SAN FRANCISCO, Feb. 20, 2024 (Globe Newswire) — sift, the AI-powered fraud platform that ensures digital trust for the world’s leading businesses, today introduced the era of AI-powered fraud determination, marking a significant turning point for the industry and the enterprise. Today’s announcement reflects a year of impressive growth, innovation and industry recognition and strengthens Sift’s differentiated position in an evolving market.
“2023 was a year of rapid and significant change for the digital fraud and identity industry and for Sift,” said Kris Nagel, CEO of Sift. “Our strategic investments have enabled Sift to grow its customers and expand its global data network, continue product and data science innovation, and further excel in the markets we serve. We’re really energized for next year.”
According to a report in September 2023 study In a Liminal survey of 88 major merchants across geographies, 98% of respondents believe that AI-powered fraud attacks have had a significant impact on the level of fraud their business has encountered in the past two years. We have identified that
“As fraudsters leverage AI to cause harm at an unprecedented scale, digital companies must respond with equal force,” said Armen Najarian, Chief Marketing Officer at Sift. . “Sift is proud to lead the era of AI-powered fraud determination and help the global digital business community fight the fire and grow without fear.”
To learn more about the era of AI-powered fraud determination, visit the all-new Sift.com to read more. Today’s blog post.
Strengthening a strong management team
In 2023 and early 2024, Sift achieved significant milestones, including the addition of several industry veterans to its leadership team, including:
Driving customer-centric innovation
recently sifted announced The milestone of 40 patents granted or granted by the United States Patent and Trademark Office (USPTO) demonstrates continued innovation, differentiation, and dedication to developing innovative technologies that prevent fraud and unlock customer growth. It shows an attitude.
In 2023, the company made significant investments in core machine learning and AI technologies to detect fraud and patterns. Popular workflow features. This allows fraud and risk teams to automate and manage business fraud logic and streamline reviews within the Sift console. WatchTower is an internal feature that detects customer traffic anomalies and fraudulent decision patterns.
Unraveling the fraud industry benchmarks
In late 2023, the company will launch a fraud industry benchmark resource (fiber) is a first-of-its-kind online tool that makes key fraud metrics accessible to anyone across industries, geographies, and time. FIBR allows fraud and risk professionals to benchmark their business’ payment fraud attack rates, fraudulent chargeback rates, and manual review rates against industry averages aggregated over time. These insights can be used to inform risk decision-making goals and analyze how different fraud trends impact different industries.
Show off your industry reputation
Sift won several industry awards in 2023 and early 2024, including:
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Recognition as a leader Forester Wave™: Digital Fraud Management, Forrester Research, Q3 2023. The company was the only private company leader named in the report.
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be nominated Recognized as a G2 leader in fraud detection, e-commerce fraud detection, and risk-based authentication for 11 consecutive quarters.
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win Named Top Fraud and Financial Crime Solution by PayTech Awards USA.
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gain Built In has multiple placements on its list of “Great Places to Work.”
About shifts
Sift is an AI-powered fraud platform that secures digital trust for major global businesses. Our deep investments in machine learning and user identity, a data network that records 1 trillion events per year, and a commitment to long-term customer success enable our 700+ customers to grow without fear. Brands like DoorDash, Yelp, and Poshmark rely on Sift to enable growth and provide seamless consumer experiences. Visit and follow us at sift.com linkedin.
Media contact:
victor white
Senior Director of Corporate Communications
press@sift.com
