Sift Secures 40 Patents, Reinforcing Leadership in Digital Trust & Safety
Company Raises the Bar in Fraud Detection with Innovations Focused on Machine Learning, Workflows Management, and Anomaly Detection
SAN FRANCISCO, Jan. 04, 2024 (GLOBE NEWSWIRE) — Sift, the leader in Digital Trust & Safety, today announced that it has now amassed 40 patents granted or allowed by the United States Patent and Trademark Office (USPTO), with several additions in 2023. These latest innovations underscore Sift’s commitment to developing technologies that protect digital businesses and their users from emerging fraud and abuse tactics.
Sift made considerable investments in its platform across three main areas in 2023: its core machine learning and AI technology to detect fraudulent behaviors and patterns; its popular Workflows capability, which allows fraud and risk teams to automate and manage their own business fraud logic within the Sift console, automate decision-making and continue to stream-line review; and WatchTower, an internal capability which detects anomalies in customer traffic and fraud decision patterns for both expected and unexpected reasons.
Notable patents achieved by Sift in the last year include:
- Automated Workflow Creation for Fraud Prevention: Allows the creation and testing of workflows based on traffic and fraud patterns, and target business metrics.
- Connected Components for Botnet Detection: Identifies coordinated bot attacks by analyzing connections between fraudulent accounts and activities.
- Anomaly Detection in Risk Models: Explains shifts and drifts in customer risk models to identify issues and take corrective actions.
- Real-time Bot Detection and Intelligence: Generates unique signatures for detecting and mitigating bot threats in real-time.
“Sift’s journey from inception in 2011 to now, culminating in 40 patents granted or allowed by the USPTO, is a testament to our commitment to customer-focused innovation,” said Kris Nagel, CEO of Sift. “Since day one, we’ve leveraged data science to empower businesses to fight fraud while enhancing the user experience and growing their business. These patents reflect not only our technological prowess but also the impact we’ve made in fueling growth for our customers. We’re proud of this milestone and will continue pushing boundaries to shape the future of our industry.”
Sift’s full list of patents can be viewed at: https://sift.com/intellectual-property.
About Sift
Sift is the leader in Digital Trust & Safety, empowering digital disruptors to Fortune 500 companies to unlock new revenue without risk. Sift dynamically prevents fraud and abuse through industry-leading technology and expertise, an unrivaled global data network of one trillion (1T) events per year, and a commitment to long-term customer partnerships. Global brands such as DoorDash, Yelp, and Poshmark rely on Sift to gain a competitive advantage in their markets. Visit us at sift.com and follow us on LinkedIn.
Media Contact:
Victor White
Senior Director, Corporate Communications
press@sift.com
