Compare SEON vs Fraudio
This article will break down the features, pros, and cons of SEON and Fraudio in order to help you decide which is the right fraud prevention software for your business.
|Disclaimer: Everything you’ll read in this article was gleaned from online research, including user reviews. We did not have time to manually test every tool. This article was last updated in Q1 2023. Please feel free to contact us to request an update/correction.|
Fraudio is a provider of payment fraud detection, merchant risk monitoring, and money laundering detection services. The company has offices in the Netherlands, Portugal, and the UK.
The company was founded in 2019 by a collective of AI experts and data scientists who worked together at an acquiring bank. This is where the CRO João Moura became frustrated by the fraud detection solutions and decided to build a new solution.
In May 2021 they secured $3.3 million in a seed funding round and work with clients such as Viva Wallet, Borgun, Novalnet, WiPay.
- The company offers a cloud-based solution that focuses on an advanced machine learning algorithm, developed to collect customer data and pass it through billions of calculations in milliseconds.
- Traffic light system that offers opportunities to automatically accept, decline, or further investigate orders based on customizable thresholds.
- The Merchant-Intitiated Fraud Detection feature lets you identify suspicious merchant websites.
- Fraudio now also offers an AML solution based on anomaly detection and AI to detect suspicious transactions.
- API availability provides easy-to-integrate cohesion with other risk management solutions.
- A dedicated solution for identifying fraudulent merchants, ideal for payment service providers.
- Advanced machine learning that can analyze the entire ecosystem (payment service providers, payment gateways, acquiring banks, issuing banks, card schemes, and merchants).
- No data enrichment or social media lookup products, limiting the amount of knowledge you can acquire about a given customer.
- Their technology does not offer any form of live look-up, potential risk of stale data.
- Limited AML solution that only looks at transaction monitoring, not PEP or crime databases.
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SEON Vs Fraudio Features Comparison Table
|Email data enrichment||Yes||No|
|Phone data enrichment||Yes||No|
|Find user social media||Yes, checks 50+ platforms||No|
|BIN for transaction||Yes||No|
|Behavior tracking||Yes, via custom rules||Yes|
|User authentication||Via cookie and browser hash||No|
|Machine learning suggestions||Yes||Yes|
|Industry preset rules||Yes||Yes|
Integration / deployment
|Custom API fields||Yes||Yes|
|Integration with other tools||Yes||Yes|
|Cost per month||Pro version starting from €299.|
Free version also available.
|Fraudio starts from $1200 per month, although you will need to contact the sales team for more information about what that gets you.|
Where SEON Wins Over Fraudio
- SEON gathers more data sources for enrichment, looking at IPs, email addresses, and phone numbers.
- A focus on customization and flexibility gives greater power to fraud analysts who need to control risk as they see fit.
- Affordable pricing, and a completely free plan.
- More robust features for AML and KYC.
Where Fraudio Wins Over SEON
- A dedicated solution for identifying high-risk and fraudulent merchants.
- Geared towards payment service providers and acquirers.
SEON vs Fraudio Conclusion
- You want an affordable and complete fraud prevention solution with a solid AML and KYC featureset.
- You are a payment service provider or acquirer, issuer or merchant who needs to monitor transactions to weed out bad agents.
Learn more about:
Browser Fingerprinting | Data Enrichment | Device Fingerprinting | Fraud Detection API | Fraud Detection Machine Learning | Fraud Detection & Prevention
Try our free tools:
BIN Lookup | IP Lookup | Reverse Email Lookup | Reverse Phone Lookup | Social Media Lookup
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