SEON partners with Provenir to build new fraud prevention solutions
By Joy Dumasia
SEON announce a new partnership with Provenir, a global leader in AI-powered risk decisioning software for the FinTech industry. The exciting partnership will help organizations to build powerful new fraud prevention solutions.
With its innovative technology, Provenir provides an AI-powered decisioning platform to assess risk in areas like identity, credit, and fraud. The company prides itself on working with world-class partners, such as SEON, who can provide technology that can be incorporated within its Marketplace ecosystem.
Carol Hamilton, Senior Vice President, Global Solutions, Provenir, added: “We’re excited to have SEON join the Provenir Marketplace to help customers gain real-time insights from social and digital sources to verify identity and combat fraud. SEON’s rich data and flexibility allows customers to customize their rules and risk models as needed to make instant, accurate decisions.”
The Provenir Marketplace provides organizations with a one-stop data hub that makes it easy to access information covering Open Banking, KYC/KYB, fraud, credit risk, verifications, social media, collections, affordability and more. This comprehensive FinTech data and business intelligence ecosystem combine offerings from data vendors around the globe into one easy-to-use cloud solution for data consumption.
In real-time, SEON’s powerful system can establish an individual’s digital footprint based on their email address, phone number, IP address, or location. This GDPR-compliant approach to analyzing a user’s digital footprint helps companies accept more transactions while blocking fraudulent ones. This service provides secure customer identification while not interfering with the optimal customer journey.
As a business, SEON is on a mission to provide more digital businesses with access to the best fraud prevention solutions. This goal is now more important than ever, particularly as businesses worldwide battle for financial recovery and survival amidst a continued economic downturn. By partnering via the Provenir Marketplace, SEON and Provenir are helping such businesses to better defend against fraud.
Jimmy Fong, CCO at SEON, commented: “SEON and Provenir perfectly complement each other, which makes our new partnership a match made in heaven for businesses across a number of sectors. From the first interactions, it was clear that our two businesses’ visions were fully aligned. Now, together, we will improve experiences for users across the company’s platform while reducing the risk of fraud.
Provenir is a great partner as they target identity, fraud and credit risk. Now, with access to our data sources, the company is able to provide customers with more data choices to include in their credit risk management solutions. In addition, our technology is helping to enrich know-your-customer (KYC) checks to further mitigate the risk of fraud and to enable better customer decisions. By working collaboratively, we’re able to ensure this process is as seamless and straightforward as possible.”
Recently, IBS Intelligence reported that SEON, a London-based Anglo-Hungarian startup that powers online fraud prevention, raised $94 million in Series B funding. Led by Silicon Valley-based IVP, the round also includes existing investors Creandum and PortfoLion, as well as angel investors, including founders and senior executives from the very best product-led tech companies: Aiven, Coinbase, DataDog, DoorDash, Figma, G2, GitHub, Public, Slack, Supercell, UiPath, Veriff, and Wise.