6 Combatants In The War On Fraud
The advancement of technology gives us the ability to share information and communicate with others easily. However, fraudsters too often see this as an opportunity to steal private data and hack bank accounts. In no particular order, this list showcases several companies focused on developing ethical and cutting-edge techniques and applications to put an end to all types of fraud.
Let's start with Shift, at #1. Founded in France in 2014, the company aims to solve the challenges that face the global insurance industry, providing solutions that include fraud detection and claims automation.
Shift is comprised of data scientists, customer success advisors, and project managers. The company focuses on creating and using artificial intelligence solutions to help insurers meet their customers' needs.
We have BioCatch at #2. This company was founded in 2011 by Avi Turgeman, whose military intelligence background helped him pursue a theory that people interact with machines in unique, measurable ways.
BioCatch has a team of specialists in neural science, artificial intelligence, machine learning, and cyberterrorism and aims to address next-generation digital identity challenges by focusing on behavioral biometrics. Its goal is to provide industries, including banking and insurance, with seamless and secure online experiences.
Next up, at #3, is Art Fraud Insights. This company was founded by Colette J. Loll and is dedicated to cultural heritage protection. It specifically focuses on the prevention of art hoax, forgery, and antiquities trafficking.
AFI also undertakes research projects and specialized investigations, holds exhibitions, lectures, and training programs, and appears in documentary films. In addition, the company offers scholarships in the field of art fakes and forgeries.
Taking the #4 spot is Feedzai. Founded in 2009, the company aims to fight financial fraud with an advanced risk management platform powered by big data and machine learning technology. This is meant to promote customer satisfaction while increasing operational efficiency.
Feedzai aims to develop advanced AI and engineering solutions to ensure frictionless money flows in banking and commerce services while keeping people safe from financial crime. It uses a 4-prong approach that includes prevention, detection, remediation, and compliance.
Up at #5, we have ID Insight, which was established in 2003. This company helps financial institutions thwart fraud from both new and emerging threats. It develops solutions for account takeover prevention, identity and address verification, and more.
Through its fraud intelligence platform, knowledge of evolving hoax patterns, and data analytics, ID Insight helps banks, credit unions and issuers, retailers, and healthcare companies make information-based decisions.
Finally, we have the Fraud Advisory Panel, at #6. This nonprofit opened its doors in 1998 and brings together professionals from the public and private sectors to raise awareness about and prevent fraud.
The organization offers many resources such as consultations, online training, webinars, and targeted research and thought-leadership projects. Through these tools, it hopes to improve fraud resilience across society and around the world.