Fraudio Alternatives & Competitors

Best Fraudio Alternatives 

Company	Core Features	Notable Clients	Summary
SEON	• digital profiling • whitebox AI transaction monitoring • industry presets + customizable rules  • email, IP + phone data enrichment  • advanced device fingerprinting • AML solution	Revolut, Air France, Patreon	Unique in-depth customer profiling and flexible rules, AML module and free plan.
Kount	• custom rules • MFA available • chargeback guarantee • 32bn user interactions per year • database policy & practice advice  • online shop integrations	New Balance, Staples, Wyze Labs	Strong and secure fraud platform
ClearSale	• in-house manual review team • chargeback protection • ecommerce platform integrations • automatic decisions based on scoring engine • strategy/consulting suggestions	Motorola, ASUS, Under Armour	Chargeback protection with analyst support and risk strategy advice
NoFraud	• chargeback protection with order-specific opt-out • personal + velocity tracking • global blocklists • pre-gateway integration • phone order screening	MMA Warehouse, JackRabbit, The Sony Shop	Shopify-focused fraud solution delivering ease of use
TruValidate	• transparent 2FA • skip tracing database • options for different needs • flexible ID verification • consultancy service	Upwork, Nike, Western Union	Multiple ID verification methods, plus fraud prevention
Forter	• behavior analytics • 850 million person database • targets bonus abuse  • PSD2 compliance • full automation	Priceline, Fiverr, Deckers	Ecommerce fraud prevention promises to reduce false positives

What Does Fraudio Offer?

Using pioneering machine learning technology, Fraudio is a cloud-based SaaS risk management tool for merchants, PSPs/acquirers, and banks looking to detect and prevent fraud in real-time.

The Fraudio story began in 2019 in the Netherlands, when a team of artificial intelligence experts and data scientists found that the payment fraud and AML solutions on the market were not, in their opinion, adequate. 

To respond to this, they created a cloud-based, centralized data tool available to merchants of any size that promises to scale well and comes with no integration or setup costs.

API availability means that it can be integrated easily with other risk management tools that you may wish to use. Once your platform is connected to the API, you have pay-per-use fraud detection. As Fraudio’s machine learning works across the entire payment ecosystem, it is an appealing product for merchants, payment service providers, acquiring banks, and card issuers.

There are two main solutions on the Fraudio roster:

• Payment fraud prevention: If you’re looking to detect fraud in real-time, Fraudio’s machine learning AI will help you do just that. 
• Merchant-initiated fraud detection: For PSPs and acquirers, Fraudio boasts the capacity to track merchants’ behavior to aid with both automation and manual reviews, promising to catch fraudulent businesses.
• AML solution: Fraudio can detect suspicious transactions to help you stay afloat of compliance regulations.

Why Look for a Fraudio Alternative?

As Fraudio is fairly new to the scene compared to some established vendors, it is understandable for there to be some hesitation to sign on – especially so due to the lack of easily accessible customer testimonials.

Otherwise, you might find that Fraudio’s fraud software package looks somewhat incomplete when used in isolation. Fraudio does fraud detection and AML/PEP screening, but there is an overreliance on machine learning that could cast doubt on the accuracy of the results.

There is no data enrichment functionality to aid manual and automatic risk scoring, while the datasets the offering taps into are not live. For many, the accuracy that live data can provide is key. 

For businesses looking to integrate their fraud detection and prevention tools into their browser with an extension, Fraudio also comes up short. Finally, if you appreciate graph visualization, detailed reporting and top-of-the-range customer verification options, you might want to look elsewhere. 

Six Fraudio Alternatives

You might have decided that Fraudio isn’t ideal for your business right now or be considering complementing it with additional solutions. If that’s the case, here are six alternatives currently on the market.

SEON 

Features & Use Cases

Founded by Tamas Kadar and Bence Jendruszak in 2017, SEON is a fraud prevention brand that has made waves in recent years – including with its record-breaking Series B round in April of 2022, which raised $94 million. 

Also employing strong device fingerprinting and behavior checks, SEON boasts a powerful reverse email and phone lookup module at the core of its fraud prevention offering. 

It is industry-agnostic and targets with ease account takeover fraud, friendly fraud, chargebacks, fake accounts, bot attacks, and account farming, among other pain points.

Businesses looking for a focus on data enrichment and user profiling will be impressed by SEON’s functionality. That’s because it gives you the ability to estimate the risk a user could pose in real-time, right from the onboarding stage, using digital footprinting.

This includes a customer’s public social or other web data that comprise their overall digital footprint. Because it scales and is fully customizable, SEON’s customer roster features startups, established companies such as Air France, as well as well-known fintechs like Revolut, afterpay and Patreon.

In simple terms, SEON will craft a comprehensive profile for each user not just based on commonly examined aspects like their device and browser type but also their email account or phone number – for example, how many social media websites they’ve signed up to or when and if they were a victim of a data breach (which is unfortunate for the individual but also a sign that this is a real, legitimate shopper). 

While Fraudio started offering AML tools, they are limited to checking for transaction anomalies. SEON offers a full anti-money laundering module designed to let you check for names on the relevant lists to boost compliance.

SEON’s AML screening is also more helpful than Fraudio’s, allowing you to check user and customer names in a wide range of relevant databases, such as PEP lists, sanction lists, crime watchlists and more. It helps unifies compliance and fraud protection in one simple package.

SEON’s solution has diverse applications, from assessing shopper intentions and potential to be a fraudster to identifying high-value customers and providing alternative credit scoring data for better decision-making. What’s more, SEON’s modular APIs allow you to improve accuracy and provide better insights when introduced to an existing fraud prevention stack. For a more in depth comparison see them compared together here.

Kount

Features & Use Cases

With 15 years of experience in the fraud prevention industry, Kount offers a large, 13-years-in-the-making Identity Trust Network database that is used by over 15,000 businesses across industries like food, direct sales, retail, travel, gaming, streaming, health, beauty and telecoms.

If you’re dealing with a large number of item returns, then you might find Kount a good option. It’s a popular choice for businesses with a considerable offline as well as online presence. Online retailers who need a fraud prevention tool that integrates with WooCommerce or Magento can also benefit from Kount’s plugins.

Like Fraudio, Kount’s flagship digital authentication tool Kount Command uses artificial intelligence and machine learning to provide millisecond responses. Command works alongside the other suite products such as adaptive authentication tool Kount Contro, and payment provider anti-fraud solution Kount Central.

As a standalone product, Kount Command also tackles chargeback risk, friendly fraud, gift card fraud/coupon fraud and BOPIS (buy online, pick up in-store) fraud. This makes Kount Command a good choice for ecommerce websites looking to make sure that their transaction systems are not abused by customers. Reassuringly for merchants, Kount places massive emphasis on reducing chargebacks. 

If you’re concerned about friction in customer experience, it’s worth bearing in mind that some users report that Kount Command causes slower transactions. Kount Command also lacks integration for some users who might be looking for a more flexible option. Finally, one more thing to keep in mind is that the Identity Trust Network, though impressive in size, features historical rather than live data, with the former always being less reliable.

ClearSale

Features & Use Cases

This ecommerce fraud solutions giant has built a reputation since 2001, with its origins being in Brazil. Providing support in English, Chinese, Portuguese and Spanish, ClearSale is a popular choice in 160+ countries. 

Indeed, this fraud prevention vendor is a solid option for merchants who would rather leave manual reviews to professional analysts. That’s because this vendor uses a two-pronged approach to reviewing, providing a fully automated scoring engine alongside an in-house reviewing team who will work to review ClearSale customer data. 

Offering two pricing options, ClearSale broadens its availability to a wider range of customers. The more expensive Total Guarantee Protection provides a chargeback guarantee model, whereas Total Protection will hit your KPIs as discussed with the ClearSale team.

Customers strongly vouch for ClearSale’s user-friendliness. They say that they can leave ClearSale running in the background without having to get too involved with the reviewing process. Via the interface, they have full visibility of the results and can find out whether each order has been accepted or rejected.

However, ClearSale may not be ideal for customers looking for more in-depth transparency, such as feedback on exactly why an order was deemed to be fraudulent.

NoFraud

Features & Use Cases

As a top choice of Shopify and other ecommerce platform users, NoFraud has attracted the likes of Sony, PCMag, and SwissRabbit into its customer base. Specializing in ecommerce and checkout protection solutions, this solution integrates with your platform of choice, scanning for fraud in real-time. Their package also includes identity validation, geolocation, global blocklists, persona tracking and device fingerprinting.

NoFraud’s authorization process might sound a little complicated but it’s deceptively simple. Combining machine learning with the insight of skilled on-hand fraud analysts, each transaction either passes or fails. The simplicity of this might be appealing to the less tech-savvy – though, if you’re looking for a more detailed risk score assessment before taking action, you should consider looking elsewhere.

Sporting a frictionless process for ecommerce customers, NoFraud is considered by some reviewers as a great alternative to Shopify’s inbuilt fraud system. Customers also appreciate their helpful customer service team, who can talk merchants through any suspicious transaction.

As NoFraud charges per transaction, some users find that it is too costly an option. Due to this price tag, NoFraud may not be an option for small startups looking to start fighting fraud effectively from day one. Growing businesses should also pay attention to NoFraud’s scaling price model – the bigger your business, the more expensive NoFraud becomes.

TruValidate

Features & Use Cases

You might already know top identity verification solution TruValidate as Iovation. Still effectively the same brand and owned by TransUnion, TruValidate is part of a reliably longstanding company that’s been in the industry since 2004. 

As its name suggests, TruValidate offers a comprehensive range of verification options, including bank verification, card verification, identity verification, email verification, document verification, facial recognition, and phone verification.

TruValidate originated as an essential verification choice for high-risk companies in the iGaming industry, who are at an increased risk of fraud attempts than most other companies. Since, it’s expanded its market to include any company looking to quickly spot and stop fraudulent accounts. 

Because TruValidate has been operating for a while, it’s gained many positive customer reviews alongside a few negatives. 

As it notifies its users of expected fraud quickly, fraud teams are able to promptly decide whether to accept a transaction. Customers also vouch for its easy-to-use interface, and a fast, helpful customer service feature for troubleshooting or user queries. 

However, some TruValidate customers have suggested that the business editor interface could be more user-friendly. According to other reviewers, the software runs slowly on small networks due to it taking up a lot of space on servers – though this might be due to sub-par deployment on the company’s side.

Forter

Features & Use Cases

The Brainchild of Liron Damri, Michael Reitblat, and Alon Shemesh was founded in Israel but now boasts New York as its headquarters. With a history going back to 2013, Forter has been around for a decade.

Forter markets its fraud detection and prevention software to online retailers, promising to help with pain points such as friendly fraud, refund fraud, promo abuse and account takeovers – thus enabling digital commerce brands to grow with minimal loss to cybercrime.

As chargebacks are a huge pain point in the industry, Forter addresses them head-on, with a “chargeback protection promise” that appears to be similar to the popular chargeback guarantee model. The idea behind this is that the vendor will cover out of pocket any chargebacks that do slip through the cracks, demonstrating confidence in their software. 

This is seemingly convenient for merchants. However, in reality, this is a huge incentive for the anti-fraud vendor to err on the side of caution, so they don’t have to pay up. As a result, more legitimate customers are likely to be blocked from completing their purchase, creating false positives.

In addition to this feature, there is a solution to boost trust between merchants and banks/issuers dubbed “Trusted Authorization”, policy abuse mitigation (e.g. reseller fraud), account takeover prevention – as well as Forter Element, a separate solution tailored to the needs of payment service providers (PSPs) in particular, as is common in the industry.

Looking at existing customer feedback, Forter is known for excellent customer support and easy integration. However, many point out how much more useful it would be for the software to provide explanations of why it has blocked someone from transacting and how it reached that decision.

Choosing the Right Fraudio Alternative

When considering alternatives to Fraudio, bear in mind that it is more useful to find one matches up with your company’s specific requirements than to look for a supposed “best” solution that claims to cover everyone’s needs.

Some advanced functions may or may not be helpful to your business. You might find that you’re not looking for an all-encompassing validation process, as your company has few high-risk customers. If you’re looking to strengthen the defenses of your eshop, you may decide to focus more on proactively reducing chargeback risk and instances of friendly fraud. 

With these alternatives considered, you’ll now be able to better home in on what’s effective for you. As your business changes and grows, it’s worth bearing in mind these alternatives for when the time is right. 

Finally, do try to get a full demo or free trial of a company’s functionality before you commit, where available, for a hands-on evaluation.

Fraudio Alternatives FAQ