SCALED RISK CITED IN LEADING INDEPENDENT RISK MANAGEMENT REPORT

PRESS RELEASE - Paris, 3 December 2015

Scaled Risk was cited in Forrester’s TechRadar™: Risk Management, Q4 2015, a leading independent report surveying 225 vendors, customers and thought leaders in Risk Management technologies.

Scaled Risk was listed in the Fraud Management Category among 11 other vendors. Forrester’s survey also highlighted the critical business value and time-to-market of Fraud Management technologies. According to the analysts, such solutions “offer the highest level of business value to organizations today (compared to the other categories in this TechRadar)”. Fraud Management solutions are also here to stay : Forrester does not expect the demand to decline before at least 10 years.

As banks face ever-demanding KYC/AML obligations with tougher enforcement from regulators (BNP Paribas, JP Morgan Chase and Barclays faced billion-dollar fines in the last 2 years) and payment fraud continues to rise sharply (Ingenico reports that financial services faced a 0.79% chargeback rate in 2015, increasing by 17,5% from 2014), compliance and payment managers are now turning to more advanced technologies to step-up their anti-fraud capabilities.

A 2014 survey by KPMG highlighted today’s top 2 priorities for anti-fraud managers : (1) increasing the depth of information available on counterparties and (2) reducing the processes’ latency to approach real-time detection.

Scaled Risk’s big data technology & real-time detection capabilities constitute a critical response to our customers’ pain points”, Scaled Risk’s CEO Hervé Bonazzi stated. “As regulators put an ever-growing pressure on banks and payment providers, as fraud systems become more and more sophisticated, Forrester’s report reinforces our view that you cannot fight a new disease with an old cure.”

What is Scaled Risk ?

Scaled Risk provides a turnkey solution to detect payment fraud on a global scale in a swift and cost-efficient manner. Based on a big data architecture, Scaled Risk’s technology is able to centralize, structure and analyze in real-time all its customers’ internal data (of any format and from any source) as well as external data such as corporate repositories, local news reports or social media streams.

Scaled Risk’s algorithms crunch millions of data points to detect fraudulent patterns in real-time, allowing its customers to react in a breeze. Our machine learning technology adapts to each organization’s processes to refine the patterns and reduce false positives significantly over time.

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For press inquiries, please contact Edouard at pr@scaledrisk.com