Arkose Labs, a provider of online fraud prevention technology combining user risk assessment and sophisticated enforcement challenges, today announced it has been named winner of the 2019 MRC Technology Awards in the Start-Up category by the Merchant Risk Council.
The MRC Technology Awards recognize superior solution providers making substantial contributions in the fraud, payments and risk industries. Arkose Labs helps solve some of the world’s most targeted businesses’ online fraud problems – which cost millions each year in financial losses – with its innovative global telemetry, user behavioral risk assessment and proprietary enforcement challenges. As companies across the information security industry experience more fraudulent user activity, a new solution to eliminate the problem at the source is necessary.
Arkose Labs’ technology exclusively stops abuse before it occurs without impacting user experience or conversation rates, and Arkose Labs is the only solution provider to offer an Attack Remediation service-level agreement. With the prevalence of more sophisticated automated attacks, adoption of Arkose Labs’ technology is accelerating across sectors including online marketplaces, travel, banking, social media and online gaming.
“The ability to stop abusive attacks at the point of entry, without disrupting the user experience, is now a must-have for companies,” said Kevin Gosschalk, CEO of Arkose Labs. “We focus on breaking the economics of fraudsters. If you can make it cost more to gain entry than they can extract, they move on. Our technology is rooted in prevention, which allows us to combat the automation feeding the scale of online fraud impacting companies today. We’re proud to be recognized by the MRC as a company leading the way in helping digital businesses protect their ecosystem from automated fraud.”
The announcement was made at MRC Vegas 2019 in Las Vegas on March 20, 2019, and follows the 2018 win by industry heavyweight ThreatMetrix, a LexisNexis Risk Solutions Company. During MRC Vegas, Gosschalk presented the session, Printing Money: Virtual Marketplaces as Real-World ATMs, which explored practical scenarios where virtual marketplaces can be exploited like cash by attackers, as well as the pathways toward preventing automated gift card abuse.
“The MRC Technology Awards recognize the most esteemed achievements in eCommerce, honoring organizations surpassing industry standards and providing a benchmark for excellence,” said Markus Bergthaler, MRC Director of Programs and Marketing. “Arkose Labs is deserving of this award as they offer an innovative solution using global telemetry paired with enforcement challenges to validate suspicious traffic while ensuring legitimate users are not challenged. The independent panel of merchant judges who evaluated Arkose Labs’ technology noted its versatility in helping companies prevent account takeovers, card testing, fake user accounts, inventory denials, spam, auction abuse, ticket scalping and fake ratings.”
Read the full press release from BusinessWire here.