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African-based online lender and neobank FairMoney cut their loan approval process down to an average every 8
seconds within a month of using SEON. Juris Rieksts-Riekstins (Head of Risk) uses our digital and social lookup tool
along with device fingerprinting to determine the identity of the person applying for a
loan and more qualified risk decisions.
Barion knows perfectly how to process payments. Fighting against fraudulent ones, however, became increasingly complex as the company grew. “We were spending 10 minutes of manual review on suspicious transactions,” Sandor Kiss, CEO says. “And the number of reviewed transactions was x3 times that of the chargeback rate, so we knew our system was inefficient there.”
Leading Swiss real estate marketplace HomeGate saw a dramatic increase in efficiency when partnering
with SEON, cutting their listing review time from taking days to just minutes, as well as an increase accuracy
for automated listing approval of up to 99.5%.
Multinational brand with 20+ years of financial market and online-trading experience. Uses SEON's data enrichment modules to complete their multi-layered fraud prevention and to reduce chargeback rates by 45%.
For content creator platforms, customer insult rate is an important metric to measure as the many options available
on the market today gives room for easily avoidable customer churn. After using Emailage, Patreon switched to SEON and saw
its manual payment verification drop from 24h to 30m as well as a lower customer insult rate, from 6% to 2%.
As E-Goi rapidly grew, they suffered from a surge in bad users. Fraudsters used their automation tool to send batch phishing emails and acquire personal information. These criminals would sign in with fake credentials and stolen credit card information, which cost E-Goi on chargeback fees and also damaged their reputation.
The trading company faces two major challenges in its day-to-day operations. Firstly, they act as a digital wallet, allowing users to deposit money using a credit card which makes them a number one target for fraudsters. Secondly, they cover risky markets known for high chargeback rates. In Latin America, for instance, chargeback rates were so high that the company feared Visa and MasterCard might issue warnings.
A fast growing company always makes you a target for fraudsters, and this is particularly true in the world of online lending. Sun Finance’s challenges were the ones other companies in the vertical are struggling to fend off, namely: fake identity fraud, synthetic identity fraud and ATO (account takeover).
Running a iGambling company always involves treading a thin line. On the one hand, you want new players to sign up attracted by your bonuses. On the other, you don’t want to open the door too wide for fraudsters and advantage players, who leverage easy onboarding processes to create multiple accounts in order to abuse bonuses and offers. This balancing act was precisely at the core of MaxEnt’s fraud challenges.
Fraudsters love the emergence of new tech and BNPL is just another target in their sights. Mokka contacted
us after issues with stolen IDs and in four months cut their fraud rate by over 65%. CRO Sergey Bogdanov said:
“The most useful thing for us was to be able to see if the email and phone numbers weren’t registered anywhere.
We immediately saved about 6% of costs on our automated KYC checks.”
Following an increase in fraud rates up to $90k, xCoins came to SEON with the issue of multi-accounters. After
integrating our system, the crypto exchange saw a reduction in fraudulent activity by 95 % and eliminated the
multi-accounting attempts by a staggering 99%!
SEON works with Coincash to minimize money laundering and saw results instantly with a reduction of
manual review time by 90% and an increase in multi accounting detection by 60%. Gabor Galantai, COO and Founder,
said: “All the anti fraud tools we looked at could have helped to some extent but none of the companies we
contacted offered as much freedom as SEON when it came to custom filters.”
Multi accounting, bonus abuse and advantage gameplay impacts every iGaming company but by using SEON,
EZY Gaming can now safely optimize their processes. Mikail Arendse (Head of Operations) said: “We have different
intervention points to review throughout the customer journey. As a result, discovering device masking,
multi-accounting, IP or VPN restrictions, and linked fraudulent customers has never been easier.”
P2P lending platform Robocash added SEON to its risk management stack in 2020 as they required a more cost effective
solution that can automate manual reviews using to data such as phone numbers and email addresses.
As a new iGaming platform, Lindar Media had certain blindspots in their risk strategy but after
implementing SEON’s technology, the operator of MrQ discovered 10% of signups were potential bonus abusers.
Head of Operations Stacey Pickering said: “It wasn’t just SEON’s technology that’s great though, the education
side of things helped us understand the types of tactics and patterns used by fraudsters and put rules into place
to prevent them.”