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News

SEON launches its solutions on AWS Marketplace

Tuesday 3 October 2023 09:27 CET | News

Hungary-based SEON has announced the launch of its suite of fraud prevention solutions on the Amazon Web Services (AWS) Marketplace.

Through this, businesses can access the company’s fraud management platform which integrates tools that detect and prevent potential threats. SEON’s AI-based solution enables companies to improve their ecommerce risk assessment accuracy, reduce false declines, and block fraudsters before they act. 

Hungary-based SEON has announced the launch of its suite of fraud prevention solutions on the Amazon Web Services (AWS) Marketplace.

SEON’s fraud prevention platform

Developed around a scoring engine, SEON’s platform allows businesses to leverage automated, real-time data checks to determine the likelihood of a user being fraudulent. The solution uses advanced data enrichment technology and can analyse approximately 50 data sources ranging from social media platforms to public databases to validate a person’s identity via one API call.

As fraudsters create synthetic identities from leaked data, SEON’s technology can detect them and determine how much friction to apply to each customer. This establishes whether the user can pass straight through the payment process or if they should be subject to additional checks.

Moreover, SEON provides an Anti-Money Laundering (AML) functionality, enabling fraud teams and Money Laundering Reporting Officers to collaborate in one space. By dividing traditional data and team silos, risk assessment teams can gain greater efficiency without having to integrate several platforms together.

SEON’s representatives stated that their team passed all the onboarding requirements for AWS Marketplace, including internal sales and technical training. The company now has a full AWS certification and, through this launch, it aims to expedite sales cycles, increase deal sizes, and improve win rates. Also, this move supports SEON’s commitment to democratise the tools to minimise online fraud. 

More information about SEON

Launched in 2017, SEON’s solution currently serves more than 5,000 customers across 30 countries. According to company data, since its release, SEON stopped approximately USD 170 million worth of fraud. Some fintechs that leverage the company’s multi-layered approach to online fraud prevention include Revolut, NuBank, Patreon, Afterpay, Sorare, and mollie.

At the beginning of February 2023, SEON expanded its capabilities by acquiring Complytron, an AML company. This allowed SEON to launch a unified fraud, AML, and fincrime platform, which combines APIs for real-time insights, sending instant notifications if an individual’s risk status changes.

Moreover, in January 2023, the company partnered with tbi bank to deploy its machine learning-based fraud detection platform. As part of the collaboration, tbi bank incorporates SEON’s online fraud prevention system into its customer onboarding journey. Through this, both companies want to deliver a safer financing experience to the bank’s customers, while integrating SEON’s tools to filter fraud attempts in real-time.

For more information about SEON, please check out their detailed profile in our dedicated, industry-specific Company Database.


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Keywords: fraud management, fraud detection, fraud prevention, identity fraud, online fraud, digital identity
Categories: Fraud & Financial Crime
Companies: Amazon Web Services, SEON
Countries: World
This article is part of category

Fraud & Financial Crime

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