Compare SEON vs Sift

Both Sift and SEON have seen immense growth in recent years, see how the two compare and which will work best for your company in the fight against fraud with this comparison article.

About Sift

Sift provides fraud prevention tools to minimize financial loss and brand damage through one single portal. Founded in 2011, the company has grown over the decade to a point where in April 2021 they raised $50m to go over a company valuation of $1 billion. 

They were supported in its early stages through seed money startup accelerator Y Combinator and now work with more than 34,000 sites and apps including Airbnb, McDonald’s and Doordash.

Sift Key products

• Sift’s main offering is its Digital Trust and Safety Suite, which encompasses all of its individual APIs to stop fraud, streamline operations and boost revenue.
• Account Defense is their account takeover (ATO) specific module that protects user accounts through machine learning with the ability to apply 2FA where necessary.
• Their Payment Protection product uses data from their global network to train its machine learning models to analyze a given data point all in real-time, with an emphasis on automation.
• Sift also offers a Dispute Management module that looks to minimize chargeback risk and a Content Integrity product that blocks spam, scams, and other malicious content to safeguard the integrity of a given platform.

Pros of Sift

• Cover most key areas of fraud including a specialised chargeback module.
• Affordable long term contracts to help lift the pressure of your operations through its Digital Trust and Safety Suite.
• A range of products that goes beyond just fraud with its Content Integrity product for businesses that work on developing online communities.
• Utilizing blackbox AI allows for lots of volume to be analyzed with next to no input from the user side, more tailored for those handling mass amounts of transactions.

Cons of Sift

• Blackbox AI models do not allow as much insight into how a decision on a given transaction was reached or the journey of the customer.
• Furthermore, due to its blackbox model, there is a lack of machine learning suggestions or advice tailored to the data it’s receiving, creating room for more false positives.
• No access to real-time social media lookups, therefore harming your ability to understand the customer. It is worth noting that data can quickly become stale or be relatively limited for emerging markets.
• Despite offering individual APIs, these are not available to be applied with other Sift products thus creating a lack of flexibility with your risk management stack.
• No free trial availability. 

SEON vs Sift Features Comparison Table

Where Sift Wins Over SEON

• Sift has set up its product stack to be targeted for larger businesses that handle huge amounts of transactions on a daily basis.
• Their blackbox AI helps streamline operations and remove necessary human resources for you to spend time focusing elsewhere.

Where SEON Wins Over Sift

• Using a whitebox AI requires more human interaction but provides more flexibility for you to accept more transactions and minimize false positives. 
• Furthermore, SEON is able to offer more industry-specific rulesets and our machine-learning model will offer suggestions based on current transaction flow.
• SEON’s industry leading social media lookup tool helps create a more holistic profile of any incoming customers.

G2 Comparison

SEON vs Sift Conclusion

Further Reading

Learn more about:

Browser Fingerprinting | Data Enrichment | Device Fingerprinting | Fraud Detection API | Fraud Detection with Machine Learning & AI | Fraud Detection & Prevention

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