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Top 10 Startups developing AI for Fraud Prevention
Updated: February 07, 2024 | Editor: Siddhant Patel |
AI for Fraud Prevention can reduce manual review queues through fast iterating machine models, augment human decision-making with increased precision, reduce false positives with behavior analysis
1
Country: USA | Funding: $744.4M
Socure's Consumer Verification and predictive analytics platform increases customer acceptance rates while reducing fraud and manual reviews.
Socure's Consumer Verification and predictive analytics platform increases customer acceptance rates while reducing fraud and manual reviews.
2
Country: France | Funding: $540M
Shift Technology leverages the best of data science to automatically detect networks of fraudsters in insurance.
Shift Technology leverages the best of data science to automatically detect networks of fraudsters in insurance.
3
Country: UK | Funding: $370M
Quantexa has built a machine learning platform branded “Contextual Decision Intelligence” (CDI) that analyses disparate data points to get better insight into nefarious activity
Quantexa has built a machine learning platform branded “Contextual Decision Intelligence” (CDI) that analyses disparate data points to get better insight into nefarious activity
4
Country: USA | Funding: $300M
ZestFinance allows to increase approval rates, cut credit losses, and improve underwriting using machine learning underwriting platform. ZestFinance’s credit-decisioning platform helps lenders predict credit risk so they can increase revenues, reduce risk & ensure compliance.
ZestFinance allows to increase approval rates, cut credit losses, and improve underwriting using machine learning underwriting platform. ZestFinance’s credit-decisioning platform helps lenders predict credit risk so they can increase revenues, reduce risk & ensure compliance.
5
Country: Portugal | Funding: $277.5M
Feedzai is the market leader in fighting fraud and financial crime with today’s most advanced cloud-based risk management platform, powered by machine learning and artificial intelligence.
Feedzai is the market leader in fighting fraud and financial crime with today’s most advanced cloud-based risk management platform, powered by machine learning and artificial intelligence.
6
Country: UK | Funding: $188.8M
Onfido builds trust in an online world by helping businesses digitally verify people's identities. Our Identity Record Check cross-references your users’ details against a range of verified global databases and credit reference agencies.
Onfido builds trust in an online world by helping businesses digitally verify people's identities. Our Identity Record Check cross-references your users’ details against a range of verified global databases and credit reference agencies.
7
Country: USA | Funding: $38.7M
Inscribe helps finance organizations manage risks by enabling them to detect fraud, automate processes, and understand creditworthiness.
Inscribe helps finance organizations manage risks by enabling them to detect fraud, automate processes, and understand creditworthiness.
8
Country: UK | Funding: $36.7M
Ravelin is a smart fraud detection and prevention platform that helps companies stop online payment fraud.
Ravelin is a smart fraud detection and prevention platform that helps companies stop online payment fraud.
9
Country: Czech Republic | Funding: $30.4M
Resistant AI helps to protect AI systems from targeted manipulation, adversarial machine learning attacks and advanced fraud.
Resistant AI helps to protect AI systems from targeted manipulation, adversarial machine learning attacks and advanced fraud.
10
Country: USA | Funding: $29.4M
FraudScope aims to put more of our healthcare dollars towards patient care by reducing billing claims fraud.
FraudScope aims to put more of our healthcare dollars towards patient care by reducing billing claims fraud.
11
Country: Germany | Funding: $27M
Hawk:AI’s mission is to help financial institutions detect financial crime more effectively and efficiently using AI to enhance rules and find anomalies.
Hawk:AI’s mission is to help financial institutions detect financial crime more effectively and efficiently using AI to enhance rules and find anomalies.
12
Country: Singapore | Funding: $25.5M
CashShield is an enterprise risk management company that helps companies manage their risks from fraudulent payments and hostile accounts. CashShield’s algorithm trains itself in real time, functioning without the need for any data scientist or fraud analyst.
CashShield is an enterprise risk management company that helps companies manage their risks from fraudulent payments and hostile accounts. CashShield’s algorithm trains itself in real time, functioning without the need for any data scientist or fraud analyst.
13
Country: USA | Funding: $24.7M
Simility helps companies prevent fraud and abuse in real time with machine learning, big data analytics and data visualization capabilities.
Simility helps companies prevent fraud and abuse in real time with machine learning, big data analytics and data visualization capabilities.
14
Country: Israel | Funding: $25.4M
nSure.ai provides customers with their own AI/Machine learning model that specializes in combating fraud for high-risk digital transactions.
nSure.ai provides customers with their own AI/Machine learning model that specializes in combating fraud for high-risk digital transactions.
15
Country: UK | Funding: $21.3M
AI powered Claims Automation & Fraud Filtering for Insurance
AI powered Claims Automation & Fraud Filtering for Insurance
