Company: Fraugster
CEO: Christian Mangold
Website: https://www.fraugster.com/
Description: Fraugster is a payments intelligence company that helps the e-commerce ecosystem to minimise fraud and maximise revenue by making smarter real-time business decisions.
About Fraugster
Fraugster is a payments intelligence company that helps the e-commerce ecosystem to minimise fraud and maximise revenue by making smarter real-time business decisions. They support customers to reduce false positives, the total cost of fraud and improve checkout experiences. Additionally, they are delivering significant revenue uplift for clients. Their AI decision engine is one of the most accurate in the world and can be applied across industries, payment methods and fraud use cases. They are backed by Europe’s leading tech investors: Munich Re Ventures, Earlybird, Commerzbank Ventures and Speedinvest. They operate globally across industries and secure all payment methods.
The company was founded in 2014 as the owners found that the entire payment risk market was based on outdated technology. Existing rule-based systems as well as classical machine learning solutions are expensive and too slow to adapt to new fraud patterns in real-time. Fraugster invented a self-learning algorithm that mimics the thought process of a human analyst, but with the scalability of a machine, and gives decisions in as little as 15 milliseconds.
2022 saw Christian Mangold formerly the company’s Co-CEO appointed CEO of Fraugster. Since his appointment he has unveiled a new modular approach, which unifies Fraugster’s services by offering access to multiple, interoperable products via one integration. This is a real game changer within a fragmented industry. Fraugster gives customers the ability to add solutions with ease as they face new challenges, threats and opportunities. This means the ability to strengthen compliance procedures by making use of Sanctions & PEP lists, and Merchant Monitoring Products. As well as tools that create more efficient revenues by better assessing the risk of buyers through their Alternative Credit Decisions solution, and by providing a more seamless experience to their customers with our PSD2 Exemption Tracking.
Recent partnerships with Payaut, Elvah, and Mondu were announced in two new spaces that they have entered – e-Mobility & BNPL for B2B. Fraugster has spoken and been on panels at key industry events. Similarly, they have appeared in top payments and fraud publications highlighting their thought leadership in the industry.
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