Navigating the intricate, changing landscape of fraud prevention requires a robust, forward-thinking approach. As fraud actors embrace AI and automation for financial gain, businesses must adopt advanced solutions that do more than keep up with risk and instead, significantly outpace it.
That need is the crux of innovation at Sift while developing our AI-powered fraud solutions. In pairing speed and scalability with accuracy, depth, and diversity of data, our value to the customers we serve falls squarely on secure growth. We support our customers’ expansion into new markets, and deliver tailored experiences that adapt to the industries and users we serve—harnessing and solidifying the direct connection between complete data and better CX. Our platform delivers deep transparency around insights, automation, and risk, giving providers the confidence to introduce new offerings and pursue unique avenues to grow fearlessly.
The industry at large has taken notice: Sift has been recognized as a Strong Performer in The Forrester Wave™: Enterprise Fraud Management, Q2 2024, on the heels of being named a Leader in the The Forrester Wave™: Digital Fraud Management, Q3 2023.
Achieving Excellence in Both DFM and EFM
Sift’s dual recognition in both Digital Fraud Management (DFM) and Enterprise Fraud Management (EFM) reports by Forrester Research underscores our versatile and comprehensive approach to fighting fraud. This expanded recognition reflects the power and dynamism of our platform by providing protection across use cases like payment fraud, account takeover, dispute management, money movement, and policy abuse. These reports also highlight how Sift is uniquely positioned to support diverse digital industries, from e-commerce to fintech.
In the Enterprise Fraud Management report, Sift earned the highest possible scores in key areas such as Segmentation and Behavioral Profiles, New Account and Digital Channel Fraud Management, Channels, Vision, Partner Ecosystem, and Supporting Services and Offerings. Forrester’s evaluation highlighted our vision for enterprise fraud management, strong partner support, and a robust ecosystem of supporting services and products.
According to Forrester, “Sift showed a convincing EFM vision, support for partner onboarding and management, as well as a strong ecosystem of supporting services and products. Managing segmentation of customers and entities based on attributes and managing behavioral profiles is versatile. New account and cyber (digital) fraud management capabilities are ahead of others in this evaluation.”
Addressing Modern Fraud Challenges with Future-Forward Solutions
Payment fraud, scams, account takeovers, and policy abuse present ongoing and growing threats to digital commerce. The risk necessitates a sophisticated response that leverages AI and machine learning to scale defenses faster than fraudsters can attack. We’ve shaped our technical roadmap around precisely these needs, focusing on delivering secure and seamless digital experiences at every touchpoint across the user journey.
That means pulling focus away from facing a single type of fraud, and constantly considering the broader context of risk before, during, and after a customer interacts with a business. Sift addresses the totality of fake account creation in addition to account takeover, defending the front end of a customer’s lifecycle and access to a company’s platform. Sift also provides automated protection for money movement and alternative payments, while proactively preventing credit card and card-not-present (CNP) fraud, keeping businesses safe from policy abuse and first-party fraud, and lowering dispute rates.
Our recognition as a Leader in the Digital Fraud Management report highlights our capabilities in chargeback management, non-payment fraud and policy abuse, and gives us high marks for our product roadmap and community support. This recognition underscores our ability to support businesses as they scale while providing exceptional fraud prevention and risk management rooted in real-time, identity-level data and insights.
Unmatched Product, Professional, and Peer Support
Businesses seeking a fraud management platform that will scale alongside growth and evolve with emerging risk need solutions that integrate data from multiple sources. Solutions that work for growing companies must offer real-time transaction monitoring, automated risk scoring, and comprehensive case management for sustained and flexible protection. The Forrester WaveTM details the ideal components of the right fraud management solution, including purpose-built chargeback management, flexible user authentication policies, and investigator-centric case management.
Sift provides context for chargeback investigation, mitigation, and case management, protecting against a wide range of online fraud and abuse. Our platform defends against payment fraud, account takeovers (ATO), spam and scams, and disputes using automation and AI/ML-powered recommendations, and increases order acceptance through dynamic friction and percentile scoring with RiskWatch. Finally, Sift’s customizable queue management, case-routing, performance reporting, and intelligent response recommendations deeply improve performance management and tracking.
Global Data, Community Intelligence, and Scaling with Confidence
Sift’s platform is powered by a global data consortium that processes 1 trillion events annually, encompassing diverse businesses and their unique interactions. This extensive data network allows us to protect $325 billion in annual gross merchandise value while enabling our customers to operate fearlessly, knowing that growth is both supported and secure.
With that in mind, the Sift platform evolves both in anticipation and response to changing fraud tactics. We continuously refine and introduce features that enhance simplicity and speed in fraud operations—our roadmap has previously included versioned workflows and segmented APIs for faster onboarding—and regularly release new or enhanced features and functionality to align with changing risk. These developments make it easier for businesses to leverage trust and safety as a revenue-driver while maintaining robust protection against fraud.
Our recognition in both the DFM and EFM Forrester Waves is a strong affirmation of Sift’s capabilities and vision. By combining human intelligence with intelligent automation, we’re doing more than helping digital businesses fight online abuse. We’re building deep, sustainable trust between providers and consumers, and creating safer digital experiences for both.
For more insights on selecting the right digital fraud management partner, watch our webinar with Forrester, or schedule a demo to see Sift in action.