Hamburg-based fraud prevention expert recognised for its leading AI-based antifraud software

RISK IDENT, a leading provider of fraud prevention software, has been named Online Technology Vendor of the Year at the Retail Systems Awards 2018, which recognise technology excellence and innovation within the retail sector.

Winning entries come from retailers and technology suppliers who are leading the way in areas such as mobile, online, payments, loyalty and personalisation. The judges recognised RISK IDENT for its result-driven anti-fraud solutions for large companies within the e-commerce community.

Founded in Germany, which has long had a strict data privacy culture, RISK IDENT focuses on transactional risk management while safely and securely handling data. The company’s technology enables fraud teams to make smarter decisions and minimise the grey area between an accept and a decline.

“All of us at RISK IDENT are very honored that the esteemed judges of the Retail Systems Awards have recognised our innovative fraud prevention products,” said Roberto Valerio, CEO of RISK IDENT.

“We strive to keep the retail world as safe as possible from the rising threat of fraud with our machine-learning based software products. By minimizing the gray area between transaction accepts and declines, our products enable e-commerce businesses all around the word to address and reduce rampant threats such as payment fraud, account takeovers and identity theft. Just as fraudsters continue to evolve their tactics online, we continue to evolve our fraud prevention methods to help keep businesses stay one step ahead.”

With some of world’s largest online merchants as customers, RISK IDENT been able to establish a vast and high-quality device identification pool. The company has also gained unparalleled insight into how AI and machine learning can be developed to significantly reduce fraud.

Armed with these valuable assets, RISK IDENT developed three key products that enable optimal fraud identification, capable of automatically analysing millions of transactions, identifying patterns, calculating risk and accurately picking out fraudulent transactions in real-time.

In 2017, the company secured more than €40bn in transaction volume and also expanded to the US by opening up their headquarters at Cambridge Innovation Center (CIC) in Boston.