This article will break down the features, pros, and cons of both companies as well as recommendations to help you choose the platform that’s right for you.
Disclaimer: Everything written about the companies mentioned 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 Q3 2022. 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.
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.
- API availability provides easy-to-integrate cohesion with other risk management solutions.
- Actively against siloing data (similar to SEON).
- 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.
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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||Starting from €99.||Priced per-transaction, contact sales|
Where SEON Wins Over Fraudio
- SEON’s Intelligence Tool enriches data by also checking more than 40 social media accounts in real-time to create a fuller digital footprint of a user. This enables you to make a more informed risk assessment decision.
- A more modern UX design which makes for an easy to use, intuitive platform.
- Real-time data enrichment beats stale data as it provides a direct overview of the given customers social footprint all in real-time.
Where Fraudio Wins Over SEON
- Targeted on combining the whole ecosystem, it might be argued that the company has more interest in creating synergy between your and other stakeholders of your business.
- Similar to SEON they offer a more flexible approach to fraud prevention.
SEON vs Fraudio Conclusion
- You require more in-depth user knowledge and profiling in real-time via data enrichment features, phone + email analysis, and device fingerprinting.
- You are seeking a next-gen solution to potentially speed/fortify your risk assessment process.
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