SEON unveils product updates to help customers battle online fraud

SEON has announced several new upgrades across its product offering. In recent weeks, the company has refined its product dashboard and updated some of its APIs.

SEON, the go-to fraud prevention solution for ambitious FinTech leaders, like Revolut, NuBank, Afterpay, Sorare and Mollie has announced a slew of new upgrades and updates to its innovative product offering. As well as updating its dashboard with new customization options and widgets, the company has upgraded internal codes and APIs to offer customers the most comprehensive fraud prevention solution possible.

SEON has revamped its product dashboard to allow customers to connect with relevant data and stats in a more intuitive manner. Customers can now add extra widgets to the home screen of their dashboards, which include new location, and filter options. Alongside this, the company has revamped the code and algorithms used under the hood of its system, enabling it to run faster than ever before.

The new widgets help customers to see which countries have the highest approval and decline rates. In turn, this makes it easier for customers to recognise the riskiest parts of their operations. Moving forward, customers can use the widgets to see the ratio of transactions that are approved or declined at a glance. In addition, the new widgets help to highlight the top rules that get triggered during fraudulent transactions, enabling customers to quickly identify suspicious behaviours during peak periods.

Thanks to the new update, SEON’s solution is now primed for further optimisations in the coming months. Moving forward, customers should expect to see further refinements made to the product interface, as well as an important update to the company’s leading digital footprint solution. As a company, SEON is continually listening to its ever-expanding user base and adapting its solution to best align with the needs of its customers.

Speaking on the upgrades, Jimmy Fong, Chief Commercial Officer at SEON commented: “We understand the importance of continually updating our solution in line with the real demands of our customers. That’s been achieved through this raft of new product updates, which put us in the best position ever to fight fraud globally. However, our pursuit of perfection is a never-ending process and customers should expect more upgrades soon”.

Alongside the updates, SEON has also adapted the internal APIs used within its system to reflect new regulatory changes within the payment sector. To this end, the company’s system now accepts eight-digit bank identification numbers (BIN), which will become the industry standard as of April 2022. Moving forward, SEON’s BIN lookup system will now accept longer BIN numbers, while still retaining all its previous functions.

By adopting these new updates, SEON is putting itself in a better position than ever to fulfil its core business aim of ‘democratizing the battle to end online fraud’. The burgeoning company continues to reach new heights in the technology and FinTech sectors. Highlighting this success, SEON was recently named as having the ‘Cyber Security Solution of the Year’ at the influential FSTech Awards.