Behavioural analytics software provider, Pasabi, has seen a sharp rise in interest in its AI Analytics platform for online fraud detection, with a number of key wins including a global luxury brand group, and online reviews platform, Trustpilot.
The accelerated growth in e-commerce and marketplaces, largely as a result of the pandemic, has led to a surge in fraudulent behaviour online. Demand for Pasabi’s solutions is being driven by customers taking a more strategic and effective approach to online fraud detection, to tackle increasingly sophisticated threats.
The scale of the challenge for brands and businesses means that the traditional ‘whack-a-mole’ method of dealing with one offence at a time is no longer an effective strategy - a more tactical and analytical approach, looking at negative online behaviours across multiple channels, is needed to successfully address the problem.
These market shifts come at a time of significant regulatory change. Across the globe, new legislation is coming into force that alters the balance of responsibility between users, brands and the platforms that promote them digitally. For example, the EU Digital Services Act and US Shop Safe Act will require online platforms to take greater responsibility for the content on their websites, a responsibility that was traditionally the domain of brands and users to monitor and report.
Chris Downie, Pasabi CEO says: “Online fraud has emerged as a persistent and growing problem. Up until now, it has not been clear whose responsibility it is to tackle this complicated issue. The sheer scale of the data involved has overwhelmed many companies, and that was even before the recent accelerated shift to online as a result of Covid. This has left platforms facing a dangerous and poorly understood fraud issue without the adequate tools, resources or regulatory motivation to solve these problems.
“However, with regulatory change on the horizon and consumer demand for fraud-free experiences high, platforms have sought the skills and tools of innovative startups like Pasabi to help meet the challenge.”
Chris continues: “Pasabi’s technology uses AI-driven, behavioural analytics to identify bad actors across a range of online infringements including counterfeit products, grey market goods, fake reviews and illegal content. By looking for common behavioural patterns across our customers’ data and cross-referencing this with external data that we collect about the reputation of the sources (individuals and companies) the software is perfectly positioned to help online platforms, marketplaces and brands tackle these threats.
“Through analysis of hundreds of data points, we can detect the worst offenders at scale, identifying patterns of behaviour in the data, uncovering networks working together to mislead consumers, and giving companies the ability to focus their resources where they’re needed most.
“Our partnership with Trustpilot demonstrates the extensive capability of our technology and the need for online platforms, big and small, to capitalise on technology to protect businesses and their customers.”
Anoop Joshi, Senior Director of Legal at Trustpilot, said: “Pasabi’s technology provides Trustpilot with the insight our legal, fraud and investigation teams need to strengthen existing capabilities, and take the action we need to take. It is of the utmost importance to Trustpilot that our reputation for honest, accurate and trusted reviews remains protected. Deploying Pasabi’s technology to support our existing approach to manage this challenge has been instrumental in delivering a trusted user experience.
“Pasabi’s technology finds connections between individuals and businesses, highlighting suspicious behaviour and content. For example, in the case of Trustpilot, this can help to detect when individuals are working together to write and sell fake reviews. The technology highlights the most prolific offenders, and enables us to use our investigation and enforcement resources more efficiently and effectively to maintain the integrity of the platform.”
Pasabi's AI behavioural analytics technology enables online marketplaces, platforms, communities and brands to deliver a more authentic and trusted digital experience.
Our unique approach of combining customer and external reputation data delivers the insights our customers need to understand who they can trust. By detecting illegal content, such as counterfeit products, unauthorised goods and fake reviews, we help our customers deliver a fraud-free user experience. www.pasabi.com