Disclaimer: This article is based on various sources, including user reviews and comments, acquired through online research. Please feel free to get in touch with us if you demand an update or a correction.
Get to Know: Sift
Sift was founded by Jason Tan in 2011. They’re located in the USA, California. The company is widely known for its anti-fraud solutions and especially its main product, Digital Trust & Safety Suite. Since the day it was founded, the company’s value has reached $1 billion.
Sift is providing its services to customers from various industries including eCommerce, fintech, travel and hospitality, and entertainment. McDonald’s, Twitter, and Airbnb are among Sift’s well-known customers.
Products of Sift
Sift offers five different modules as products that all serve to detect and prevent fraud:
- Digital Trust & Safety Suite, which is the main anti-fraud product of Sift.
- Account Defense, which is the module used to prevent account takeovers.
- Payment Protection, which is used to detect payment fraud and automate the processes by machine learning.
- Dispute Management, which focuses on reducing chargebacks.
- Content Integrity, which detects various kinds of malicious content including spams, phishing, scams, etc.
Feature Comparison List of Sift and Formica Fraud
Why You Should Choose Formica Fraud
- To have comprehensive support in risk analysis
Although Sift is also using machine learning technology, in risk analysis processes you can’t get useful insights or suggestions from it. For Formica Fraud, risk analysis support is definitely one of our strong suits. We offer you AI and ML insights, as well as industry preset and custom rules.
- To clearly see what we’re offering beforehand
We promise you an increase in your success rate in fraud prevention, minimizing your false-positive rates and the loss to fraud. We don’t just promise, we also offer you a free trial for you to see what you can achieve through Formica.
- To have the comfort of real-time mobile reporting and alarm services
Formica provides real-time reporting and alarms for risky situations with the mobile application. By receiving real-time alerts before frauds happen, you can prevent potential damages to your business.
Why You Should Choose Sift
.png)
- If you need specific help with content fraud
Sift offers an individual product just to deal with content fraud. If your business needs extra attention in the field of content fraud it may be a good idea to prefer this separate module.
- If your team needs a hand with dispute management
Dispute management is clearly very important for every business. Although keeping this task in-house is the wise thing to do, documentation and finding related data/proof make up the most of dispute management. Using a boost for your team might be what your business needs.
- If you own a larger scale business
Sift has a lot of experience in working with enterprises. If you own a larger scale business, benefiting from Sift’s experiences may be a good reason to choose it.
Formica Fraud Highlights in a Nutshell
You can integrate Formica into any service or application that your company uses through API gateways. With the effective usage of AI (artificial intelligence), you can feel the support of modern technology in all processes. Formica’s machine learning models, which constantly learn from past or real-time data, offer you comprehensive insights about fraud scenarios that haven’t even occurred yet. It’s highly scalable thanks to the platform’s strong data processing skills so that you can always be ready for the increasing volume of data. Furthermore, since Formica offers you real-time mobile reporting you can always be in control!
