Both SEON and Fraud.net focus on offering a full fraud stack that includes compliance and regulatory features. What can Fraud.net do stacked up against SEON’s solutions? Or could they even work together? Today, we take a closer look.
Disclaimer: Everything in this article was gleaned from online research, including user reviews. We did not have time to manually test all the tools. However, we ensured the information was correct as of Q4 2022. Feel free to contact us to request an update/correction.
Fraud.net Key Features
• Fraud.net offers what it calls AIs, each with a different use case. There are two key AIs, called Application AI and Transaction AI.
• There is a wide range of Identity Services, that include IP verification and social media intelligence, along with MFA.
• Fraud.net offers a range of integration with other third-party fraud prevention solutions through its proprietary AppStore. It includes integrations with TransUnion, emailage, InAuth, Signifyd, and more.
• As part of its monitoring services, Fraud.net can offer dark web monitoring and an interesting industry benchmarking to compare your fraud rates with those of your peers.
Fraud.Net Pros and Cons
- Comprehensive partner network: On its journey towards being a true all-in-one offering, Fraud.net has assembled a network of partner products that can be integrated via its AppStore module. These partners provide complementary services in areas like ID verification, step-up authentication, KYC, AML, and social media lookups.
- Diverse module options: Fraud.net provides its customers with programs and modules that they need, regardless of vertical. Products like MFA, industry benchmarking, and darkweb intelligence provide specific solutions to specific pain points.
- Fast integration: Companies that need a total solution can expect Fraud.net’s stack to be ready to go within 30 days, according to their marketing documentation.
- Difficult to implement custom rules: According to reviews posted online, adding customized rules into your own deployment of the Fraud.net software requires communication with the Fraud.net developers, and the deployment process can be complicated as well.
- Integration challenges: Integration via the AppStore module is convenient for Fraud.net’s established partners, but does not necessarily have compatibility with other software outside of that partner network. The same is true for any software infrastructure within the company itself – integration will be challenging.
- No native AML checks: while you can integrate third-party services that may be able to help with KYC and AML, we couldn’t find an intuitive way to check PEP and sanction lists, for instance.
- No clear pricing or free trial available – you’ll need to speak to the company’s sales team to get an idea of how each module costs.
SEON’s advanced APIs and device fingerprinting provide fast, scalable fraud prevention solutions, no matter the size or ambition of your organization.
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SEON vs Fraud.net Features Comparison Table
|Email data enrichment||Yes||Yes|
|Phone data enrichment||Yes||Yes|
|Find user social media||Yes, 90+ platforms||Yes|
|User authentication||Yes, via hashes||Yes|
|Custom rules||Yes||Yes, via CS|
|Machine learning suggestions||Yes||No|
|Industry preset rules||Yes||Yes|
|Custom API fields||Yes||Yes|
|Integration with other tools||Yes||Yes, within partner network|
|Cost per month||Free plan available, with paid plans starting at $599 per month. For Premium Support, speak with an expert for a bespoke plan.||Not available – speak to their sales team|
Where SEON Wins Over Fraud.net
- SEON’s data is always real-time-fresh and doesn’t rely on any databases for its API calls. Fraud.net boasts an impressive collection of data points to reference, but also runs the risk of false positives (or false negatives) from stale data.
- Transparent API-based pricing, with an option to try before you commit to any kind of monthly contracts.
- You need a cost-effective anti-fraud product that works with your payment ecosystem, and customizability and modular flexibility are important for your business.
- Your fraud prevention team wants a lookup tool with no risk of stale data and up-to-the-second risk signals from live API calls.
- You need a fraud solution with easily-implemented custom rulesets, as well as the out-of-the-box power of both whitebox and blackbox MLs so you can hit the ground running.
- You are looking for a total all-in-one solution that includes both fraud prevention and tools to mitigate the fallout from any breaches you may experience.
- You want a fraud solution that offers perspective to multiple levels of your company, from executive to security – especially if you also need to integrate AML features natively
- You are dealing with persistent data security concerns, like compromised business emails and even top-down issues like collusion and insider threats.
See our real-time fraud prevention solution in action, boasting unique digital footprinting, granular reporting, custom risk rules and machine learning.
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