\u00a0\u00a0<\/span> Signifyd<\/span><\/a><\/h1>\n<\/li>\n<\/ol>\nSignifyd was founded in 2011 in San Jose, California and, having managed to raise $56 million (approx. $70 million AUD) to help protect against e-commerce fraud<\/a> this year alone, it\u2019s fair to say the company is without a doubt one to watch in 2017. Bain Capital Ventures, Menlo Ventures, and American Express were some of the biggest contributors to the cause and Signifyd boasts the likes of Jet.com, Peet\u2019s Coffee, and Lacoste, amongst others, as clients.<\/span><\/p>\n![\"\"](\"https:\/\/lh3.googleusercontent.com\/44AMFmabM92HA7FOwbQCSjAPclAmPMmETOaJUqM4LAgkVRkati9eddSksGYtv5ecGnucTxsv8m0pX8koj1hpKGrY39kSglrcSkHR14mLi7lvH3r4Q0p73WsZk6ZtayCG133r0G4u\")
Customer Success Story<\/p><\/div>\n
Signifyd\u2019s clever software uses what they call a \u2018machine learning platform\u2019 to detect potentially fraudulent activity<\/a> in real-time and, so confident are they in the effectiveness of the technology, the company offers a guarantee to all clients, meaning if the system fails to spot an act of fraud, Signifyd accepts liability.<\/span><\/p>\nThis is a big deal for online merchants who, for many years, have had to deal with the headaches and lost revenue caused by these \u2018chargebacks\u2019. So far, over 5,000 businesses are using Signifyd to guard against fraud and, what with the latest round of investments, this number looks set to grow and grow.<\/span><\/p>\nThe business is attracting a lot of attention from big-time investors; last year the company managed to raise $39 million (approx. $49 million AUD). CEO Rajesh Ramanand says the company plans on using the money to double its engineering workforce and expand operations internationally, focussing particularly on Australia and Europe.<\/span><\/p>\n\n- \n
\u00a0\u00a0<\/span> Sift Science<\/span><\/a><\/h1>\n<\/li>\n<\/ol>\nArguably Signifyd\u2019s closest rival is another California-based company named Sift Science. Also founded in 2011, San Francisco-based Sift Science utilises similar technology to that of Signifyd to ensure customers are protected against fraudulent transactions.<\/span><\/p>\nFacilitating the largest trust network on the web, Sift Science has so far managed to raise an impressive $53.5 million (approx. $67 million AUD) in funding. Its last round of funding closed back in July of 2016 so, given their recent success, it\u2019s likely they\u2019ll be seeking further investment soon so watch this space.<\/span><\/p>\nLike Signifyd, Sift Science uses Real-time Machine Learning to accurately predict which users are trustworthy and which aren\u2019t. In addition to this, another great service Sift Science offers is it allows businesses to customise each user\u2019s experience based on their unique \u2018trust score\u2019.<\/span><\/p>\n![\"\"](\"https:\/\/lh6.googleusercontent.com\/8qp3B-MTqSJtd309yrxnio_m_2m5IYnkPfTnNE31Uwe-8kW0cOrPxzhTtO7IdzRAwqd_K7IyVSsgrDaiuqirs6XMKk0gBXOgAWcUFOyzwIE1mQPHBCPlJbKZpr40C21poTJe2-K8\")
How the fraud scoring works<\/p><\/div>\n
Obviously, when predicting a user\u2019s trustworthiness, it isn\u2019t always black and white, so to speak \u2013 there tend to be degrees of trustworthiness and, as such, Sift Science caters to this in a bespoke manner. This leads to more revenue, higher conversion rates, and of course, less fraud and abuse.<\/span><\/p>\nOn top of this, Sift Science offers another set of products which help detect account abuse, content abuse, and promo abuse so businesses can feel fully protected from all criminal activity. Interested parties can try Sift Science\u2019s service for free by visiting Sift Science\u2019s website.<\/span><\/p>\n\n- \n
\u00a0\u00a0<\/span> Forter<\/span><\/a><\/h1>\n<\/li>\n<\/ol>\nForter is another promising up and comer in the world of e-commerce fraud prevention. Based out of New York City and founded in 2013, Forter managed to secure $32 million (approx. $40 million AUD) Series C funding led by Scale Venture Partners, with follow-on funding from Sequoia and NEA.<\/span><\/p>\nLike its competitor Signifyd, Forter is so sure of the accuracy of its \u2018Decision as a Service\u2019 algorithms that it offers retailers a 100% guarantee against chargebacks after the fact. More and more online merchants are opting for real-time fraud prevention services as the threat of fraud increases with each passing year.<\/span><\/p>\nForter\u2019s own research indicates that a whopping 2.7% of all online transactions are attempts at fraud and what\u2019s worse for retailers is the fact that the vast majority of chargebacks are fraudulent. This so-called \u2018friendly fraud\u2019 occurs when customers use the chargeback system built into their credit cards instead of dealing with the merchants directly.<\/span><\/p>\n![\"\"](\"https:\/\/lh4.googleusercontent.com\/ras8f17TUGxlBchxuEiKQwp14663xGpyLZjACWaXHbUCqjWTbCxc9Pia_I_mKDGz_ElCO5n5NH0qLZvyiIpXjDVow916qmZezKGzKFUdL4F4AGo_eXrPdw7H6X9ws2jca1__qjBr\")
Forter features<\/p><\/div>\n
\u201cIn today\u2019s world of growing fraud attacks, we want to completely remove the fear of fraud from e-commerce and help retailers capture more sales,\u201d said Michael Reitblat, CEO at Forter. The company\u2019s efforts to tackle online fraud appear to be working with Delivery.com, one of Forter\u2019s top clients, reporting almost a 70% decrease on its chargebacks; and, as the system becomes more sophisticated, the number of chargebacks is likely to continue to diminish.<\/span><\/p>\nThe success of companies such as Forter is good news for everyone involved (except, of course, those pesky scammers). Merchants enjoy higher conversion rates, credit card companies don\u2019t fear being held liable for fraud, and consumers enjoy a better service.<\/span><\/p>\n
Customer Success Story<\/p><\/div>\n
Signifyd\u2019s clever software uses what they call a \u2018machine learning platform\u2019 to detect potentially fraudulent activity<\/a> in real-time and, so confident are they in the effectiveness of the technology, the company offers a guarantee to all clients, meaning if the system fails to spot an act of fraud, Signifyd accepts liability.<\/span><\/p>\n This is a big deal for online merchants who, for many years, have had to deal with the headaches and lost revenue caused by these \u2018chargebacks\u2019. So far, over 5,000 businesses are using Signifyd to guard against fraud and, what with the latest round of investments, this number looks set to grow and grow.<\/span><\/p>\n The business is attracting a lot of attention from big-time investors; last year the company managed to raise $39 million (approx. $49 million AUD). CEO Rajesh Ramanand says the company plans on using the money to double its engineering workforce and expand operations internationally, focussing particularly on Australia and Europe.<\/span><\/p>\n Arguably Signifyd\u2019s closest rival is another California-based company named Sift Science. Also founded in 2011, San Francisco-based Sift Science utilises similar technology to that of Signifyd to ensure customers are protected against fraudulent transactions.<\/span><\/p>\n Facilitating the largest trust network on the web, Sift Science has so far managed to raise an impressive $53.5 million (approx. $67 million AUD) in funding. Its last round of funding closed back in July of 2016 so, given their recent success, it\u2019s likely they\u2019ll be seeking further investment soon so watch this space.<\/span><\/p>\n Like Signifyd, Sift Science uses Real-time Machine Learning to accurately predict which users are trustworthy and which aren\u2019t. In addition to this, another great service Sift Science offers is it allows businesses to customise each user\u2019s experience based on their unique \u2018trust score\u2019.<\/span><\/p>\n How the fraud scoring works<\/p><\/div>\n Obviously, when predicting a user\u2019s trustworthiness, it isn\u2019t always black and white, so to speak \u2013 there tend to be degrees of trustworthiness and, as such, Sift Science caters to this in a bespoke manner. This leads to more revenue, higher conversion rates, and of course, less fraud and abuse.<\/span><\/p>\n On top of this, Sift Science offers another set of products which help detect account abuse, content abuse, and promo abuse so businesses can feel fully protected from all criminal activity. Interested parties can try Sift Science\u2019s service for free by visiting Sift Science\u2019s website.<\/span><\/p>\n Forter is another promising up and comer in the world of e-commerce fraud prevention. Based out of New York City and founded in 2013, Forter managed to secure $32 million (approx. $40 million AUD) Series C funding led by Scale Venture Partners, with follow-on funding from Sequoia and NEA.<\/span><\/p>\n Like its competitor Signifyd, Forter is so sure of the accuracy of its \u2018Decision as a Service\u2019 algorithms that it offers retailers a 100% guarantee against chargebacks after the fact. More and more online merchants are opting for real-time fraud prevention services as the threat of fraud increases with each passing year.<\/span><\/p>\n Forter\u2019s own research indicates that a whopping 2.7% of all online transactions are attempts at fraud and what\u2019s worse for retailers is the fact that the vast majority of chargebacks are fraudulent. This so-called \u2018friendly fraud\u2019 occurs when customers use the chargeback system built into their credit cards instead of dealing with the merchants directly.<\/span><\/p>\n Forter features<\/p><\/div>\n \u201cIn today\u2019s world of growing fraud attacks, we want to completely remove the fear of fraud from e-commerce and help retailers capture more sales,\u201d said Michael Reitblat, CEO at Forter. The company\u2019s efforts to tackle online fraud appear to be working with Delivery.com, one of Forter\u2019s top clients, reporting almost a 70% decrease on its chargebacks; and, as the system becomes more sophisticated, the number of chargebacks is likely to continue to diminish.<\/span><\/p>\n The success of companies such as Forter is good news for everyone involved (except, of course, those pesky scammers). Merchants enjoy higher conversion rates, credit card companies don\u2019t fear being held liable for fraud, and consumers enjoy a better service.<\/span><\/p>\n\n
\u00a0\u00a0<\/span> Sift Science<\/span><\/a><\/h1>\n<\/li>\n<\/ol>\n
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\u00a0\u00a0<\/span> Forter<\/span><\/a><\/h1>\n<\/li>\n<\/ol>\n
![\"\"](\"https:\/\/lh3.googleusercontent.com\/qdhxhnPNuFcfv0_JRkh7vZOXpL8R3dzUGLNO2cdTQn8c4T22Gm2oT4u92tka6DcFM5tOqMubwnvmI4vZK-hhgNKgnQH1u0odt0ykfCzrw_4E2lBD4_lzd1KPh61rzSo_6wt6rQHb\")
![\"\"](\"https:\/\/lh4.googleusercontent.com\/IyTZj9oBf0PmJ8gBT5I06OzB4oy4P6pupiK4Rt8QJQDQXZyfA7gq33lDMIkoCCbOryCBPV7GPKBlxocEO0v2elZ-6CmQNxsJ3JJu7lTboUJ-J4W5v0UvhPbRcwzE8tGBN76Wms-4\")