Sift, the AI-driven fraud prevention platform, has unveiled a suite of new features aimed at enhancing identity trust and equipping fraud and risk teams with actionable intelligence for more confident decision-making.
ActivityIQ: Leveraging Generative AI for Enhanced Fraud Detection
One of the standout additions is ActivityIQ, which utilizes generative AI to identify and surface account takeover (ATO) fraud patterns that might otherwise go unnoticed. Building upon the previously announced Activity Analyzer, ActivityIQ enables analysts to review high-risk sessions more efficiently by summarizing risk patterns across multiple accounts simultaneously. This tool significantly reduces the time required for manual reviews, allowing teams to focus on mitigating threats more effectively.
FIBR In-Console: Real-Time Fraud Benchmarking
Sift has also integrated its Fraud Industry Benchmarking Resource (FIBR) directly into the Sift Console. This integration allows customers to compare their key fraud metrics—such as payment fraud attack rates, manual review rates, and chargeback rates—against industry peers without leaving the platform. By providing immediate access to these benchmarks, organizations can make more informed decisions and adjust their fraud strategies in real-time.
Automatic Chargeback Labeling: Enhancing Machine Learning Models
To further refine digital risk strategies, Sift has introduced automatic chargeback labeling. This feature creates a feedback loop for Sift’s payment fraud prevention solution by automatically updating machine learning models with chargeback outcomes. By continuously learning from these outcomes, the system improves its accuracy in detecting and preventing fraudulent transactions.
Additional Enhancements to the Sift Console
Beyond these major updates, Sift has rolled out several enhancements to the Sift Console, including:
- Search Bar Autocomplete: Streamlining the search process within the console.
- Sift Notifications Report: Providing detailed insights into system alerts and notifications.
- RiskWatch Percentile Scoring in Score Threshold Reporting: Offering a more nuanced view of risk scores to better inform decision-making.
These innovations collectively aim to empower organizations to proactively combat fraud while maintaining a seamless customer experience. By integrating advanced AI capabilities and real-time benchmarking tools, Sift continues to position itself as a leader in digital fraud prevention.
