Rippleshot, a provider of proactive fraud detection and prevention solutions to financial institutions and their customers, has been named a finalist in the annual Finovate Awards as “Best Back-Office/Core-Service Provider.” The category serves to recognize the companies that excel in back-office and core-services solutions, allowing FIs to seamlessly manage daily operations, engage with new tech solutions and establish new products and processes.

Incorporating tools like AI and machine learning, Rippleshot enables FIs to reduce member friction and prevent back-of-wallet placement. Rippleshot’s solutions have a proven track record of leveraging real-time fraud scores based on FIs’ risk profiles to identify exactly which cardholders are compromised and automatically reissue affected cards. 

Not only does Rippleshot position FIs to both strengthen their security posture and reduce the overall cost of fraud at scale, but also:

• Analyze fraud risk on an individual card basis; 
• Make more informed decisions about risk and reissue strategies;
• Pinpoint small and localized data breaches; and
• Reduce fraud losses by up to 50%.

“Debit and credit card fraud is a threat that never stops evolving, and FIs cannot rely solely on payment networks for compromise alerts as it leads to costly delays and cardholder friction,” said Jennifer Fout, VP of Product and Customer Solutions, Rippleshot. “Rippleshot is advancing the industry by enabling FIs to more intelligently identify and react to fraud. Our team is honored to be recognized by Finovate for our commitment to helping FIs fight fraud more efficiently.”

The full list of finalists can be found here, and winners will be announced at the 2022 Finovate Awards ceremony on Sept. 13. For more info, visit www.finovate.com. 

About Rippleshot 

Rippleshot helps financial institutions become strategically resilient to fraud through AI/ML and data-based decision rules to predict risk, pinpoint threats and reduce card fraud losses. Leveraging a data consortium of 4,500+ FIs, Rippleshot’s fraud detection and prevention solutions position banks and credit unions to proactively transform fraud operations. For more information, visit www.rippleshot.com.

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