Fraud.net
Fraud.net's AI and Machine Learning Models offers an extensive range of solutions aimed at fraud detection and prevention. Leaning heavily on artificial intelli...
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What is Fraud.net?
Fraud.net's AI & Machine Learning solution is an AI-powered fraud detection and risk management platform designed to help businesses make faster, more accurate fraud and risk decisions. The platform uses cutting-edge AI and machine learning capabilities to adapt, detect, and defend against fraud and financial crime in real time. It is built to handle unique fraud and risk challenges with customizable solutions that fit specific business needs.
Fraud.net pricing
Pricing model: Free
FraudNet does not publish public pricing for their AI & Machine Learning solution. Pricing is usage-based and requires contacting sales at [email protected] or through their contact page. A free trial is available. The platform offers free onboarding and support. For specific pricing plans and costs, businesses must reach out to FraudNet directly to discuss their needs.
Fraud.net pros
- Reduces false positives by up to 78%
- Reduced fraud losses by up to 68%
- Scores every authorization in less than 100 milliseconds
- Real-time risk scoring for every transaction
- Custom machine learning models tailored to specific risk priorities
- Patented machine learning process with proven results
- Explainable and transparent AI with built-in explainability
- Anomaly Detection identifies new risks sooner
- Graph Neural Networks detect high-risk relationships between entities
- AI Agents automate routine fraud analysis tasks
- Intelligent Automation streamlines investigations
- Full visibility into every transaction and event
- Combines internal data with diverse external sources
- No-code/low-code architecture integrating 50+ providers
- Increases approval rates for legitimate transactions
- Detects fraudulent activity with precision
- Learns from global signals to identify emerging threats
- Protects revenue while maintaining frictionless customer experience
Fraud.net cons
- No publicly listed pricing - requires sales contact
- No free tier available for AI/ML solution
- Customization requires data science expertise
- Enterprise-focused, may be complex for small businesses
- Dependent on quality of internal data provided
- No self-service onboarding mentioned
- Requires integration with existing systems
- Patented process may limit customization flexibility
Frequently asked questions about Fraud.net
What industries does FraudNet serve?
FraudNet serves banking, fintech, payment processors, e-commerce businesses, financial services, and digital commerce enterprises worldwide. The platform is trusted by leading banks, payment processors, fintech innovators, and digital commerce enterprises.
How fast is the fraud detection process?
FraudNet delivers rapid authorization scoring in under 100 milliseconds. The platform scores every authorization in less than 100 ms, enabling real-time fraud detection without added friction for customers.
What is Supervised Machine Learning in FraudNet?
Supervised Machine Learning uses custom machine learning models that help spot hidden patterns in your data, making it easier to detect and prevent fraud. By analyzing cases and scoring risks accurately, these models keep your business one step ahead of fraudsters.
How does Anomaly Detection work?
Anomaly Detection spots new risks sooner by identifying unusual behaviors and patterns that deviate from the norm. It flags risks you haven't encountered before, helping your team uncover new risks before they take hold by spotting unusual patterns in transactions and behaviors.
What are Graph Neural Networks?
Graph Neural Networks discover hidden connections between entities to quickly detect high-risk relationships. This delivers deeper insights for smarter decision-making and helps reduce potential risks to your business by revealing relationships that might indicate fraud.
What are AI Agents?
AI Agents free your team to focus on what matters most by automating routine tasks, extracting meaningful data at scale, and driving faster, smarter outcomes in fraud analysis. They help streamline operations and boost efficiency across your fraud team.
Is FraudNet's AI explainable and transparent?
Yes, FraudNet's AI is explainable and transparent. You gain full visibility into every transaction and event, and can understand each AI model-generated risk score with detailed data and built-in explainability. This makes FraudNet the only cloud-based glass-box system offering full transparency.
Does FraudNet offer customization for specific risk priorities?
Yes, FraudNet offers customization done right by tailoring machine learning models to your specific risk priorities. This provides sharper, more accurate results since off-the-shelf tools don't cut it for unique business challenges.
What results has FraudNet delivered for clients?
FraudNet has delivered proven results including reducing account takeovers by 90% for BNPL pioneer Tinka. The platform reduces fraud losses by up to 68% and lowers false positives by 78%, ensuring a seamless customer experience while protecting revenue.
How does FraudNet combine AI with rules-based systems?
FraudNet uses optimized rules that combine machine learning with rules-based systems for accurate risk scoring and decision-making that evolves alongside your needs. This hybrid approach provides both the flexibility of AI and the control of rules-based systems.