Wondering if Sift fits your requirements for an anti-fraud product?
For those in the ecommerce sector, it is a commonly chosen solution. But could another product out there be better suited?
Let us take an objective look at the features and highlights of Sift, as well as six of its competitors, including SEON.
Disclaimer: Everything you’ll read below about the companies mentioned in this article was gleaned from online research, including user reviews. We did not have time to manually test every tool. However, we ensured the information was correct as of winter 2022. Please feel free to contact us to request an update/correction. Images have been sourced from review sites.
Best Sift Alternatives
|Company||Core Features||Notable Clients||Summary|
||Nubank, Air France, Kindred||Frictionless, in-depth customer profiling and flexible rules with ML insights|
||New Balance, Staples, Wyze Labs||Secure end-to-end platform|
||JustEat, eShopWorld, Deliveroo||End-to-end fraud prevention and payment authentication platform|
||Southwest Airlines, Ticketmaster, Ubisoft||Flexible fraud prevention making use of decision science|
||LV= GI, OFX, Gol Airlines||Email intelligence with machine learning to inform risk|
||Revolve, Wish, Gymshark||Authentication capabilities and chargeback guarantee|
What Does Sift Offer?
Sift is undoubtedly a powerhouse in the fraud management sector and comes with some of the benefits and shortcomings such popularity can bring. Founded in 2011 with funding out of Y Combinator, it has raised over $157 million in its lifetime.
Prominent in the financial services/fintech industry, Sift also promises to cover the needs of customers in the retail, food & beverage, and other sectors, including travel and ticketing, where fraud has been on the rise.
Among the brands that subscribe to Sift’s services are McDonald’s, DoorDash, Twitter, Wayfair, Birchbox and Airbnb. Clearly, this vendor is well-positioned to serve enterprises.
The complete, integrated solution on offer is called the Digital Trust & Safety Suite, promoted as a comprehensive and easy-to-pick-up product that will minimize losses and streamline operations.
However, some of the functionality included is also available in the form of standalone products, for anyone in need of a more targeted approach:
- Payment Protection – addressing chargebacks, fake accounts, transaction fraud
- Content Integrity – protecting from spam and scams, T&C violations, fake accounts
- Account Defense – against account takeovers, promo abuse
- Dispute Management – to win more disputes, including chargebacks
Naturally, each of these will suit certain industries more than others. For example, online gambling is rife with bonus/promo abuse attempts and terms & conditions violations.
There is also a separate PSD2 Solution – as well as Sift Connect, which offers new ways to integrate Sift tools into a business and promises to play well with third party software.
Looking at the technology powering Sift solutions, we find the below and more:
- account takeover detection
- transaction risk scoring
- intelligence reporting
- IP analysis
- data enrichment
- behavior tracking
Why Look for a Sift Alternative?
There are several reasons why one might want to look for an alternative to Sift. These can include:
- no machine learning scoring suggestions available
- no custom rules, no industry-based rulesets
- blackbox AI
- some integration issues
- no default PSD2 support – possible issue for those active in the EU
- steep learning curve according to some reviewers
- Sift is perhaps more suited to large enterprises
- one might just be wondering if there’s anything better out there
It would be fair to say that Sift is one of the less transparent anti-fraud tools out there when it comes to the technology that powers it, considering it uses blackbox AI, and how even the official website focuses on the results it can bring for companies, without going into the innovations and algorithms behind them.
Six Sift Alternatives
Whether a competitor is better than Sift for your company’s needs will, of course, depend on those needs.
But it’s always good to keep an eye on developments in such an important sector, as fraudsters continue to target organizations of various sizes with new methods.
Let’s now look at six robust alternatives to Sift.
Features & Use Cases
Founded in 2018 in Hungary, SEON was quick to establish itself as a real contender in the fraud fighting arena, recently raising a record amount of funding in the country’s history.
It has offices in Budapest, London, and Austin, Texas. Prominent customers include Revolut, KLM, 888casino, Patreon and xCoins, with the brand positioning itself as able to cover the needs of a range of sectors such as fintech, BNPL lending, payment gateways, and ecommerce.
In simple terms, what SEON has done is put some industry-leading research into practice, combining it with anti-fraud staples.
This can be seen, for instance, in the email lookup module, which scouts openly available data from more than 35 online platforms for data enrichment as well as manual review. It is the interpretation and utilization of such findings by the SEON engine that’s impressed its users time and again.
For example, the conclusion that if an email address has been found to be present in historical leaks and dumps, we know that it has been in use since at least that date – and is thus less likely to have been created on the spot by a fraudster.
Beyond the email and phone module, SEON uses whitebox artificial intelligence, which means that analysts have a clear view of why a customer or transaction has been assigned a specific risk rating.
Data points taken into account for the scores are based on IP analysis, device/browser/cookie caches and fingerprinting, both complex and heuristic machine learning rules, behavior tracking, and velocity checks.
There are industry presets available, as well as 24/7 support, while SEON takes pride in its solution being adaptable, scalable and easy to fine-tune.
One often stressed benefit of this vendor’s products is the seamless integration into the customer journey, because the data enrichment and fingerprinting algorithms work behind the scenes, without delaying the shopper, asking them for unnecessary validation, or causing churn.
Features & Use Cases
Acquired in February 2021 by Equifax to the tune of $640 million, Kount is a startup that has made a name for itself ever since it came onto the scene in 2006.
Today, it counts more than 9,000 customers around the world – including 20% of the top retailers and MLMs, and about 50% of fast food restaurant websites, by the brand’s own admission. Among its clientele are New Balance, PetSmart, Staples, Party City, and Getty Images.
There are two main aspects to Kount’s solution that the company highlights time and again: strong artificial intelligence and what they call the Identity Trust Network.
The latter is a database populated over 13 years of the company’s anti-fraud services, containing up to 32 billion interactions a year, which serves both to reach conclusions about shifting fraudster methodologies and quickly flag any known bad actors, stolen fullz and so on.
However, it should be noted that the data contained within is not live, and overreliance on stale data could lead to less than ideal decisions in certain cases.
Furthermore, in terms of Kount customer concerns, there are some calls for more customization options, for speeding up response times, and addressing some bugs – although the solution seems to be working well almost all the time.
On the other hand, there are also benefits to using Kount. Customers have the option of choosing which of the products to use.
There is Kount Command, a digital fraud prevention tool; Kount Control, for a boost in authentication, including MFA, and Kount Central, created specifically for payment providers. There is also a chargeback and dispute management tool that can be of interest to companies in ecommerce.
Features & Use Cases
Based out of the UK, Ravelin was formed in 2014 by a founding group who had previously worked on a successful transport app, thus acquiring first-hand insight into online bookings and payments – an industry the fraud prevention vendor remains strong in.
With its industry expertise and state of the art technology, it has found itself attracting some of the strongest names in mobility and delivery services, including JustEat, Deliveroo, FlixBus and Easy Taxi – as well as brands in other verticals.
Ravelin offers tailor-made fraud protection primarily for enterprises, and possesses unique expertise in supplier fraud, thanks to their longstanding work with very popular companies with high volumes of transactions.
Moreover, there are adaptive solutions “against emerging threats and scams”, though the company uses this moniker on their website to describe common attack vendors such as account takeover attacks, promo abuse, and marketplace seller fraud. Finally, there are solutions to address PSD2 requirements, with PSP-agnostic authentication and conversion optimization.
For smaller merchants, standalone APIs are available, though whether those would suit the needs of SMEs depends on the industry and other factors.
One benefit to using Sift that we have identified is that unlike some of its competitors, this vendor has placed more focus on PSD2 compliance – as a UK-based company, it’s more likely to attract clients who do business with/in the EU.
Overall, the offering is polished and there is excellent customer support. Custom risk scoring rules are available, although there are no industry presets nor machine learning suggestions. For user authentication, customers will also need to ensure they have deployed Ravelin Accept.
Ravelin is all about big data and transaction volumes – aiming to take the process off the hands of companies, who can focus on the core of their work instead. As a result, it expects its customers to trust their blackbox AI and algorithms, without needing to participate.
Features & Use Cases
Acquired by American Express for approximately $150 million back in 2010, just three years after it was founded, Chicago-based Accertify has set as its mission to deliver convenience and peace of mind to organizations.
Among its fraud prevention client roster we find Southwest Airlines, Arcadia, Ubisoft, and Ticketmaster. Being an American Express company, Accertify enjoys the prestige the name brings and has landed several big players from the travel industry, including Greyhound and EasyJet.
Financial services is another sector this vendor is big in, while they also target ecommerce and igaming.
All these merchants enjoy access to – and help power – two of the most comprehensive anonymized databases in the industry, promising to catch known bad actors more quickly through crowdsourced information about historical threats and fraudsters.
There are separate products for digital identity verification, fraud management including refund and chargeback management, SCA optimization, and adjacent concerns.
Accertify’s risk analysis is based on machine learning and heuristic models, with detailed reporting and real-time dashboards. Results are generated after examining users’ IP, device, BIN data, and more, and include what-if analysis, 30+ out of the box reports as well as data extraction options.
One of the benefits of choosing this vendor is the truly multilingual, around-the-clock support. The speed of deployment is frequently rated as being excellent, too.
On the other hand, some users report issues with the platform’s stability, and with integration with non-AmEx products.
Features & Use Cases
After eight years as a startup, Emailage was acquired by popular fraud vendor LexisNexis on February 3, 2020, and is now offered either as a standalone tool or bundled into the LexisNexis Risk Solutions Network.
At its core, Emailage is a reverse email lookup tool that enriches data in order to allow for less friction in your customers’ shopping journey while still keeping you safe.
To do this, it taps into an enormous database of 5.9 billion digital identifiers from the company’s work in 150+ markets around the globe – and around 82,200 fraud events are added to these every day. However, this data is not live, which can result in less accurate conclusions being drawn.
When someone looks to sign up for an account or complete a guest purchase, the email address they will provide will be taken by Emailage and run through this database to help assess whether they could be a bad actor.
There are machine learning suggestions, industry preset rules and custom rules as well, while both modular APIs and API calls are supported.
Considering this functionality, it is rather surprising that this solution has not also integrated other industry-standard methods, such as some degree of device fingerprinting and phone number lookup.
Beyond this, it is useful to remember that Emailage is more likely to suit the needs of those who already use some of the LexisNexis products and are in need of email analysis.
Features & Use Cases
With an excellent reputation in the realm of ecommerce and an impressive client list, Riskified has been active since 2013 and is today based in New York and Tel Aviv.
This anti-fraud vendor positions itself very clearly as tailored to the needs of the ecommerce industry – but not exclusively, either. Among Riskified’s customers are Prada, GymShark, Wish, Acer, and Wayfair.
The brand’s core products are clearly defined, which we can’t say for every competitor out there. They include Policy Protect, Chargeback Guarantee, Account Secure, PSD2 Optimize, and Deco. Each of these seeks to target a different aspect of ecommerce risk management, and can be combined or deployed as standalone solutions, according to each customer’s needs.
Riskified solutions’ technology features some of the best the sector has to offer, such as IP analysis, robust fingerprinting, whitebox artificial intelligence, custom rules, industry presets, behavior tracking, and chargeback management. There is also an expansive database of data points and fraud events to improve predictions and make for more accurate risk scoring.
Those Riskified customers who work within the EU, however, report that support for the PSD2 Directive is not available out-of-the-box and has to be addressed through a separate product.
As for negative trends we have spotted in crowdsourced Riskified reviews, some report more false positives than they expected, as well as the fact they would appreciate simpler documentation.
How to Choose a Sift Alternative
We hope the above explainer has been useful to anyone looking to evaluate whether Sift is suitable for them or maybe a competing product is a better option.
There is no single solution that will be perfect for everyone’s needs, so keep yours in mind when choosing.
From here, your next steps should be to arrange demonstrations for the products and platforms that seem the most suitable for you. Hopefully, we have helped a little.
FAQ for Sift Alternatives
Are there cheaper alternatives to Sift?
Sift pricing is volume-based, while some of its competitors are not. It is thus not easy to estimate which would be cheaper for your organization. Make sure you approach the sales staff of any of the Sift alternatives you find promising to learn more before you commit.
Where can I learn more about Sift?
Unfortunately, at the time of writing, there was no free trial available for Sift. However, there are plenty of reviews to read online, as well as the official website to consult. You can also take a look at the breakdown of Sift vs SEON that we have prepared for you.