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Disruptive approach combines continuous security and fraud prevention, with a 'trust nothing' approach to data privacy and proactive risk protection
SAN FRANCISCO, April 19, 2023 /PRNewswire/ -- Darwinium today announced the launch of its Continuous Customer Protection platform, an evolutionary next step for security and fraud prevention for all digital businesses concerned about customer experience and security. The company's disruptive approach delivers security and fraud prevention at the edge, where businesses serve digital content closer to customers' browsers and mobile devices.
Darwinium will showcase its Continuous Customer Protection platform at RSA Conference 2023 in San Francisco, Calif., April 24-27.
The platform breaks new ground by solving the challenge of disconnected point-in-time API integrations and risk scores, which lead to data breaches and dissatisfied customers. Darwinium proactively closes the gaps between digital security and fraud prevention silos with continuous visibility and control across customer journeys as they interact over web, mobile and APIs. As a result, it enables digital businesses to adapt to customer behavior faster than fraudsters can, improving the user experience and giving Darwinium's clients an advantage in the ongoing survival of the fittest battle.
In addition, Darwinium has pioneered a new SaaS approach to managing sensitive customer data by identifying, encoding and encrypting data on the edge. Any analyzed customer data is stored within an organization's own infrastructure with its own keys. This supports more streamlined compliance with regulations such as the California Consumer Privacy Act of 2018 (CCPA) and the EU General Data Protection Regulation (GDPR). The platform enables auditable anonymized shared intelligence without giving up the keys to customer data or requiring a forklift install.
"Our research shows 81 percent of businesses agree that fraud controls impact customer friction, which can lead to lost sales. Couple that with the fact that annual global fraud losses are measured in trillions of dollars, often putting merchants and financial institutions in a no-win situation," said Alisdair Faulkner, co-founder and CEO of Darwinium. "To create a low-friction customer experience while also enabling optimal fraud and security controls, Darwinium has architected a new path forward for improved fraud detection in real time that performs dramatically better and faster and takes only minutes to deploy—all while providing a positive and privacy-protected customer online experience and frustrating fraudsters."
By taking an edge-based approach, Darwinium has created a solution that sees full visibility of customer journeys across every digital touchpoint and normalizes decisions from legacy solutions. Darwinium has been recognized as a Representative Vendor in the 2022 Gartner® Market Guide for Online Fraud Detection,* as well as a Representative Provider in the 2022 Gartner Innovation Insight: Journey Time Orchestration Mitigates Fraud Risk and Delivers Better UX report.**
In the Market Guide for Online Fraud Detection*, Gartner analysts, Akif Khan and Dan Ayoub, recognize that "Detecting fraud in digital channels is a challenge, due to the competing requirements of dealing with emerging attack vectors and delivering a smooth user experience." They recommend that "Security and risk management leaders must orchestrate multiple capabilities to create dynamic user journeys, while minimizing risk."
"We are currently working with payment service providers, fintechs, gaming companies and online marketplaces," said Faulkner. "The challenges online U.S. businesses face with surging fraud and operational silos, combined with our unique solution make this an ideal time to expand and enter the market in force."
Darwinium's Disruptive Technology
Today, most security and fraud solutions require a heavy integration effort and must be implemented across multiple points in a customer journey. They also typically rely on the sharing of personally identifiable information (PII) to make a risk decision. Darwinium revolutionizes this approach, and instead integrates at the edge, in front of the business' web traffic, so that it can provide full visibility across the customer journey as well as in situ encryption of customer data.
Because the integration happens through the customer's existing content delivery network (CDN), it can be live in as little as 15 minutes. In combination with journey orchestration and decision management, this delivers a simpler, faster time-to-value that provides immediate visibility across every digital interaction. It saves time and money, empowering organizations to adapt and be proactive in reducing fraud and abuse and improving the digital customer experience for legitimate users.
Reed Taussig, board chairman for Darwinium said: "The Darwinium team's vast experience enables them to deliver a platform that breaks down the barriers between security and fraud to provide end-to-end visibility, enabling businesses to make better risk decisions that reduce fraud and deliver a better experience."
Appropriate use cases for the Darwinium platform include account security, scam detection, account takeover, fraudulent new accounts/synthetic identities and bot intelligence.
Darwinium's executive team will be onsite to demonstrate its Continuous Customer Protection platform at RSA Conference 2023 in San Francisco, Calif., April 24-27, Booth ESE-38 South Expo Hall Level 2, at Moscone Center. For more information, or to request a 1-on-1 meeting with a Darwinium security and fraud prevention expert, please visit Darwinium.
*Gartner, Market Guide for Online Fraud Detection, Akif Khan, Dan Ayoub, 12 December 2022.
**Gartner, Innovation Insight: Journey-Time Orchestration Mitigates Fraud Risk and Delivers Better UX, Akif Khan, 10 June 2022.
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About Darwinium
Darwinium's pioneering customer protection platform takes security and fraud prevention to the edge, removing the operational burden of implementing and maintaining API-based solutions. Darwinium provides complete visibility and control of every digital interaction - across web, apps and APIs - to identify bad behavior, in real time. Businesses can make more accurate, real-time decisions, and take dynamic, tailored remediation that favors the customer and not the fraudster. Enjoy dramatically reduced latency, improved agility and absolute privacy of user data.
