Anti-fraud solutions provider Risk Ident has teamed up with Universum this week to strengthen risk evaluation capabilities for Universum’s clients.
As part of the agreement Universum will leverage Risk Ident’s FRIDA, a self-learning anti-fraud technology. FRIDA automatically analyzes individual transactions to establish relationships between transactions and quickly identify fraudulent connections. Retailers’ fraud managers receive an overview of flagged transactions, marking potential fraudulent activities, within seconds.
Universum will also deploy Risk Ident’s DEVICE IDENT, device fingerprinting technology that analyzes consumers’ devices and identifies fraudulent correlations with their use in real time. Retailers integrate DEVICE IDENT into the checkout page on their website and can quickly take action when the system notifies them of potential fraudulent activity.
“We are really looking forward to future cooperation. Above all, our retailers will benefit from this partnership: Risk Ident is the market leader in the fraud prevention sector, and will help improve the Universum Group’s risk evaluation,” said Ralf Linden, managing director of sales & marketing of the Universum Group.
Risk Ident was founded in 2012 by Roberto Valerio, who demoed EVE, the company’s evaluation engine, at FinovateEurope 2016. EVE is a standalone software application that offers machine learning-powered risk management technology that detects connections between transactions and previously unidentified fraud scenarios. Risk Ident is headquartered in Hamburg, Germany and Boston, Massachusetts. Earlier this year, the company was recognized as the Best Financial Transaction Security Company at the 2018 FinTech Breakthrough Awards.