Overview

Rippleshot’s founders spent 12 years working together at Pattern Recognition, a traditional fraud analysis company. Their main client was Discover Financial, where their technology went head-to-head with FICO’s Falcon product, beating it in fraud capture and false-positive performance. With this deep knowledge of banking software and fraud analysis, the founders saw the steady rise of breach-related frauds as the primary threat to payment card security, yet almost no work was being done to address the problem. They spun themselves out into Rippleshot to directly provide cutting-edge breach detection solutions to issuers and merchants.

Rippleshot detects payment card data breaches dramatically faster than current, fragmented approaches. This allows card issuers, processors and merchants to proactively monitor for suspicious activities. When breaches occur, Rippleshot helps issuers implement smarter fraud risk management strategies. And for merchants, Rippleshot alerts them early, when the breach (and the financial risk) is still small.

Current fraud detection systems look for changes in consumer behavior: does this transaction look like Mr Smith’s previous transactions? By changing the focus from the consumer to the merchant, Rippleshot lets banks move from reactive (is this transaction fraud?) to proactive (should I watch or reissue all of these cards?). Rippleshot’s expertise, intellectual property and analytical approach can result in the reduction in annual fraud losses of 20-40%.