SignalPrintTM Takes Aim at Fake, Shared and Synthetic Accounts that Cost Online Businesses $ Billions
Verosint, an innovator in online account fraud detection and prevention, today announced a new solution that helps organizations secure their online businesses and protect their customers in the face of ever-growing account fraud. With Verosint, companies can deliver frictionless access to legitimate customers, while blocking or challenging access by suspicious users.
Account fraud, where bad actors fraudulently login to web applications, is one of the fastest-growing crimes to threaten online businesses in recent years. This trend is likely to continue as criminals leverage the vast amount of personally identifiable information available on the dark web to steal credentials, manufacture synthetic identities, and fraudulently open new accounts. Bad actors cost online businesses by stealing, cheating, abusing bonuses, promotions, and reviews, and disrupting digital platforms. The consequences of online fraud can be monetary loss, brand or reputation damage, and ever-higher fraud handling costs.
Verosint addresses account fraud by detecting and preventing access by malicious users, protecting the accounts of true customers, and allowing businesses to safely and confidently do business online. Verosint is highly effective at detecting all types of account fraud, including fake or synthetic accounts, account takeovers, duplicate accounts, and shared accounts. Verosint’s predictive fraud analytics help businesses to detect account anomalies and risk factors faster and earlier in the user journey, before they cause downstream damage.
Verosint’s patent-pending SignalPrintTM technology predicts the likelihood of fraud based on capturing and tracking data about each user, enriching that data with open source intelligence (OSINT), and analyzing relationships and patterns to determine risk. Within milliseconds, Verosint assesses fraud risk and orchestrates workflows based on its Risk Decision Engine, ensuring that legitimate users are granted a smooth, low-friction transaction path, whereas suspicious users are automatically challenged or blocked to prevent fraudulent behavior.
“Account fraud is more prevalent, more sophisticated, and more capable of disruption than ever, and organizations need to proactively get ahead of fraud by blocking bad actors before they gain access,” said Stephen Schoaff, founder and CEO of Verosint. “By taking a predictive approach using data analytics, Verosint allows online businesses to make risk decisions faster and with greater accuracy. The sooner they detect fraud, the more likely they are to stop fraud losses and ensure a great experience for customers.”
Verosint Key Capabilities:
- SignalPrintTM User Identification – combines server-side data about the user with behavioral analytics to create a unique identifier for each user.
- Verified OSINT –enriches each user’s identifier with open source intelligence (OSINT) data points to generate a holistic profile of the user and a corresponding risk score.
- SignalPrintTM Identity Graphing – analyzes the relationships between users and flags anomalies based on patterns of behavior for a single user or related users, allowing the detection of duplicate accounts, shared accounts, or a web of connected accounts that may be a bot/click farm.
- Risk-based Decisioning – combines risk signals with customizable rules todefine how users can access systems and data. High-risk users can be challenged or blocked, while low-risk users get frictionless access.
- Extensible Integration Options –provides out-of-box integration with leading access management solutions to invoke multi-factor authentication when needed. Includes APIs to customize risk-based responses, such as block the login attempt, skip the sign-up bonus, or ban the user.
- Software-as-a-Service – as a SaaS solution, Verosint can be deployed in a matter of hours and is priced based on customer usage. Verosint makes it easy to start small and grow the service as needed.
Outwork, a partner relationship management (PRM) service provider and early Verosint customer, chose Verosint to protect and secure its partner e-marketplace, which allows businesses to interact with value-added resellers, brokers, and distributors. “Verosint allows us to block fraudsters and to confidently onboard partners, register deals, distribute marketing development funds, train partners, and analyze partner performance,” said Mario Tarabbia, CEO of Outwork. “The deployment of Verosint couldn’t have been easier. In less than a day, we were able to integrate Verosint with our Auth0 multi-factor authentication solution, using the pre-built integration between the two products.”
Verosint is generally available now with a free 14-day trial available at www.verosint.com.
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