SINGAPORE--(BUSINESS WIRE)--DataVisor, a leading fraud detection platform, announced today that it has been enrolled into Singapore’s Infocomm Media Development Authority (IMDA)’s SG:D Spark programme. The programme would empower DataVisor to advance its growth in Singapore and the region by gaining access to leading industry partners, government tools and grants. DataVisor looks forward to supporting the digital transformation of businesses in Singapore, in alignment with the digital economy vision.
“We are delighted to be chosen for the SG:D Spark programme as it will enable us to harness the opportunities generated by the digital economy and help our customers address the immense challenge of fraudulent attacks,” said Yinglian Xie, CEO and co-founder of DataVisor. “We look forward to working with IMDA and the industry to advance our mission of making the internet safer for the businesses and contributing to the nation’s drive towards a digitized economy.”
“With the growing opportunities for AI in Singapore and the region, we are glad that DataVisor has decided to set up their Asia RHQ in Singapore. Through the SG:D Spark programme, we will work with DataVisor to integrate them into the Singapore tech ecosystem and accelerate their market discovery, thereby supporting the growth of DataVisor in Singapore,” said Mr. Edwin Low, Director of Accreditation@SGD and SG:D Spark programme.
DataVisor's rapid customer growth in Asia has come through as online fraud increases in the region, prompting greater interest in fraud detection solutions. According to the World Economic Forum's 2017 Global Risks Report, cyberattacks are considered one of the top five risks of doing business in Asia Pacific. With a USD 40 million Series C round of financing in February 2018, DataVisor is expanding its global footprint in the fraud detection and prevention market. According to Gartner, by 2021, 50 percent of enterprises will have added Unsupervised Machine Learning (UML) to their fraud detection solution suites.
About DataVisor
DataVisor is the next generation fraud detection platform based on cutting edge AI technology. Using proprietary unsupervised machine learning algorithms, DataVisor helps restore trust in digital commerce by helping businesses proactively detect and take action on fast evolving fraud patterns. Combining advanced analytics and an intelligence network of more than 4B user accounts globally, DataVisor protects businesses against financial and reputational damage. The DataVisor solution is deployed across a variety of industries, including financial services and e-commerce and social platforms.
