Sift Accelerates into 2023 with Global Data Network Processing More Than One Trillion (1T) Events per Year
Digital Trust & Safety Leader’s Growing Data Consortium, Product Innovations Provide Online Businesses with Complete Platform to Protect Against Fraud
SAN FRANCISCO, Feb. 28, 2023 (GLOBE NEWSWIRE) — Sift, the leader in Digital Trust & Safety, today announced that it now processes more than one trillion (1T) events per year within its global data network. The network represents shared signals from Sift’s consortium of customers that feed into Sift’s machine learning models. As Sift’s network grows, it becomes more intelligent and capable of proactively identifying both fraudulent and legitimate activity, providing customers with unparalleled accuracy in their risk decisioning. Likewise, when fraudsters attack any one Sift customer, the relevant data is automatically used by Sift for the benefit of other customers in the Sift network.
In addition to the growth of its network, Sift released several new capabilities in the last year designed to provide businesses with increased transparency and control, particularly within Sift Workflows—Sift’s patented tool for building and managing fraud logic and applying Dynamic Friction across the user experience. Recent enhancements include:
- Workflow Route Metrics: Analyze the performance of fraud automation tooling through full and granular observability to maximize revenue and minimize fraud.
- Workflow Run Log: Understand and explain any automated transaction decision in the context of the moment the decision was made, saving analysts time and improving future decisioning.
- Bulk Decisions in Queues and Searches: Block coordinated fraud attacks with only a few clicks to save time and protect revenue.
- Segmented Reporting: Filter fraud data by payment details, brand, and merchant to better understand transactions and prevent future attacks.
- Improved Network Visibility: Recognize connections between different fraudulent signals and block malicious user-generated content with Text Clustering in Sift’s Content Integrity product.
Acquiring six patents in 2022 and a total of 31 since its inception, Sift has set an aggressive product roadmap for the year, focused on extending its capabilities to help risk teams fine-tune risk decisions and prevent emerging types of fraud.
“Fighting fraud is a team sport, and the growth of our global data network—our community of customers—is proof,” said Kris Nagel, CEO of Sift. “Fraudsters are evolving, employing automation and testing for weaknesses at every turn in order to steal from businesses and their customers. By employing a Digital Trust & Safety strategy, one that protects against fraud while reducing friction for legitimate users, risk teams can not only protect revenue but be catalysts for growth.”
Read more about Sift’s growing global data network here.
About Sift
Sift is the leader in Digital Trust & Safety, empowering digital disruptors to Fortune 500 companies to unlock new revenue without risk. Sift dynamically prevents fraud and abuse through industry-leading technology and expertise, an unrivaled global data network of one trillion (1T) events per year, and a commitment to long-term customer partnerships. Global brands such as DoorDash, Twitter, and Wayfair rely on Sift to gain a competitive advantage in their markets. Visit us at sift.com, and follow us on LinkedIn.
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