Arkose Labs Named “Firm to Watch” in Aite-Novarica Fintech Spotlight

In its inaugural Risk Insights and Advisory Fintech Spotlight, Aite-Novarica Group highlights Arkose Labs for our innovative approach to fighting fraud and our industry-first credential stuffing warranty. Read on to know why we have also been named as a firm worth watching

I am excited to share that our innovative approach to fighting fraud has once again received industry validation, this time by Aite-Novarica, in its inaugural Risk Advisory and Fintech Spotlight, Q2 2022. What makes this recognition special is that we have been highlighted as a ‘firm to watch’.

This recognition is the second consecutive industry analyst report that shines the spotlight on our knack for innovating technology that works. We recently received the highest score possible in The Forrester Wave: Bot Management, Q2 2022 report in the innovation roadmap criterion.

Fraud and online abuse are on an upward swing, with an 85% year-on-year increase on attacks targeting log-ins and sign-ups. Using bots, human click-farms – and a combination of both – attackers are launching complex and strategic hybrid ‘cyborg’ attacks. They are also bypassing fraud defense mechanisms with innovative tactics, leaving businesses flummoxed and engaged in a constant cat-and-mouse game with the attackers.

Legacy and point solutions fail to provide the level of security that businesses need today. Despite significant investments in security solutions, businesses are still not able to strike a balance between fraud prevention and user experience. Arkose Labs makes it possible for businesses to fight digital fraud deterministically while maintaining great user experience for genuine consumers.

Innovative approach to fighting fraud

We help businesses balance fraud prevention and user experience with an innovative approach. Our Arkose Protect  product assesses the risk associated with every incoming user in real-time and presents adaptive step-up challenges, enabling consumers to prove their authenticity. Bots – even with human-like, advanced capabilities – fail instantly as our proprietary challenges are trained against the most advanced machine-vision technology.

For persistent, malicious humans, the challenges become incrementally complex, requiring attackers to spend more time and resources. Increased costs of attacks erode profitability, eventually bankrupting the business model of fraud and forcing attackers to move on to softer targets that do not have Arkose Labs’ protection. We share attack insights with our customers so they can fine-tune their internal models to fight evolving attack tactics with confidence.

Taking cognizance of these capabilities, Aite-Novarica describes our platform as one “that identifies sophisticated bot attacks and mitigates those attacks through unique challenge techniques while also delivering risk insights and enabling transparent data sharing capabilities to its clients.” The report notes that our solution is helping businesses face the growing challenge of “industrialized fraud attacks”. It states “Arkose Labs brings to bear a robust set of bot mitigation technologies and some unique capabilities in terms of its enforcement challenges and its credential stuffing warranty.”

Driving results for our customers

We are elated to be highlighted as a firm to watch for our “understanding of the challenges associated with industrialized fraud, rapid deployment capabilities, and ongoing commitment to innovation.” This citation is yet another validation of our fundamentally different approach that looks to bankrupt the business model of fraud.

Our customers are better positioned to ensure consumers’ account security without disrupting user experience for legitimate consumers. The report takes note that our capabilities “are driving results for Arkose’s clients, which range from top global banks to large e-commerce merchants to nascent crypto firms.”

Onward and upward

Coming soon after the recognition in the latest Forrester Wave research report as as ‘Strong Performer’ in Bot Management, this appreciation is yet another shot in the arm. It will motivate us to continue innovating, strengthen our best-in-class platform, introduce many other industry-firsts like our $1M credential stuffing warranty, and launch new products such as our latest Arkose Detect, to help businesses move toward fraud deterrence.

These industry recognitions are a result of teamwork of a number of stakeholders including our employees, customers, and investors. Thank you for all your hard work and continued support. Together we will work to achieve our mission: to create an online environment where all consumers are protected from malicious activity.

To read the full citation in Aite-Novarica’s Advisory Fintech Spotlight, Q2 2022, please request your copy of the report here. 

*** This is a Security Bloggers Network syndicated blog from Arkose Labs authored by Anna Lundberg. Read the original post at: https://www.arkoselabs.com/blog/arkose-labs-named-firm-to-watch-in-aite-novarica-fintech-spotlight/