Frictionless, fraud-free transactions: Interview with Ranjan R Reddy, Founder and CEO of Bureau

By Puja Sharma

Headquartered in San Francisco, CA, Bureau also has offices in India and Malaysia. Bureau provides a one-stop platform that helps FinTechs to automate their decisions, prevent fraud, and power seamless user experiences. The firm provides an accurate and comprehensive picture of each customer so that businesses can confidently transact without fear of fraud.

Ranjan R Reddy, the Founder and CEO of the company, is a serial entrepreneur with over 17 years of expertise in mobile and digital space. IBS Intelligence interacted with Reddy to understand how Bureau is providing seamless and fraud-free transaction for both business and consumers.

Please shed some light on what Bureau does?

Bureau is ushering in a new era of frictionless, fraud-free transactions that deliver unprecedented trust and security to both businesses and consumers. Our full-stack no-code identity orchestration platform protects and accelerates onboarding, verification, and transactions—without introducing friction for the consumer. Bureau’s platform takes the complexity out of identity verification by tokenising it behind a phone number to let businesses focus on what matters most: growth.

What are its product offerings?

Bureau’s no-code platform helps businesses identify users, comply with policies and prevent fraud. It allows users to drag and drop custom risk rules tailored to their industry needs, built from our intelligence consortium. It enables the creation of a detailed profile of every user to power accurate authentication and fraud prevention (such as account takeover, promo abuse, synthetic identities, chargeback, amongst others) along with transaction monitoring.

• No-code Identity decisioning platform
• Identity Verification
• Compliance
• Address verification
• Fraud Detection

What is the need for data privacy in today’s day and age? How is Bureau helping companies prevent fraud?

As we accelerate towards a digital economy, our online and offline lives have merged. We now prioritise convenience, but this convenience comes at a cost. The cost is trust, safety, and security. Online trust & safety is the single biggest victim in an ever-growing world of opportunity the internet bestows us all with. But now, consumers are demanding accountability and control of their data. Hence, companies need to and are investing heavily in data security and data privacy infrastructure.

In the wake of increasing data leaks and alarming incidences of identity theft, ensuring the trust and security of identity will become a focal point for any business and every user. However, as additional layers of security envelop a platform, businesses will have to prioritise the user experience to not sacrifice growth to friction. Balancing friction and financial health will be imperative. Bureau’s zero-trust security approach takes the burden of verification away from the consumer and business owners via continuous authentication of users’ identities throughout their transaction journey without adding friction or wait time.

Please elaborate on how rich data signals at every point in the user journey of a business safeguards the business from financial and reputational loss?

Bureau’s platform helps businesses identify users, comply with policies and prevent fraud on a single platform. We have built a network of intelligence of over 100s unique data signals, combined with our proprietary device intelligence capabilities as well as capabilities from global partnerships. Our intelligence and fraud detection models have been trained on billions of data points unique to the Indian market and validated across a network of clients. Moreover, Bureau’s guaranteed fraud protection is unique in the market – every decision made on our platform is underwritten by a financial guarantee- that reimburses merchants for any fraud losses that occur under our watch.

By combining pre-integrated device, persona, phone, email, and behavior intelligence, a contextual view of a user’s identity and behavior is formed.  Performing an accurate identity verification and pre-empt fraud becomes easier, thereby safeguarding the business from financial and reputational loss.