seconds and cannot be recalled, leaving institutions vulnerable to irreversible fraud losses.

The urgency of this development is underscored by rising fraud metrics. The Federal Trade Commission (FTC) reported more than $12.5 billion in consumer fraud losses in 2024, a 25 percent increase year over year. Bank transfers accounted for the largest share of these losses, primarily driven by account takeover and authorized push payment scams. These categories exploit a structural weakness in current systems: identity is typically verified once during onboarding and then assumed thereafter, rather than being validated continuously.

The alliance addresses this by evaluating identity and fraud risk on every transaction in milliseconds. RS Software contributes its RS IntelliEdge platform, which scores each payment using behavioral, device, and contextual signals. ChainIT adds biometric identity verification and Validated Data Tokens, which are cryptographically anchored credentials that establish who authorized a payment and whether they had the authority to do so. When a combined risk score crosses a predefined threshold, the financial institution’s own policies determine whether to require additional verification, hold the payment, or allow it to proceed.

The framework extends beyond consumer payments to business transactions, binding each payment to the agreement that authorizes it and flagging counterparty risks that onboarding alone may miss. Throughout the process, the financial institution retains final decision-making power. The system supplies the institution with a risk score, a plain-language rationale, and a tamper-evident audit record. The capability is additive to existing fraud platforms and is being integrated into both companies’ payment products, including ChainIT Pay, RS DigitalEdge, and Payabbhi.

Executive Commentary

Raj Jain, CEO of RS Software, stated that identity verification is the primary gateway for preventing fraud and that fraud prevention has become the core of trust in payments. He noted the company’s excitement to partner with ChainIT to provide an integrated front-line attack in this multi-billion-dollar market opportunity. Jeremy Blackburn, CEO of ChainIT, emphasized that their role is to prove who authorized a payment and preserve evidence for dispute resolution, while RS Software provides the risk engine that turns that proof into action.

Key Alliance Components

Market Context

The partnership emerges as banks continue joining instant payment networks and merchants increasingly adopt pay-by-bank options at checkout. Unlike card payments, which have benefited from decades of standardized risk frameworks, instant payments have lacked a comparable industry-wide standard for authenticating risky transactions. By combining continuous risk assessment with cryptographic proof of authorization, the alliance aims to reduce the billions in annual fraud losses associated with bank-transfer networks. The release includes forward-looking statements regarding product integration plans, noting that actual results may differ materially due to risks and uncertainties.

R S Software (India) Limited shareholders have approved the adoption of its audited financial statements for the fiscal year ended March 31, 2026, alongside the re-appointment of key board members, during its 38th Annual General Meeting held on July 23, 2026. The meeting, conducted via video conferencing and other audio-visual means in compliance with Ministry of Corporate Affairs circulars, saw strong support from investors, with all four resolutions passed with requisite majorities. The outcomes reinforce continuity in leadership and governance as the company moves forward.

The meeting commenced at 11:30 AM and concluded at 1:29 PM, chaired by Chairman Rajasekar Ramaraj. Seventy-five members attended the virtual session, which included five directors, the Chief Financial Officer & Company Secretary Vijendra Kumar Surana, the statutory auditor, secretarial auditor, and scrutinizer Mohan Ram Goenka of MR & Associates. The statutory auditor’s report on the standalone and consolidated financial statements contained no qualifications or adverse observations regarding financial transactions.

Shareholders voted on four items of business. The first ordinary resolution concerned the adoption of the audited standalone and consolidated financial statements for FY26. This resolution received 99.89% assent, with 11,099,467 votes in favor out of a total of 11,111,306 votes cast. Only 11,839 votes were cast against the resolution.

The second and third ordinary resolutions pertained to the re-appointment of directors retiring by rotation. Rajasekar Ramaraj was re-appointed as a director with 99.89% support, while Richard Nicholas Launder also received 99.89% support for his re-appointment. In both cases, interested parties’ votes were excluded from the count as per regulatory requirements.

The fourth item was a special resolution for the re-appointment of Rajnit Rai Jain as Chief Executive Officer & Managing Director. This resolution passed with 97.80% support, securing 530,495 votes in favor against 11,939 dissenting votes. The votes of Mr. Rajnit Rai Jain and Mrs. Sarita Jain were excluded as they were interested in the resolution. All resolutions were deemed passed on July 23, 2026, subject to the receipt of the requisite majority.