CORRECTION – Sift Reinvents Account Takeover Prevention Across the Consumer Journey, Integrates with Leading CIAM Platforms

SAN FRANCISCO, Oct. 25, 2024 (GLOBE NEWSWIRE) — In a publication issued on October 24, 2024 beneath the identical heading by SIFT, please be aware that within the subheading and first paragraph references to $1.9 million per week have been corrected to $4.2 million. million per yr. The corrected launch follows:

Sift’s ATO resolution prevents a median of $4.2 million per yr in fraud losses per buyer

Siftthe AI-powered fraud platform that ensures digital belief for main world firms, immediately introduced its newest quarterly product replace, delivering an enhanced resolution to guard companies from account takeover (ATO) fraud throughout the whole shopper journey. Sift’s detailed evaluation of its prospects exhibits that the ATO resolution prevents a median of $4.2 million per yr in fraud losses per buyer. The great method ensures organizations can defend their customers from the second of login to post-transaction, addressing the rising menace of ATO that has resulted in almost $13 billion in losses in 2023 alone.

Fueled by a digitally pushed financial system, ATO assaults are on the rise increased by 24% in the second quarter of 2024 in comparison with the identical interval final yr, when assaults skyrocketed 354% in keeping with 2023 Sift analysis. Conventional options that attempt to cease account theft solely on the level of login typically fall brief, leaving companies susceptible to multi-point assaults . the buyer journey. The issue is compounded by the truth that ATO typically lives between the cracks in organizations, making it an ‘orphan menace’ with no clear proprietor between the fraud and safety departments. Sift permits these departments to collaborate and take possession of ATO by unifying knowledge and workflows which can be accessible to each.

Key enhancements with the brand new Sift ATO resolution:

• Identification-oriented accuracy: AI-powered insights, real-time behavioral analytics and complete machine fingerprinting present richer context round danger and consumer intent all through the buyer journey.
• Highly effective integrations: Unify and lengthen current Buyer Identification Entry Administration (CIAM) workflows by low-code integrations, together with Ping Identification PingOne DaVinci and Okta Auth0, accelerating time to worth and strengthening id administration investments throughout safety know-how.
• Refined controls: Strong MFA capabilities and steady post-login monitoring guarantee exact friction on the session degree. Pre-built, industry-specific automations generate speedy impression.

“Account takeover is a deep challenge that impacts a number of aspects of a enterprise, from cybersecurity to finance,” stated Raviv Levi, Chief Product and Know-how Officer at Sift. “Conventional approaches typically lead to fragmented knowledge and incomplete insights, making it troublesome to totally perceive and mitigate the impression of ATO. Sift’s distinctive method unifies departments and knowledge, making a single supply of fact for ATO prevention and eradicating limitations to income.”

Extra improvements from Sift this quarter embrace superior behavioral indicators and VIP Quick Cross controls for fast-paced transaction industries equivalent to iGaming and Fintech, in addition to expanded RiskWatch performance for sooner, extra insightful guide critiques.

Go to the Sift Weblog for extra details about Sift’s up to date ATO resolution and different improvements here.

About Sift
Sift is the AI-powered fraud platform that secures the digital belief of main world firms. Our deep investments in machine studying and consumer id, a knowledge community that scores 1 trillion occasions per yr, and our dedication to long-term buyer success allow greater than 700 prospects to develop fearlessly. Manufacturers like DoorDash, Yelp and Poshmark depend on Sift to unlock progress and ship seamless shopper experiences. Go to us at sift.com and comply with us additional LinkedIn.

Media contact:
Victor White
VP, Company Communications, Sift
press@sift.com