As both SEON and Nethone continue to grow in reputation, this article aims to help businesses looking to upgrade their fraud prevention product stack with more modern, innovative solutions.
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 Fall 2021. Feel free to contact us to request an update/correction.
Nethone is a machine learning-based fraud prevention Saas company that supports online merchants and financial institutions with online user profiling.
Founded in 2016, Nethone was created to “make the online space a safer, and more transparent place for all users” and was established within the Daftcode ecosystem that also features European payment solution Straal.
In June 2021, Nethone raised $6.7m in a Series A funding round to focus on its ‘Know Your Users’ mission.
Nethone Key Products
- Nethone’s proprietary product, dubbed ‘Profiler’, enriches data of every single user with over 5000 attributes in real-time with the result being presented via a decision engine.
- The company uses machine learning to spot unusual / suspicious behaviour that is able to be modified to suit requirements of your industry while refining itself continuously.
- The company has been created with engineers in mind so integration can be complete “within minutes” with no impact on user experience.
- Nethone allows for 3rd party API plugins so you are able to develop a multi-layered defence with other solutions available on the market.
- Signals offer human readable reasoning behind the decision made by their machine learning engine.
- Although they pull together recommendations based on 5000+ data points, you might still need to enrich that data to have full context.
- Relying on a blackbox machine learning algorithm means you will have to deal with false positives.
SEON Vs Nethone Features Comparison Table
|Email data enrichment||Yes||No|
|Phone data enrichment||Yes||No|
|Find user social media||Yes, checks 35+ platforms||No|
|BIN for transaction||Yes||Yes|
|Behavior tracking||Yes, via custom rules||Yes|
|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||Flexible tiered pricing based on API requests starting from €99.||N/A. Contact their sales team for more info.|
Where SEON wins Over Nethone
- It’s AI looks to handle the majority of transactions without input from your risk team, although you are able to look into any particular decision and have some level of flexibility with input from their team.
- The availability of connection graphs can help uncover more complex fraud schemes and provide a deeper understanding of where fraudsters are attacking.
Where Nethone Wins Over SEON
- SEON works with a whitebox machine learning model that offers more customisation to your ruleset, enables more verification from your risk team and is easier to adapt decision processes.
- Our data enrichment gives you more real life context of a transaction by looking at your users social media presence (or lack thereof) and the risk scores are applied accordingly – not just at the signals captured during the user journey.
SEON vs Nethone Conclusion
You require more in depth user profiling with access to real-time data enrichment, phone + email analysis and device fingerprinting.