Key Takeaways:
- Nethone, a Polish startup, uses machine learning for fraud prevention.
- Proprietary profiling enriches understanding of every single user with over 5000 attributes.
- Recognized as Poland’s fastest-growing company in the 2021 Deloitte Technology Fast 50 Central Europe.
- Nethone’s success demonstrated in cooperation with 50+ global e-commerce, digital goods, and financial companies.
Introduction:
Online security remains an enduring concern for both companies and individuals, but Warsaw-based Nethone is making strides in using artificial intelligence to tackle fraud. Cybersecurity, a cornerstone of secure online commerce, requires innovative and flexible solutions to stay one step ahead of criminals. Nethone’s approach, uniquely termed as “Know Your Users (KYU)”, involves a holistic understanding of the end-users to detect and prevent fraud.
Founded in 2016, this startup operates in the intersection of various industries including artificial intelligence, fintech, cybersecurity, and risk management. Using its proprietary online user profiling and machine learning technologies, Nethone has rapidly become a leader in the domain- a feat acknowledged by Deloitte which named Nethone as Poland’s fastest-growing company in 2021.
Differentials of the Startup:
Nethone’s unique selling proposition is its ability to merge advanced AI techniques with a deep understanding of individual users. This commitment to user profiling is demonstrated by their proprietary profiler that enriches the understanding of every user with over 5000 attributes, which are processed in real-time by a decision engine. This allows Nethone to differentiate genuine customers from fraudsters effectively, ultimately facilitating lower rejection rates and cost of manual reviews for their clients.
Another important differential is the startup’s devotion to preserving user experience. Nethone’s solutions are designed to lower the risk of fraud and reject only fraudsters without compromising the overall user experience. The sheer scope of Nethone’s clientele – spanning e-commerce, digital goods, and financial industries, attests to the success of their strategy.
Conclusion:
Nethone’s significant growth makes it a startup to watch. The wide applicability of its central premise, ‘Know Your Users’, makes it a potential game-changer in the rapidly expanding FinTech industry. Furthermore, as digital transactions continue to proliferate, Nethone’s technology has the potential to revolutionise cybersecurity practices and become an integral part of our financial systems. Simultaneously, the startup upholds a commitment to providing a seamless user experience, thus not sacrificing usability in favour of security.
To keep abreast of Nethone’s exciting developments, you can follow their journey on Twitter, Facebook, and LinkedIn. For a more detailed insight into their work or potential collaborations, visit their website.
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