Sift launches new API and fraud protection features

Thursday 21 October 2021 13:14 CET | News

Sift, a US-based fraud prevention company, has announced the launch of several new capabilities for fintechs to capitalise on their growth opportunities while mitigating fraud.

The launch of these new features comes with investment in the sector reaching USD 98 billion in the first half of 2021 alone. According to the press release, as fintech companies continue to scale, attract, and retain users, fraudsters have firmly set their sights on the industry. In fact, according to Sift’s Q3 Digital Trust & Safety Index, fintech companies saw an 850% increase in account takeover (ATO) attacks between Q2 2020 and Q2 2021.

In order to ensure companies can grow while mitigating risk and protecting their users, Sift is introducing the following fintech-specific updates:

  • Fintech API: Improvements to Sift’s API now make integrating into Sift easier for fintech customers in a range of use cases, from cryptocurrency to PSPs and eWallets to remittances.

  • Know Your Customer (KYC) connectors: New Sift Connect integrations with KYC and ID verification services, including Onfido and Jumio, reduce integration costs and allow fintech companies to introduce appropriate friction for users without always relying on verification methods.

  • Zendesk connector: For businesses using both Sift and Zendesk to manage their trust & safety operations, the new Zendesk Connect app simplifies integration, reduces time spent in case review, and saves operational budget.

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Keywords: Sift, investment, fraud prevention, fintech, digital identity, API, KYC, identity verification
Categories: Fraud & Financial Crime
Countries: United States
This article is part of category

Fraud & Financial Crime