Product Overview of Sift Science
Sift Science is a cutting-edge, AI-powered platform designed to prevent digital fraud and ensure digital trust and safety for businesses of all sizes. Recognized as a leader in digital fraud management by Forrester, Sift Science combines advanced machine learning, comprehensive data analysis, and a global network of fraud intelligence to protect businesses from various types of fraud.
Key Features and Functionality
Advanced Machine Learning and Data Analysis
Sift Science leverages a vast global data network, aggregating over 16,000 real-time fraud signals from more than 6,000 websites and apps. This data is analyzed using sophisticated machine learning algorithms that identify patterns of behavior across device, user, network, and transactional signals, often uncovering patterns that human analysts might miss.
Real-Time Risk Scores
The platform generates a Sift Score, a probability score between 0 and 100, indicating the likelihood of a user or transaction being fraudulent. These scores are updated in real-time as new data is received, allowing businesses to make accurate and timely decisions at key lifecycle events such as account creation, login, and order placement.
Comprehensive Fraud Detection
Sift Science offers a wide range of features to detect and combat fraud, including:
- Device ID Fingerprinting: Identifies unique device characteristics to track and flag suspicious devices.
- IP Address Analysis: Analyzes IP addresses to determine their legitimacy.
- Social Data Analysis: Incorporates social media profiles, email domains, and other social data to enhance user profiling.
- Transaction Monitoring: Tracks and analyzes transactional activities to identify fraudulent patterns.
Automated Decisioning and Case Management
The platform automates decision-making processes using business logic based on the Sift Scores. This allows businesses to automatically block risky transactions, send them to manual review, or approve them, significantly reducing the time spent on manual reviews by up to 80%.
Community and Expert Support
Sift Science provides access to a community of fraud experts and a rich repository of Fraud Industry Benchmarks (FIBR), which helps businesses stay updated with the latest fraud trends and best practices. The platform also ensures regulatory compliance, such as with PSD2 and PSD3, balancing compliance with revenue conversion.
Data Visualization and Reporting
The platform offers robust data visualization tools, presenting a full narrative of fraudulent activities through data visualizations, suspicious signals, and raw data access. This enables businesses to gain deep insights into user behavior and make data-driven decisions.
Continuous Innovation
Sift Science is committed to continuous innovation, with over 40 patents and ongoing updates to its solutions and services. The platform prioritizes constant evolution to match the evolving landscape of digital fraud, ensuring businesses remain protected and ahead of potential threats.
In summary, Sift Science is an all-encompassing fraud prevention platform that leverages AI, machine learning, and a global data network to provide businesses with the tools they need to prevent fraud, enhance user trust, and drive revenue growth while minimizing risk.