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Company: Fraud.net, Inc., New York, NY
Company Description: Fraud.net operates the first end-to-end fraud management and revenue enhancement ecosystem specifically built for digital enterprises and fintechs globally. The award-winning, cloud-born platform helps organizations of all sizes harness AI-driven risk intelligence to detect fraud, streamline their customer onboarding and transaction monitoring workflows, & leverage real-time, actionable insights.
Nomination Category: Company / Organization Categories
Nomination Sub Category: Most Innovative Tech Company of the Year - Up to 100 Employees
 Nomination Title: Fraud.net
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the achievements of the nominated organization since January 1 2020, OR written answers to the questions for this category? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
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- If you are providing written answers for your submission, you must provide an answer to this first question: Briefly describe the nominated organization: its history and past performance (up to 200 words):
Total 196 words used.
Fraud.net provides a modern fraud management solution built specifically for businesses that want to stop fraud before it starts with 99.7% accurate AI-powered detection. The award-winning, user-friendly platform helps organizations of all sizes harness AI-driven risk intelligence to detect fraud, streamline case management, and leverage actionable insights to make them safer, smarter, and more profitable.
Fraud.net’s enterprise-grade capabilities are powered by deep learning, collective intelligence, rules-based decision engines, and streaming analytics. Its simple, modularized interface and deep integration with leading data and fraud management vendors provides unparalleled flexibility, customization, and ease of use. Through a single point of command, Fraud.net helps customers analyze billions of data points from various sources, track digital identities and behaviors, and combat fraud.
Fraud.net employs dedicated professionals with deep experience in e-commerce, financial services, data science, and advanced technology. It was founded in 2016 by Whitney Anderson and Cathy Ross, who recognized the need to empower business leaders with cutting-edge fraud prevention after spending over two decades working with financial institutions and online retailers. Fraud.net has been recognized for its fast growth and innovation by Accenture, Amazon Web Services, Gartner, Red Herring, and other organizations.
- If you are providing written answers for your submission, you must provide an answer to this second question: Outline the organization's achievements since the beginning of 2020 that you wish to bring to the judges' attention (up to 250 words):
Total 231 words used.
Since 2020, Fraud.net has had a series of wins, including new partnerships, accolades, and developments. In 2020, Fraud.net’s Cathy Ross presented our company at the Mastercard StartPath Summit and was also profiled in the New York Times. Additionally, Fraud.net won a Top Performer Award for Customer Success by Featured Customers, a directory ranking fraud solutions based on customer reviews. Later in the year, Fraud.net was recognized as a finalist by Red Herring in their Top 100 North America ranking. Previous Top 100 finalists have included Alibaba, Facebook, Google, Skype, Spotify, Twitter, and YouTube.
In 2021, Fraud.net won the Wealth & Finance award for Best AI-Driven Fraud Prevention Tech Platform, as well as awards for our AI Platform and for Insider Threat Detection from Juniper Research and CyberSecurity Breakthrough, respectively. We have also regularly won badges and recognition from Gartner, one of the leading research institutions and directories, for our highly-rated online fraud detection - we were also featured in their biannual market guide for online fraud prevention.
In the last two years, Fraud.net has protected over 1 billion transactions from fraud, saving our clients from losing their profits to financial crime. Additionally, we are proud to share our new partnership with Al Fardan Exchange, a leading MENA wealth management platform. Finally, we’ve recently released a solution built specifically for procurement teams to de-risk vendor onboarding.
- If you are providing written answers for your submission, you must provide an answer to this third question: Explain why the achievements you have highlighted are unique or significant. If possible compare the achievements to the performance of other players in your industry and/or to the organization's past performance (up to 250 words):
Total 230 words used.
Fraud.net is one of the first players in the risk management and financial technology sectors to create an AI-powered solution for Know-Your-Vendor (KYV). This practice is similar to Know-Your-Customer, as they both seek to ensure that the person or entity your business is transacting with is legitimate and trustworthy. Legacy solutions for KYV require tedious reviews and verification processes that often lead to gaps in protection. Our solution dramatically reduces that labor, leveraging our Application AI solution to quickly verify tax identification information, screen vendors against sanction lists, and more to de-risk outsourced vendors without the headache or potential vulnerability of manual processes.
Organizations like ours are also trusted over other existing solutions on the market - just look at our client lists! We are trusted by Arvato Bertelsmann, in our support and protection of their AfterPay solution, as well as Citibank, KPMG Bank, and ICBA, among others. We have also won some major awards for our outstanding solution, rewarded with a Platinum Award for our AI platform by Juniper Research, recognized by Wealth & Finance for our AI-Driven Fraud Prevention Tech Platform, and regularly named a leader in online fraud detection by Gartner. Our leader, Cathy Ross, has also been recognized for the prestigious Stevie’s Women in Business Awards, where she won a bronze award for her efforts in thought leadership whilst operating this award-winning fraud prevention company.
- You have the option to answer this final question: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 74 words used.
Our case studies outline the powerful fraud prevention we provide and the value our clients receive from our service. Additionally, we've attached a press kit displaying our compliance, accolades, and testimonials from our clients. Finally, we've attached press releases of our most recent announcements, our partnership with Al Fardan, and the release of our Know Your Vendor (KYV) Solution. We believe this will accurately reflect the value and innovation we provide at our company.
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