DataVisor, the leading fraud detection company with solutions powered by transformational AI technology, today announced that it has closed its current fiscal year in the midst of accelerated growth and momentum. Ramping up to meet the rising demand for AI-powered fraud and risk solutions, the company has added seasoned leaders to the C-suite and new hires across Engineering and Product Development. With a strong leadership team in place and added expertise to support product innovation, DataVisor is poised to capitalize on its continued growth in the banking, financial and traditional sectors, which is doubling YoY.
“In the spirit of that long-standing expression of our company culture, I’m happy to be building up our executive team and our C-suite with proven leaders from within our organization, to prepare for rapid growth and market expansion in the coming months.”
“Demand for fraud and risk management continues to be strong, as digital channels go through the next wave of growth,” said Yinglian Xie, Co-founder and CEO of DataVisor. “As companies expand their offerings to incorporate digital technologies and channels, the need to protect good customers becomes increasingly critical.”
To prepare for the next wave of rapid growth, DataVisor strengthened the team in the past year by adding more seasoned leadership members as well as experienced domain experts in the FSI area. Additionally, DataVisor strengthened its C-suite with the promotion of former VP of Marketing, Priya Rajan to Chief Marketing Officer.
“At DataVisor, we are strong believers in growing leaders internally, and many of our technical experts have been with the company since its inception,” said Xie. “In the spirit of that long-standing expression of our company culture, I’m happy to be building up our executive team and our C-suite with proven leaders from within our organization, to prepare for rapid growth and market expansion in the coming months.”
Expanded Footprint in Financial Services, eCommerce Sectors
DataVisor has been leading the fraud prevention space among large enterprises with strong digital presences – helping customers such as Pinterest and Air Asia to protect against the fast-evolving and growing threat landscape. It has also been rapidly expanding its services to banks and payment industries as its financial customers continue to increase their digital presence and footprints to accommodate growing customer adoption, “Demand is particularly intense in the Financial Services sector, as financial institutions struggle to re-tool and adopt advanced technologies that can analyze and leverage structured and unstructured digital data, while providing the scalability and real-time detection that only AI-driven solutions like DataVisor can deliver,” Xie said.
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Despite the impact of COVID on the economy, DataVisor’s revenue from its financial services customers has doubled over the past year, and the company continues to add leading banks to its customer portfolio. Growth is strong among banking customers – DataVisor now counts NASA Federal Credit Union as one of its newest of several new customers – as well as leading fintechs and payment networks.
Recent Product Innovations Aimed at Stopping Fast-Evolving Modern Fraud
DataVisor continues to lead the charge in bringing innovative solutions to market that leverage bleeding-edge applications of AI and machine learning for fraud prevention. “I am truly excited about the range and pace of product innovation in the last year,” said Xie. “Covid underscored what we already know: prevention cannot be reactive. The sources of threats are diverse, continuously evolving, and fast-moving, making it difficult for fraud teams to identify threats early and take quick action. To defend against these digital threats, organizations need a comprehensive, robust solution that leverages data and analytics to stop attacks at the gate, while continuously monitoring and protecting transactions throughout the customer account lifecycle.”
To that end, DataVisor strengthened the capabilities of its hyper-scalable, open fraud platform with native device intelligence solution, dEdge, a cloud-native, mobile-first solution that stops fraud emerging from malicious and manipulated devices. Additionally, DataVisor’s new Identity Graph uncovers hidden connections and fraud networks in a high-powered real-time processing engine. “Graphs can handle billions of events with 3-5 years of data – fully distributed and updated in real-time,” said Xie. “By making DataVisor easy to install and deploy easily in a cloud environment, clients gain instant protection against bot attacks and fraud rings.”
In support of its continued product innovation, DataVisor’s strong partnership program continues to gain momentum, as the company welcomes additional value-added resellers, systems integrators, consultancies and technology alliances into its partner ecosystem. Partnerships with market leaders such as Experian, Microsoft, Crowe, Ekata, FAIT and Ovations are expanding DataVisor’s presence and reach across the U.S., Europe, Africa and SouthEast Asia. “Contributions from our partners are having a significant impact on our success and growth, and we expect that to continue.” said Xie.
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Industry Recognition Underscores Continued Growth and Innovation
Throughout the fiscal year, DataVisor has received recognition and accolades for its market-leading fraud and risk platform, beginning with being named a Gartner Cool Vendor in Identity and Access Management and Fraud Detection. Shortly afterward, DataVisor was recognized as a leader in the IDC MarketScape: Worldwide Enterprise Fraud Management in Banking 2020 Vendor Assessment. The company also made the Forbes 50 list and was named a Technology Pioneer by the World Economic Forum.