Company Research Report on Fraudio
Company Overview
Name: Fraudio
Mission: Fraudio aims to decomplexify and disrupt the payment fraud detection and anti-money laundering industries through its patent-pending AI super brain technology.
Founded: No information is available
Founders: João Moura and Nathan Trousdell
Key People:
- João Moura, CEO & Co-Founder
- Nathan Trousdell, COO & Co-Founder
- Claire Scott-Hayes, Head of Product & Co-Founder
- Robin Vastenou, Data Scientist & Co-Founder
- Oswin Frans, Lead ML Engineer & Co-Founder
Headquarters: Amsterdam, Netherlands (with additional offices in London, Lisbon, and Barcelona)
Number of Employees: No information is available
Revenue: No information is available
What is the Company Known For: Fraudio is known for its innovative approach to fraud detection and AML solutions. It leverages a centralized AI brain to provide comprehensive fraud protection across the payment ecosystem, benefiting merchants, payment service providers, card issuers, and banks.
Products
1. Payment Fraud Detection
High-Level Description:
Fraudio offers a sophisticated solution for detecting fraudulent transactions using AI and machine learning techniques.
Key Features:
- Instant fraud detection with no integration/setup costs
- Fully configurable risk appetite thresholds
- Reduces false positives to maximize conversion
- Constant machine learning updates for future-proof protection
- Fast response times (below 100ms)
2. Merchant Initiated Fraud Detection
High-Level Description:
This tool continuously monitors merchant behavior to detect irregularities and fraudulent activities in real-time.
Key Features:
- Integrates with the payment fraud detection platform
- Continuous monitoring of risk indicators
- Alerts and comprehensive reporting
- Facilitates real-time responses
- Reduces costs related to merchant onboarding and portfolio risk
3. Anti-Money Laundering (AML) Solution
High-Level Description:
Fraudio’s AML solution offers swift implementation and continuous monitoring to detect suspicious transactions and ensure compliance.
Key Features:
- Fast integration and go-live in weeks
- Explainable AI/ML reducing false alerts
- Customizable configurations to fit specific business needs
- Automated compliance checks and regulatory reports
- Pay-for-use pricing model ensuring cost-efficiency
- Cloud-based scalable infrastructure
4. Authorised Push Payment (APP) Fraud Detection
High-Level Description:
Focused on protecting financial institutions from APP fraud, this solution uses real-time monitoring and AI to prevent unauthorized transactions.
Key Features:
- Real-time responses to suspicious activities
- Customizable defense mechanisms based on unique risk profiles
- Detailed dashboards for comprehensive insights
- Self-learning AI models leveraging network effects
5. Money Mule Detection
High-Level Description:
This solution detects money mule activities by analyzing account behavior for signs of illicit fund transfers.
Key Features:
- Immediate alerts on suspicious account behavior
- Advanced big data and AI-driven insights
- AI that adapts to emerging financial crime trends
- Comprehensive reporting on suspicious accounts
Recent Developments
Recent Developments:
- No specific dates or details about recent developments are provided. However, the company has made significant strides in expanding its product suite and geographical reach up to 2023.
New Products Launched:
- Updated product suite in 2023, including advanced AML, Payment Fraud Detection, and Merchant Initiated Fraud Detection products.
New Features Added to Existing Products:
- Implementation of self-learning AI models
- Enhanced explainable AI/ML features
- Customizable defense mechanisms for fraud detection tools
Any New Partnerships:
- Partnership with Fazz Financial to expand into South-East Asia in 2022
- Working with multi-billion dollar businesses like SaltPay and Viva Wallet
Trusted By
- Viva Wallet
- WiPay
- IXOPAY
- Bold.co
- LOQR
- ePayco
- SaltPay
Conclusion
Fraudio continues to push the boundaries of fraud detection and AML solutions, leveraging cutting-edge AI technology and a centralized dataset approach. Its products provide scalable, future-proof protection for a diverse client base from merchants to large financial institutions. With ongoing innovation and strategic partnerships, Fraudio is positioned as a leader in the fraud detection industry.