Sift announces new platform capabilities

To address the current issues, Sift introduced several new features specific to the payments ecosystem, including expanded payment coverage, weighted cohort ML modelling, and customisable UX. The company now provides non-traditional payment automation, investigation, and ML model training. Fintechs that want to facilitate an extended range of payment methods and have a deeper knowledge of how end-users make payments, can leverage the Sift Console to allow fraud teams to use insights across a variety of payment methods, including ACH, wire, SEPA, prepaid card, and crypto-specific transactions.

Moreover, Sift improved its machine-learning capabilities by offering an ensemble of multi-tiered ML models, which encompass similar, as well as global, and tailored customer cohort models. Through this, fintechs can directly leverage Sift’s global network while also analysing fraud patterns that are unique to their industry and emerging payment trends.

The company also allows its customers to tailor the payment fraud prevention experience for traditional and emerging payment signals, with the ability to move risk data into a personalised format within the Sift Console for accelerated case resolutions. 

With its solutions, Sift dynamically prevents fraud and abuse through technology and expertise, a global network of one trillion events per year, and a commitment to long-term customer partnership. Some of the company’s clients include DoorDash, Twitter/X, and Poshmark, among others. Recently, Sift announced new reseller and integration partnerships to expand its reach and allow complete customer journey protection. Through its Partner Program, Sift entered relationships with Spec, MoneyHash, BR-DGE, and DEUNA, as well as with Incode, Scudetto, and Acensi Cyber. These collaborations intend to enable customers to leverage Sift’s machine-learning technology and global data network as part of a full-stack digital risk solution.

Moreover, in September 2023, Sift upgraded its Dispute Management solution by integrating PayPal and Adyen. Through this, the company intends to provide merchants with a more accurate, efficient, and convenient way of managing chargebacks. By integrating Adyen and PayPal into its Dispute Management solution, Sift allows customers to absorb chargeback data, dynamically deliver disputes according to network requirements, confirm dispute response delivery, and view outcome updates.