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Rippleshot’s Anti-Fraud Solution Scans the Network to Detect Data Breaches at the Point of Sale

Rippleshot’s Anti-Fraud Solution Scans the Network to Detect Data Breaches at the Point of Sale
Rippleshot_hi_res_FS2014

This post is part of our live coverage of FinovateSpring 2014.

Rippleshot is up next, unveiling their security solution for protecting both the integrity of consumer credit data and the merchant payment network.

“Rippleshot technology scans credit card transactions across the entire payment network profiling merchant transactional behavior and looking for suspicious patterns. When fraudulent activity occurs on the network Rippleshot can quickly sort through hundreds of millions of credit card transactions to quickly identify the compromised point of purchase that all the fraudulent cards have in common. Since fraudulent spending with compromised cards takes place over weeks and months, quick detection helps banks reissue cards and stop fraud before it occurs, thereby saving over 25% in potential fraud losses.”
Presenting: Canh Tran (CEO & Co-Founder) and Lucas Ward (COO & Co-Founder)

Product Launch: April 2014
Metrics: $500,000 bootstrapped & 8 employees
Product distribution strategy: Direct to Business (B2B), through financial institutions, through payment processing partnerships with merchants
HQ: Chicago, Illinois
Founded: June 2013
Website: rippleshot.com
Twitter: @RippleAlerts