Simility Launches Fraud Platform at CNP Expo
May 26, 2016
Palo Alto, Calif.-based startup Simility today launched its fraud prevention platform globally. The antifraud technology provider, whose leadership left Google to start the company, uses what it calls “device recon”—a proprietary device ID assessment—along with human analysis and machine learning to root out fraud for e-commerce merchants. The Silicon Valley company said its technology reduced fraud in beta tests by 50 to 300 percent while improving their false positive rates at the same time, according to Co-Founder and CEO Rahul Pangam.
“Because different customers have different business models, user profiles and risk tolerances, we provide a versatile platform that lowers fraud rates and reduces friction to good users at the same time,” Pangam said. “Our aim is to put the key insights and controls in your hands, so your fraud management decisions can be fast, accurate and fully informed.