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

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

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

Sift, the AI-powered fraud platform securing digital belief for main world companies, at present introduced its newest quarterly product replace, that includes an enhanced answer to guard companies from account takeover (ATO) fraud all through your entire client journey. Sift’s detailed evaluation of its clients exhibits that its ATO answer prevents a median of as much as $4.2 million per yr in fraud losses per buyer. Its complete strategy ensures that organizations can safeguard their customers from level of login to post-transaction, addressing the rising risk of ATO that resulted in almost $13 billion in losses in 2023 alone.

Fueled by a digitally-driven economic system, ATO assaults increased 24% in Q2 2024 in comparison with the identical interval final yr, when assaults skyrocketed by 354% in line with Sift analysis from 2023. Conventional options that search to cease account theft solely on the level of login usually fall quick, leaving companies susceptible to assaults that happen at completely different factors of the patron journey. Exacerbating the issue is that ATO usually lives between the cracks inside organizations, making it an “orphan” risk with no clear proprietor between Fraud and Safety departments. Sift permits these departments to collaborate and take possession of ATO by uniting knowledge and workflows which are accessible to each.

Key Developments with new Sift ATO answer:

• Id-Centric Accuracy: AI-powered insights, real-time behavioral evaluation, and expanded gadget fingerprinting present richer context round threat and consumer intent all through the patron journey.
• Highly effective Integrations: Unify and lengthen current Buyer Id Entry Administration (CIAM) workflows by means of low-code integrations, together with Ping Id PingOne DaVinci and Okta Auth0, accelerating time to worth and strengthening identification administration investments throughout the safety tech stack.
• Nice-Tuned Controls: Sturdy MFA capabilities and steady monitoring after login ship exact friction on the session degree. Pre-built, industry-specific automations generate speedy affect out of the field.

“Account takeover is a deeply linked downside that impacts a number of sides of a enterprise, from cybersecurity to finance,” mentioned Raviv Levi, Chief Product and Expertise Officer at Sift. “Conventional approaches usually end in fragmented knowledge and incomplete insights, making it tough to completely perceive and mitigate the affect of ATO. Sift’s distinctive strategy unites departments and knowledge, offering a single supply of fact for ATO prevention and eradicating boundaries to income.”

Extra improvements from Sift this quarter embody superior habits indicators and VIP Quick Move controls for top velocity transaction industries like iGaming and Fintech, in addition to expanded RiskWatch performance for sooner, extra insightful guide evaluations.

For extra details about Sift’s revamped ATO answer and different improvements, go to the Sift Weblog here.

About Sift
Sift is the AI-powered fraud platform securing digital belief for main world companies. Our deep investments in machine studying and consumer identification, a knowledge community scoring 1 trillion occasions per yr, and a dedication to long-term buyer success empower greater than 700 clients to develop fearlessly. Manufacturers together with DoorDash, Yelp, and Poshmark depend on Sift to unlock progress and ship seamless client experiences. Go to us at sift.com and observe us on LinkedIn.

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