Sift Example

Fraudsters move fast and are always adapting. In your fight against fraud, look for an end-to-end solution that provides extensive social and digital checks plus AML. Opt for flexible custom rules supported by machine learning so that you can adapt to new legislation and changing fraud patterns.

Eliminate Hard-To-Beat Fraud With Transparent, Customizable Scoring

Preset rules are great for getting started and detecting the common forms of fraud across your industry, but every business has unique needs. Customizable risk scoring means you can control your fraud decisioning, adapting your rules to changing fraud trends, legislation, and your company’s risk appetite.

SEON offers both preset and customizable rules, powered by transparent machine learning – so you can tap into instant AI decisioning while staying in control. With SEON, you can update and adapt your rules whenever you want, ensuring you stay responsive to changing environments.

SEON vs Sift

Sift: Custom rule creation only via API   

SEON: Preset rules and in-depth custom rule creation, including comparison, data match, and velocity rules

Clear, Understandable Machine Learning Decisions

Machine learning is the best way to spot fraud patterns at scale and speed, improving its accuracy the more it is used.

Transparent and understandable whitebox machine learning means you benefit from AI-powered decisioning while staying in control. While effective, blackbox machine learning’s lack of explainability means that updates can take weeks to adapt to legislative changes, costing you money.

SEON offers dual machine learning for automated risk pattern identification. Our transparent whitebox algorithm provides intricate rule suggestions for advanced fraud prevention. Our blackbox module assesses user activity separately for enhanced security. As a SEON customer, you can use either / both modules. The goal is always the same: to improve the accuracy of your fraud detection over time, based on your real and unique business landscape.

SEON vs Sift

Sift: Blackbox automated machine learning

SEON: Blackbox + explainable whitebox machine learning

End-To-End Solution To Cover All Grounds

While point solutions offer fixes for specific fraud scenarios, they often fail to expose unseen risks or prepare businesses for growth and fraud exposure in other parts of the customer journey. An end-to-end fraud solution will protect against all fraud risks, supporting your business’ full fraud needs and giving you the confidence that you are protected on all sides.

Sift offers several individual APIs to stop fraud, streamline operations, and boost revenue; however, SEON is the only comprehensive customer intelligence platform with all the digital and social insights for seamless KYC. It’s a single source that combines insights from a simple name, email, phone, or IP. Unlike Sift, this includes AML, giving you a full, 360-degree view of your customer’s fraud risk.

SEON vs Sift

Sift: No AML solution available

SEON: A complete solution offering AML

The Value of Real-Time Digital and Social Signals

A customer’s digital and social signals, or their ‘digital footprint,’ can be a powerful way to measure fraud risk. They tell us a lot about a customer in lightning-fast time. For example, are they who they say they are? Are they trustworthy? Or are they making transactions that indicate fraud? Some common digital and social signals are:

The customer has a limited digital footprint = the average email is linked to about 8-10 online accounts; significantly fewer signals present risk

• Access to Spotify, Disney+, Netflix = The customer is paying regular subscriptions
• Use of LinkedIn = Likelihood of employment (which can be manually verified)
• An account with Airbnb = The customer has passed Airbnb’s KYC check

SEON vs Sift

Sift: Very limited social and digital checks

SEON: 90+ social and digital checks, uses real-time data for a full and up-to-date picture of your customer

Ask For A Free Trial and Ensure Ease Of Integration

Platforms that aren’t easy to use or integrate well don’t get used. You need a solution that is up and running fast, helping you block fraud from day one. Ensure that you have trialed the platform before committing to it. Check its functionality and integration with your existing processes. Look for an API-first platform for quick integration and a solution provider that offers comprehensive customer support.

SEON’s API-first solution integrates in as little as a few hours. Use our 30-day free trial and customer support to ensure it’s the right platform for you.

SEON vs Sift

Sift: No free trial; integration takes up to 1-3 months

SEON: 30-day free trial available, easy integration that can be used from day one

Disclaimer: Everything you’ll read in this article was gleaned from online research, including user reviews. We did not have time to manually test every tool. This article was last updated in Q3 2023. Please feel free to contact us to request an update/correction.