German Antifraud Provider Risk Ident Opens U.S. Headquarters

Risk Ident, an antifraud technology provider based in Hamburg, Germany, today announced it has opened a U.S. headquarters in Cambridge, Mass. The company’s DNA traces to the very beginnings of card-not-present commerce. It was formed in 2012 to address fraud within the Otto Group, a venerable collection of global e-commerce brands and former operator of the Spiegel catalogue. Dustin Clinard, the executive tapped to lead Risk Ident’s efforts in the U.S., characterizes Risk Ident’s solution as customized machine-learning software designed for the manual review teams of enterprise businesses.

“Our technology enables human fraud teams to make smarter decisions and minimize the gray area between an accept and a decline,” Clinard told “We made a strategic decision to serve mostly larger customers. Enterprises deal with more complicated fraud issues and are in need of better pattern spotting.”

Clinard said the technology is especially adept at recognizing patterns that emerge from organized fraud rings that are, themselves, using advanced technology to monetize stolen information in increasingly sophisticated ways. And, they are attacking individual businesses in very different ways, necessitating customized solutions.

“Fraud, even for similar enterprises, can be quite different,” he said. “The fraud patterns for two companies that look nearly identical are very often very different from each other. Our approach is customized for each company.”

Along with Risk Ident’s strong existing ties to MIT’s Media Lab, its proximity to a concentration of tech talent and companies make Cambridge a natural landing place for the company’s first U.S. foray.

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