Fraugster is an AI-based payment security company that enables ecommerce businesses and global payment companies to intelligently manage the impact of fraud on their business. Backed by some of Europe's most reputable deeptech investors, such as Earlybird, Speedinvest, CommerzVentures, and Munich Re Ventures, we support our customers to reduce false positives and the total cost of fraud while improving checkout experiences.
Technology
Native cloud
Geographical presence
Worldwide
Member of industry association and or initiatives
Information available upon request
Services
Unique selling points
Fraugster provides fraud prevention services to online merchants both via direct integration and through partner PSPs, minimising the integration effort. We offer a variety of solutions:managed services, including chargeback protection and revenue increase guarantee, a self service risk management suite (SaaS) as well as a hybrid model.
Pricing Model
Pricing is per transaction and based on volume and complexity OR SaaS-based pricing model
Fraud prevention partners
Other services
N/A
Third party connection
Ingenico ePayments, Ratepay, Worldline Six Payment solutions, CrefoPay
Technology: Identity verification methods
Authentication technology used
Proprietary AI technology which combines human accuracy and machine scalability. We developed the Fraugster AI Engine based on a behavioural science approach that mimics the thought processes of a fraud analyst. Instead of clustering transactions, as done in classical machine learning, our technology analyses the behavioural context of each transaction, in order to accurately block fraudulent transactions while approving legitimate ones. Built on self-learning algorithms, the AI Engine detects and adapts to new fraud patterns as they emerge. Combined with a machine computation power, it processes thousands of transactions within milliseconds, enabling unlimited growth.
Authentication context
Online
Mobile
Reference Data connectivity
Connectivity to governmental data
Other databases
Clients
Main clients/references
Ingenico ePayments, Six Worldline, Ratepay, Eurostep, DHL, Diana SRL, European GamesGroup, Iberostar to name a few.
‘Artificial Intelligence is the future of fraud prevention, and Fraugster’s FraudFree helps our merchants improve their performance.’ – Gabriel de Montessus, EVP Retail at Ingenico Group
‘Fraugster’s Fire is the perfect addition to our in-house machine learning platform. The flexible self-service rule engine allows our fraud analysts to quickly draft, test, and deploy anti-fraud rules directly into the real-time environment. Thanks to this cooperation, we can provide even greater customer experience to our merchants and their customers and help merchants drive revenue growth.’ – Nicolas Kipp, Ratepay, Chief Risk Officer
‘We chose Fraugster because it was the most sought out alternative to our previous solution. We said: let’s give it a try, and now we couldn’t be happier with the results. Our employee costs immediately went down once we eliminated manual reviews and our clients are now completely shielded from the trouble of chargeback costs.’ – Giovanni Marconato,CFO – Problem Solver, Eurostep
Future developments
More information available upon request