Modernize with advanced fraud recovery scheme compliance
Rivero was founded in 2019 in Zurich, Switzerland, by Fatemeh Nikayin and Thomas Müller, with the main purpose of modernizing and streamlining payment operations for banks.
Having spent years in the payments industry, the co-founders found a lack of automated, efficient solutions for payment operations, in particular fraud recovery, dispute management and scheme compliance. Motivated by these unmet needs, they founded Rivero to fill this gap.
In just a few years, the company noted, Rivero rapidly scaled, with Müller serving as CEO and Nikayin directing growth and partnerships. The company and its growing team of around 25 executives, has partnered with more than 20 financial institutions, turned profitable and delivered millions in revenue with minimal seed investment, according to Rivero representatives.
Transformative technologies
Having observed that numerous banks rely on legacy processes to manage scheme compliance and fraud dispute management, Rivero proposed using its technology suite to digitize these core processes, drive efficiencies and ease integration and maintenance burdens. Thus, the company noted, its flagship SaaS offerings are designed to modernize card scheme compliance and fraud recovery and dispute management in the following ways:
- Card scheme compliance: Rivero's Kajo uses advanced technologies to help banks stay in sync with payment network compliance updates while delivering seamless customer experiences. With Kajo, banks can manage the compliance process with the payment networks, like Visa and Mastercard, by tracking all scheme rule changes, breaking down what actions need to be taken and organizing the activities across an enterprise, which can help banks significantly minimize related efforts and risk.
- Fraud recovery and dispute management: Rivero's Amiko digitalizes fraud recovery and disputes, end to end, helping banks efficiently manage this process and offer self-service options to customers. With Amiko, banks have reportedly achieved an 80 percent resolution rate for card payment disputes automatically, which has helped participants save time, money and resources. Moreover, Amiko enhances customer satisfaction by swiftly resolving straightforward issues and allocating resources for complex dispute resolution and personalized customer service.
Rivero pointed out that since its debut, Amiko rapidly gained popularity in the Swiss market, generating substantial revenue in its first year. Its clientele spans banks and payment processors, capturing impressive market share in Switzerland, the company added.
Both Kajo and Amiko have secured long-term contracts, which underscores their lasting value and impact, Rivero mentioned. These powerful SaaS tools replace costly and resource-intensive legacy processes and eliminate financial risks, the company added, noting that these managed service offerings protect customer card payments efficiently and cost-effectively.
Partner-centric approach
Nikayin pointed out that Rivero’s culture is deeply rooted in open-book management, with each team member and client partner playing a pivotal role in shaping the company’s future. In addition, she noted, transparency and security best practices are central to the company’s ethos of maintaining bank-grade security standards.
“For us, the security and trust of our clients and partners are paramount, serving as the cornerstone upon which all our operations stand,” she said. “This commitment underscores our dedication to not just meeting but exceeding the expectations of those we serve, ensuring their confidence in every transaction.”
Nikayin went on to say that the world of payments is dynamic: enterprises need to meet the moment, not just by adapting but by aiming to be a driving force behind the change. Rivero is doing just that by accelerating its growth across new markets, boosting product development, and expanding its workforce, she said.
Nikayin added that Rivero recently secured $7 million in Series A funding to turbocharge the company’s expansion. Rivero remains excited and optimistic about the future, and its products are in demand, supported every step of the way by our amazing team, she affirmed. 
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