San Mateo-based anti-fraud specialist Feedzai announced this morning that they were unveiling apps for two major commerce platforms: Shopify and Big Commerce.
Nuno Sebastiao, CEO of Feedzai, said:
“Fraud is crossing channels where data breached from stores is then used to exploit commerce channels and vice versa. We see that 68 percent of cross-channel fraud starts online before migrating in-store. So we want to give all ecommerce retailers access to the tools necessary to help them protect their business.”
The new apps leverage Big Data and machine learning to provide fraud protection and transaction scoring for online retailers in real-time. Suspicious transactions are flagged, and merchants can use the app’s analytics to see reasons for the flat or to let the transaction proceed.
Retailers also have the ability to control which transactions are available for scrutiny, and the apps also come with a list of anti-fraud criteria (“human-friendly reasons to block or allow a transaction”) geared toward helping merchants decide which level of security is appropriate for their market and customers.
Features of the new apps include:
- Behavioral analysis
- IP geo-location
- Device ID recognition
- Disposable emails
The new apps will also have a simple user interface that evaluates each order, street-level maps to help locate IP addresses, and transaction summary reports available via email. Developers and those interested in taking a look under the hood can visit Feedzai’s Developer portal here.
Founded in 2008 and headquartered in San Mateo, California, Feedzai has raised more than $4 million in funding and includes both SAP Ventures and Data Collective among its investors. Feedzai operates in Europe, North and South America, Europe, and Africa. The company demoed its Fraud Prevention technology as part of FinovateEurope 2014 in London. See the company on stage here.