Tech3 | Startups hunt down digital fraudsters; Octoberfest for ONDC network players; and more

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In today’s newsletter:?

• Startups hunt down digital fraudsters?
• Octoberfest for ONDC network players
• How Cred makes money

Programming note:?Wishing all our readers a Happy Gandhi Jayanti. There will be no edition of MCTech3 on 2 October (Wednesday) and we’ll be back in your inbox on 3 October (Thursday)!

Startups hunt down digital fraudsters

What if the way someone typed, swiped, tapped, or held their phone revealed a different story? Imagine if their browsing history, recent purchases, login locations, or the device they used didn't align.?

• Could fraud be lurking beneath the surface?

A new era of fraud detection: A new wave of startups has emerged in recent years, developing AI-driven tools to track, map, and analyse potential fraud.?

• Perfios, IDfy, Signzy, Bureau, and Hyperverge are among the startups that have integrated their solutions with banks, fintechs, and NBFCs

The power of data: From typing style and browsing history to location-based analytics and social media behaviour, these startups are leveraging a vast array of data to identify red flags.?

• Proprietary algorithms and APIs are used to monitor transactions and assess customer credibility

Beyond finance: Fraud detection technology is also finding relevance beyond the BFSI sector.?

• Quick commerce, ride-hailing, real-money gaming, and matrimonial apps are partnering with fraud detection companies to verify partners and users?

These platforms are also implementing checks to prevent fraudsters from repeatedly exploiting discounts through the misuse of promotional codes.

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