×


Home About Contribute Sponsorship Contact Sign In
×







.


Technology Industry News

Fraud.com launches to tackle rising fraud


Fraud.com has been launched to provide an industry-leading fraud prevention solution to tackle the rising problem across the business world.

Fraud.com launches to tackle rising fraud


"It can be tempting to think fraud is only a problem for banks or payment operators, but the reality is far wider."
Emre Sayin



The platform, backed by Telefónica Tech Ventures, aims to streamline fraud detection and prevention to reduce criminal activity by bringing three systems under one end-to-end solution.  

According to UK Finance, financial fraud losses across payment cards, remote banking and cheques totalled over £738 million in 2020 as criminals become more sophisticated in their attack methods and more products and services are brought online. 

Fraud.com products - Udentify, aiReflex and fcase - offer businesses an integrated way to detect, manage, and report fraud within their organisations more efficiently. According to Emre Sayin, Fraud.com’s founder and CEO, these threats and their associated financial losses will only become more severe over time. 

Sayin said: “It’s both an exciting and a daunting time to be working in the field of fraud detection and prevention. On the one hand, the growing threat to businesses and customers is worrying; on the other, the pace at which technology is developing to address more sophisticated attacks, such as deep fakes, is inspiring.” 

The team behind Fraud.com have been at the forefront of developing leading anti-fraud technology for several years. Each of the three products in the Fraud.com platform use the latest AI, face & voice verification, and liveness detection technology to support the end-to-end user journey. 

Udentify uses AI to prove someone is who they say they are; aiReflex is a fraud prevention suite that helps identify and prevent complex fraud scenarios; and fcase ties all the products together, acting as a centralised automation hub. 

“We knew there was a market appetite for a platform which harnessed the latest technology and provided an accessible and easy way to implement a fundamental fraud protection framework,” said Sayin. “Businesses understand the financial, legal and reputational risks posed by fraud, but fragmented approaches to fraud management or sub-standard systems means that often the protection isn’t there for their customers and their organisations. 

“It can be tempting to think fraud is only a problem for banks or payment operators, but the reality is far wider. Any organisation that needs to verify customer identities, handle transactions – essentially prove someone is who they say they are – is vulnerable to fraud, and as the fraudsters become more sophisticated, so must the systems that stop them.” 

Fraud.com operates across various sectors, including banking, financial services, insurance, gaming, healthcare, and telecommunications. 

Organisations often have separate systems or teams to handle each stage of fraud detection and prevention. Fraud.com wraps these unique functions into one, allowing efficiencies to be made both in terms of cost, in-house resource and outcome. Better management of fraud prevention and operations management has a direct impact on customer loyalty. Fraud.com is live now. Visit www.fraud.com for more information about the platform. 

.


Technology Business News - Couples looking to separate may be able to use artificial intelligence to help sort out their divorce from dividing assets to parenting arrangements. Technology has played a key role in resolving disputes in recent years including analysing large amounts of data and managing risk.


Artificial Intelligence helps divorcing couples - but poses risks

Technology Business News - This year, the UK became the first country to allow self-driving cars on motorways at low speed.


Are British Roads Capable of Catering to Autonomous Vehicles?

Technology Business News - Poor indoor air quality can be defined by high levels of pollutants in the air, such as dust, mould, toxic chemicals and viruses. Any one of these factors can exacerbate health problems, including asthma, allergies and chronic obstructive pulmonary disease COPD .


A breath of fresh air - improving indoor air quality

Technology Business News - An economics graduate who first traded in the stock market as a schoolgirl is behind the development of an app to encourage sustainable investing. Nikki Hawkes, 26, is the co-founder of Stratiphy, which has raised more than 440,000 in crowdfunding from 700 investors in 53 countries.


Economics graduate behind app encouraging sustainable investing

Technology Business News - Businesses in our mind s eye tend to fall into two categories. We separate traditional, old-world industries from the new and modern. But the lines are becoming blurred.In the past, any heavily digitised business that relied on heavily on tech was in the latter category, but this is now becoming the norm.


Traditional industries on the verge of an innovation boom

Technology Business News - Invisible Systems, the tech firm responsible for delivering the technology and digital platform, that enables the NHS to continuously monitor the temperature of COVID-19 vaccines, has appointed Jamie Robertson as Chief Executive Officer. Robertson s appointment became effective on 22nd November.


Tech Firm Invisible Systems Appoints Chief Executive Officer






Ten Times Ten

Analytics, Modelling & Business Intelligence Specialists