Empowering Businesses Against Fraud: Sumsub's Device Insights
Fingerprint, a top provider of device intelligence, enhances Sumsub's comprehensive verification platform with vital real-time threat detection.
Sumsub, recognized as a global leader in verification, is actively upgrading its Fraud Prevention solution. This advance incorporates sophisticated Device Intelligence powered by Fingerprint, which stands as a leader in the market. The core purpose of this technology is to detect threats before they progress, offering real-time insights that maintain industry-leading accuracy of user integrity through the analysis of device behavior and network-level data, surpassing traditional IP tracking.
This additional layer of security enables businesses to effectively combat transaction fraud, identify and block bot activities, prevent the creation of multiple accounts, and deter account takeovers. Importantly, these measures occur without causing disruptions in user experiences or complicating the journeys of honest users.
Insights from internal data reveal a significant statistic: approximately 76% of fraud attempts happen after a user has completed onboarding. These attempts often occur during routine activities such as logins, transactions, and profile updates. This alarming figure underscores the necessity for businesses to monitor risks continuously throughout the entire customer journey. With Device Intelligence, companies can ensure real-time detection of suspicious behaviors that arise post-KYC verification. This technology proves particularly beneficial for industries deemed high risk, such as gaming, cryptocurrency, financial services, traditional banking, and online retail, where early detection of fraud is essential for safeguarding user accounts and maintaining platform integrity across global markets.
A key advantage of Device Intelligence is its approach to data. It does not collect personal or sensitive information but focuses solely on the technical parameters, like browser types and operating systems. Moreover, the integration with Fingerprint enhances capabilities by detecting incognito mode usage, developer tool access, and signs of remote software use, all of which may hint at suspicious activities or network behaviors. When paired with behavioral analytics and device fingerprinting, Sumsub's Device Intelligence greatly lowers the incidence of false positives — situations where genuine users are erroneously flagged as potentially unsafe. This ensures higher accuracy in fraud detection throughout the entire user experience, from initial sign-up to login, transactions, and even profile updates.
As Andrew Novoselsky, Sumsub's Chief Product Officer, shares, "We are merging our technology with Fingerprint's, an established expert in device intelligence. Our partnership fosters improved accuracy and a comprehensive fraud prevention framework — all without requiring any coding efforts from clients.' The integration allows businesses to have in-depth visibility into user integrity and the capability to thwart fraudulent activities in real time, effectively preventing potential monetary losses, disruptions to operations, and harm to reputation.
In his statement, Shaun Per, Vice President of Global Sales at Fingerprint, expressed excitement about their collaboration: "Introducing Fingerprint's sophisticated device intelligence to Sumsub's platform enhances our combined effectiveness. By joining forces, we offer superior accuracy and reliability along with Sumsub's robust identity verification and fraud prevention services — enabling businesses to gain deeper insights into user behaviors while providing real-time signals to reduce fraud and foster smoother onboarding experiences.'
Through the integration of enhanced Device Intelligence into its comprehensive verification platform, Sumsub is solidifying its commitment to delivering secure, frictionless verification solutions at every level of the customer lifecycle. For more information about this innovative tool, please visit Sumsub's official website.
To dive deeper into the capabilities offered by Sumsub's Fraud Prevention solution, potential clients can explore their website to discover tailored options for their needs.
About Sumsub
Sumsub is an end-to-end verification platform that ensures security throughout the user journey. Their solutions encompass customizable KYC, KYB, Transaction Monitoring, Fraud Prevention, and Travel Rule services, allowing businesses to streamline their verification processes, expand their customer base globally, adhere to compliance standards, minimize costs, and safeguard their operations.
With an impressive portfolio of over 4,000 clients spanning various industries including fintech, crypto, transportation, trading, education technology, e-commerce, and gaming, Sumsub serves name-worthy clients such as Duolingo, Bitpanda, Wirex, Avis, Bybit, Vodafone, Kaizen Gaming, and TransferGo.
About Fingerprint
Fingerprint, renowned for its cutting-edge device fingerprinting technology, empowers organizations to mitigate fraud and enhance user experiences. They analyze over 100 signals from devices, browsers, and networks to create a persistent and unique VisitorID, pivotal in understanding visitor behavior. Committed to exemplary data security and privacy, Fingerprint adheres to rigorous compliance standards including SOC 2 Type II, GDPR, and CCPA. With a client base exceeding 6,000 companies globally and a presence across 16% of the top 500 websites, Fingerprint assists in identifying advanced fraud tactics while customizing experiences for verified users.
Frequently Asked Questions
What is Device Intelligence?
Device Intelligence is a technology used to analyze device behavior and network-level data in real-time, allowing businesses to detect fraud before it escalates.
How does Sumsub enhance its fraud prevention measures?
By integrating advanced Device Intelligence from Fingerprint, Sumsub strengthens its verification capabilities to detect and prevent fraudulent activities effectively.
Can Device Intelligence protect user privacy?
Yes, Device Intelligence focuses on technical parameters instead of personal information, ensuring user privacy while enhancing security.
What industries benefit the most from Sumsub’s solutions?
High-risk industries such as iGaming, crypto, fintech, banking, and e-commerce gain significant advantages from Sumsub’s proactive fraud detection solutions.
How does the integration with Fingerprint improve fraud detection?
The integration combines advanced device tracking with Sumsub’s verification services, offering greater accuracy and reducing false positives across user interactions.
