Sift Charges into Summer Riding Wave of Industry Recognition, Community Expansion, Product Innovation, and Fortified Executive Team
24 Julio 2024 - 10:30AM
Sift, the AI-powered fraud platform securing digital trust for
leading global businesses continues to be at the forefront of the
fight against digital fraud by earning significant industry
recognition by Forrester Research and G2, releasing a new
patent-pending innovation, enhancing its industry benchmarking
resource FIBR, and expanding its vast online community of fraud and
risk professionals.
Industry Recognition
This summer, Sift once again achieved top rankings in the G2
Summer 2024 Reports, thanks to over 100 verified Sift users who
submitted reviews, securing the #1 position in Fraud Detection,
Risk-Based Authentication (RBA), and Web Security (a new category).
Additionally, Sift ranked #2 in E-commerce Fraud Detection. This
marks the 13th and 7th consecutive quarters as Leaders in Fraud
Detection and Risk-Based Authentication (RBA), respectively, and
the 18th quarter as a Leader in E-commerce Fraud Detection.
Sift was also recognized as a Strong Performer in “The Forrester
Wave™: Enterprise Fraud Management, Q2 2024” report by Forrester
Research, Inc. The report highlighted Sift’s versatility in
managing customer segmentation and behavior profiles, and stated
that Sift “showed a convincing EFM vision, support for partner
onboarding and management, and a strong ecosystem of supporting
services and products.” With Sift’s position as a leader in “The
Forrester Wave™: Digital Fraud Management, Q3 2023,” the company is
the only privately held vendor to be named a Leader or a Strong
Performer in both analyst reports.
Community Growth & Expanding Executive
Team
As the company continues earning third-party recognition, its
own customer community has rapidly expanded. The Sifters customer
community, a global network of fraud fighters representing various
industries, has grown to over 1,500 members since its inception in
the spring of 2023, with fraud and risk professionals participating
in over 500 articles and discussions. This unique customer platform
was created to foster collaboration and knowledge sharing,
empowering members to stay ahead of emerging fraud trends and
challenges. In order to help customers hone their digital risk
strategies, Sift recently introduced exclusive access to expanded
data in Sifters from its Fraud Industry Benchmarking Resource
(FIBR).
In 2024, Sift also made key additions to its executive
leadership team by hiring Chief Financial Officer Steve Love and
Chief Product Officer Raviv Levi. Love was most recently CFO at
digital insights platform Heap, where he drove the company through
its acquisition by ContentSquare. Levi was previously Vice
President of Security Strategy and Innovation for Cisco’s
multi-billion dollar Security Business Group, where he led
innovation for the breadth of the company’s Security portfolio.
Innovation in AI-powered Fraud Prevention
In May 2024, Sift introduced a patent-pending innovation that
acts as an intelligent “cruise control” for fraud and risk teams.
Leveraging AI, RiskWatch automatically maintains block, friction,
and manual review rates to a target percentage of the riskiest
users while dynamically adjusting to changes in fraud activity,
seasonality, and market expansion. One Sift customer, a global
crypto exchange, successfully deployed RiskWatch as they were
launching into new markets, with the goal of maintaining stable
block and acceptance rates for transactions. With RiskWatch, the
company was able to increase and stabilize their acceptance rates,
unlocking $19M in new revenue during a single quarter.
"So far in 2024, we’ve seen first-hand how digital businesses
are being targeted by fraud actors who are weaponizing AI to
overwhelm their defenses. Fortunately, our customers are fighting
back to mitigate fraud and deliver a better experience for their
consumers,” said Kris Nagel, CEO of Sift. “Our industry
recognition, exceptional leadership team, community growth, and
introduction of RiskWatch further demonstrate that Sift is leading
the fraud prevention industry and enabling our customers to grow
fearlessly.”
To learn more, visit sift.com.
About Sift
Sift is the AI-powered fraud platform securing digital trust for
leading global businesses. Our deep investments in machine learning
and user identity, a data network scoring 1 trillion events per
year, and a commitment to long-term customer success empower more
than 700 customers to grow fearlessly. Brands including DoorDash,
Yelp, and Poshmark rely on Sift to unlock growth and deliver
seamless consumer experiences. Visit us at sift.com and follow us
on LinkedIn.
Media Contact:
Victor WhiteSenior Director, Corporate
Communicationspress@sift.com