Q5: New AI engine based solution prevents fraud attempts. The SaaS solution Shape AI Fraud Engine (SAFE) protects companies and consumers.
F5 has released the new SaaS solution Shape AI Fraud Engine (SAFE). It prevents fraudulent online transactions that existing security solutions fail to detect. Based on Shape's industry-leading know-how, SAFE uses a proven AI engine to evaluate every online transaction across a variety of telemetry, environmental and behavioral data. It recognizes the user's intentions exactly and blocks human fraudsters - before the attempt is successful.
New solution relieves users with greater security
Traditional fraud prevention tools use weak information and static rules. Often times, they cannot clearly determine whether the user's intention is good or bad. They put additional burdens on legitimate users to prove their identity through hurdles such as multi-factor authentication (MFA). The result: bad experiences for good users as well as financial losses and frustration if fraudsters get through anyway.
In contrast, SAFE is a fully managed, AI-based offering that stops scammers in real time. It reduces the time required for legitimate users by up to 90 percent. It detects and blocks emerging threats. In this way, SAFE protects modern and conventional applications and helps companies to accelerate their digital processes and to reduce the enormous workload of the fraud prevention teams.
SAFE - 250 percent more attempted fraud discovered
SAFE detects fraudulent transactions throughout usage, from creating a new account to logging in to checkout and sending payments and other actions. SAFE uses AI to correctly detect and block malicious intent. The solution has the intelligence to help applications scale and adjust performance, security, and other critical services as needed. SAFE typically detects twice as many fraud attempts per month as other current tools. A major North American bank discovered 60 percent more account transfer fraud attempts with SAFE in 250 days than with their existing solutions. This resulted in an avoidance of $ 10 million per year in fraud losses.
SAFE actively blocks fraud without the need for security teams to create or maintain policies. For one customer, SAFE safely blocked 67 percent of fraud cases without having to investigate. With another customer, SAFE discovered 33.000 malicious transactions within six weeks that were blocked instead of investigated.
More on this at ShapeSecurity.com
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