2022 Spring Product Release: Account security for the passwordless future
By Sift /
29 Mar 2022
Legacy account security tactics—passwords, usernames, and the like—are nearing the end of their reign as the primary way to defend against account takeover (ATO) and automated fraud.
Businesses everywhere are under fire, with finances a critical target: according to Sift’s global network, ATO attacks against just the fintech sector alone soared 850% between Q2 2020 and Q2 2021. Merchants need to protect customer accounts from bot-savvy fraudsters on the hunt for loyalty points, payment details, and personally identifiable information (PII).
Sift’s spring 2022 product release includes refined integrations, new connectors, upgraded workflows, and enhanced features to help online merchants do just that.
Passwordless authentication and new 2FA capabilities deliver an efficient, secure, and user-friendly way to validate login credentials. Our recent acquisition of Keyless will add step-up authentication as an option directly from within Sift Workflows, helping merchants align protection with the customer experience without dragging down growth.
More efficient analysis
New features simplify fraud fighting and dispute management with cutting-edge visualization and machine learning (ML) capabilities. Sift’s enhanced network view helps you identify and eliminate fraud rings, boosts operational productivity, and allows analysts to quickly surface and address fraud rings by focusing on attributes that commonly come up in the review process.
Soon, Sift Dispute Management customers will gain access to a valuable tool for forecasting success rates, as real-time machine learning comes to this critical workflow.
Custom fields are now available for Account Defense users, with 8-digit BIN support for Payment Protection customers. Analysts will be able to add clarity and precision to fraud-fighting operations with custom fields, and trigger different actions based on customer-provided inputs—all of which are usable at any point during a session from login to checkout.
Payment Protection customers can now ensure proper data ingestion with 8-digit BIN support, and rest assured that no data related to the card issuer, geography, or other payment or transaction details are lost or misinterpreted due to an incomplete BIN.
New connectors streamline Digital Trust & Safety operations for automation across fraud vectors, and across departments. Merchants can access real-time chargeback data with Checkout, accessible through a simple API that surfaces dispute details with improved modeling, flagging risk with unparalleled accuracy.
Users can leverage our new Zendesk connector to access Sift data and address customer service inquiries directly from Zendesk, increasing collaboration and helping agents resolve tickets faster. Finally, Sift’s upcoming Paypal connector will allow automated chargeback data ingestion and response creation to streamline and enhance the dispute management process.