Fintech Fraud Prevention Software

Regardless of the industry you work in, it is crucial that you are focused on security. Preventing fraud is crucial not only for growth but for the state of your company. And there is only so much you can do on your own. 

Fortunately, there are plenty of tools you can find online that can help you along the way. Getting fraud detection software is one of the simplest ways to make everything more secure and it is beneficial both for your business and your customers. 

But do you really need fraud detection? And if so, how do you pick one you will use? What are the best options available today? Here is all you need to know. 

Do You Need Fraud Detection Software?


The short answer is yes. If you have an online presence, it is crucial to take the necessary steps to prevent fraudulent activities. Now, there are different types of protection, each company will have its own priorities, and there is no universal solution. 

But none of this changes the fact that you need to have a way to prevent scams. Of course, the type of protection will depend on whether you are an individual or you own a business. Furthermore, each business is different and they will need a unique approach when it comes to security. 

But as long as you are dealing with customers and transactions, having a system that will protect both your customers and your income will be crucial for success. 

Why Is It Important?


Using fraud detection software is one of the simplest ways to protect your business. The most common type of cyberattack for companies is a data breach. This will allow attackers to get their hands on sensitive data, which can have a huge impact on the business. 

At the same time, e-commerce platforms are the most affected type of business not only in the U.S. but in the entire world. With how common the internet is today, the number of attacks is only growing. 

And it is in your best interest to do anything in your power to prevent something like this from happening. Businesses of all sizes are affected, but the main issue is that small businesses might not be able to deal with all the losses. 

Of course, the best method to deal with cyberattacks and fraud is prevention. Investing in software that will be able to protect your company is always a good investment, and it is something you should keep at the top of your priority list. 

The Best Fintech Fraud Prevention Software


Now that you have a better understanding of why fraud prevention is important, it is time to look at the best fraud prevention fintech software you can find today. There are plenty of different options and choices you can make, which is why you should go for a tool with proven success. 


ReactivePay offers a plethora of apps and APIs for companies and financial institutions, and it is one of the best options you can find today. The bank account API offers so many incredible features, and companies can even try out customer due diligence. 

When it comes to security, ReactivePay has a fraud prevention and payment monitoring API, which will provide an excellent way to protect your business. The API also has machine learning, statistics you can check out, and various filters to customize the experience even further. 

Key Features: 

And many more. 


Seon is a European company and it operates from offices located in Bucharest, London, Austin, and Jakarta. The company is focused on helping companies fight spam and fraudulent activities. 

The company was born out of necessity. The founders tried to find a tool that would offer the necessary protection, and after failing to find it, they started their own business. Today, Seon worked with thousands of merchants helping them save billions of dollars during the process. 

Key Features: 

And countless other features. 


Another great option worth checking out is Sift. The company was founded in 2011, and it has a long history of helping businesses stay safe and continue growing. Sift is one of the pioneers of digital safety, and over the years, the company worked with over 34,000 websites. 

There are also a variety of services you can check out. Sift offers payment protection, account defense, content integrity, and so much more. As you can probably guess, Sift works with fintech companies, retailers, and payment service providers, and others. 

Key Features: 

Sift can be a great option for your business.


IBM Trusteer

Trusteer launched in 2006, and the company is based in Boston. The company is a subsidiary of IBM, which is something many businesses will see as a huge advantage. This software security division was quite popular even before it was acquired by IBM in 2013, but the change in ownership only improved it. 

IBM Trusteer offers ways for businesses to improve security, and prevent fraud, and it also offers antivirus applications, as well as malware and phishing prevention. Plus, you can be sure that you will get a great service since Trusteer is a part of IBM. 

Key Features: 

IBM Trusteer is great for both small and large businesses. 


Signifyd is another company with a longer history, and it was founded in 2011 in the United States. The company is a product of two developers who left PayPal and decided to focus on security and fraud prevention. 

What is interesting about Signifyd is that it focuses on online stores, and the company has over ten thousand clients across the globe. Among the services are revenue protection, payment optimization, abuse protection, and so much more. And it is an excellent option for e-commerce platforms. 

Key Features: 

Even though Signifyd doesn’t offer real-time insight, it is still an option worth checking out. 


One of the ways you can lower the chances of fraudulent activities is to know who your customers are. And thanks to CertifID, this is something you will easily achieve. The company offers digital identity and device verification for businesses, and the clients come from many different spheres. 

This includes law firms, realtors, lenders, sellers, and so much more. Since wire transfers can be prone to fraud, CertifID gives a chance to all users to verify information and ensure nothing goes wrong during the process. 

Key Features: 

CertifID is focused on preventing wire transfer fraud, and it is focused on transparency. 


If you are unaware, e-commerce platforms are the most vulnerable systems today. And the majority of cyberattacks are focused on these stores. As a result, the losses for the current year are well over $40 billion. 

To prevent that, ClearSale has an excellent system, and it is solely focused on helping e-commerce websites across the globe. It is also one of the most complete fraud prevention platforms you can find today. ClearSale supports different languages, it’s easy to use, and it is something every e-commerce website needs to check out. 

Key Features: 

ClearSale is among the most popular ways to prevent fraud today. 

Stripe Radar

Stripe is among the most popular payment processors today, and it is not surprising that the company offers its own protection software as well. The best thing about it is that you don’t need to use Stripe to check out Stripe Radar. This is an automated online service that is able to verify customers during the transaction. 

It is also worth noting that Stripe shares its database of blacklisted users, which means that other platforms can benefit from all the data. Stripe Radar has multi-factor authentication, it’s easy to use, and it is constantly recalibrated to ensure the highest levels of protection. 

Key Features: 

Stripe is available globally, and it can be a great choice for your business. 


Based on the type of your business, you might be able to use PayPal. While this is primarily a payment processor, the company works on fraud prevention as well. Each transaction is monitored 24/7, there are multiple ways of preventing phishing or email scams, and there are multiple layers of security. 

It is one of the main reasons why so many businesses use this payment processor. Naturally, it is mostly focused on small businesses, but anyone can use PayPal. There are no limitations. However, you will need to use PayPal to enjoy all the security this platform brings. 

Key Features: 

It is worth noting that many businesses already use different payment methods and payment processing tools, which can pose a problem. 


For those who are looking solely for fraud detection and prevention, Kount can be an excellent option. This is an enterprise-level tool, and the company has over 15,000 clients across the globe. Kount has a global watchlist, a unique screening module, and even ways to deal with high-risk customers. 

It is one of the most versatile tools on the list, and it is not focused solely on e-commerce platforms. It also offers a level of automation you can explore, and ways to customize the entire experience. 

Key Features: 

Kount is based in Idaho, but the services are available globally. 

How To Choose?


So, the only remaining question is how to pick the tool you want to use. There are so many factors that should affect your decision. And unfortunately, your budget will play an important role in it. 

Furthermore, there are fraud prevention tools that are designed for e-commerce platforms, and there are those that can be used by nearly anyone. Your industry will play a role in the choice, your business plan, the type of customers you have, and others. 

Check out each of these features, and see which one fits your needs. The most important thing for you is to ensure that your business is protected and that you can continue growing without worrying about potential issues and fraudulent activities that may happen along the way. 

Just remember, prevention is the key to success. 

Leave a Reply

Your email address will not be published. Required fields are marked *