Hungary-based online fraud prevention platform SEON has announced the Forever Free version of its online fraud prevention software. The Forever Free version of the software will support up to 2,000 API calls each month at a rate of two queries per second.

Moreover, users will also gain access to email support from SEON’s customer service agents. Prior to this development, SEON was offering businesses a 14-day free trial of its fraud prevention software. With the new system, once a user’s trial period expires, they will automatically be converted to SEON’s Forever Free plan.

Businesses with higher transaction volumes have the option to upgrade to SEON’s Pro plan, which provides more API calls and responses around 10 queries per second. Officials from SEON cited by finovate. com revealed their plans to tackle fraud head on while increasing the number of businesses that they serve.

The same officials highlighted how the company prevents fraud with the use of real-time social signals, phone, email, and IP lookup details complemented by device intelligence and machine learning. Other SEON product upgrades and partnerships in 2022 In May 2022, SEON has announced a new CatBoost blackbox machine learning update that improved its anti-fraud solution for businesses. The new system has been incorporated into the company’s fraud-fighting solution and allows businesses to enhance efficiency and precision for clients who are fighting various types of online fraud.

SEON’s customers can leverage the speed of the blackbox machine learning, alongside the transparency of whitebox machine learning scoring and rules. In June 2022, SEON partnered with Provenir, a provider of artificial intelligence-powered risk decisioning software, in order to help organisations build new fraud prevention solutions. SEON’s system can establish an individual’s digital footprint based on their email address, phone number, IP address, or location in real-time.

This GDPR-compliant approach to analysing a user’s digital footprint helps companies to accept more transactions while stopping fraudulent ones. In the same month, SEON joined with the developer of AI-driven AML software Lucinity to include real-time fraud prevention capabilities in its AML compliance software. Lucinity’s AML solution uses AI to support human insights, thus offering improved efficiency and productivity for compliance risk professionals.

At the same time, Lucinity can integrate SEON’s fraud prevention solution, providing its customers with holistic compliance risk services from transaction monitoring to real-time fraud detection. For more information about SEON, please check out their detailed profile in our dedicated, industry-specific Company Database. .