DENVER--(BUSINESS WIRE)--Today, a breakthrough identity intelligence company—Fideo Intelligence™ (Fideo)—has launched to transform the fight against fraud. Inspired by the concept of “Fides Publica,” or public faith, Fideo is enabling intelligence-informed decisions for the public good. Fraud has been proliferating and costing businesses billions of dollars annually1. Identity verification and anti-fraud platforms combating and investigating these crimes struggle to keep pace due to fast-moving fraudsters and limited data sources. Fideo is mission-obsessed with helping these platforms identify and prosecute fraudsters with its real-time actionable intelligence and industry-leading speed and accuracy.
Fideo’s powerful intelligence identifies more accurate digital personas by fusing digital, transactional, behavioral, device-related, geospatial, and historical fraud data together to give platforms the ammunition needed to keep pace with potential fraudsters. The company’s proven, patented continuous learning engine offers a sophisticated approach to analyzing interconnected data, in which businesses can uncover anomalies and patterns, enhancing the ability to identify and prevent fraud.
"As companies transform digitally, verifying the authenticity of identity information is more challenging than ever. Fraudsters use a mix of real-world information from a mixture of people to create synthetic identities that are becoming increasingly difficult to detect,” said Chris Harrison, CEO of Fideo Intelligence. “With Fideo, we aim to tackle this problem head-on by providing advanced, real-time data that continuously evolves to outpace fraudulent activities. Our goal is to empower businesses with the tools they need to identify and prevent fraud, ensuring a safer and more secure digital environment for everyone."
The Fideo team has experience across financial institutions, insurers, retailers, and healthcare providers, bringing together unparalleled knowledge about the safety and security of data and how to use first- and third-party data signals to detect anomalies related to the identity of consumers. The combination of the strength of the Fideo team with patented entity resolution technology gives a competitive advantage to Fideo’s customers. By integrating seamlessly with existing anti-fraud systems, Fideo provides the breadth and depth of identity signals that businesses need to elevate identity verification, risk assessments, and fraud detection to new heights.
Among key benefits, Fideo aims to enhance fraud protection across various sectors by:
- Enhancing fraud platforms with unique, scalable data, improving risk algorithms, and ensuring the safety of financial transactions.
- Seamlessly verifying identities within financial software platforms to ensure the safety of financial transactions.
- Providing early warning signals to communications companies to protect onboarding processes from fraudulent activities.
- Enabling real-time research and link analysis for the intelligence community to identify potential threats and improve investigative capabilities.
- Mitigating potential losses for merchants and small and mid-sized businesses (SMBs) from bad actors and synthetic fraud with comprehensive identity verification.
For more information about Fideo and its innovative solutions, visit www.fideo.ai.
About Fideo Intelligence™
Fideo Intelligence™ (Fideo) is an Intelligence company backed by Baird Capital, Blue Note Ventures and Foundry Group. The company provides crucial intelligence to protect people, businesses, and communities, and powers real-time data solutions and identity intelligence for platforms serving the fraud, finance, and insurance sectors, communication companies, the intelligence community, and SMBs. Fideo’s trusted intelligence safeguards people and customers, protects revenue, simplifies security, informs algorithms and helps businesses conduct thorough investigations. Learn more at www.fideo.ai.
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Federal Trade Commission, 2023 Fraud Data and Analysis, Published: February 9, 2024 |
