Rippleshot: Machine Learning Firm Using Analytics To Detect Data Breaches

It's almost that time of year.

The 2017 Benzinga Global Fintech Awards is a competition to showcase the companies with the most impressive technology that are paving the future in financial services and capital markets.

To get you prepared for this year's awards, Benzinga will profile each fintech company that has applied. Want to get involved? Submit your company here.

For this installment, we spoke with Rippleshot founder Cahn Tran (answers have been edited for length and clarity).

Rippleshot

Rippleshot is a fraud analytics firm that uses data analytics and machine learning to detect data breaches. The Company is transforming the way that issuers, merchants and processors detect fraud through a cloud-based technology solution that leverages machine learning and data analytics to distinguish fraudulent activity more quickly and efficiently.

Rippleshot's award-winning technology processes millions of payment card transactions in real-time to proactively pinpoint when and where a breach of card data occurred. Following detection, Rippleshot then identifies which cards are most at risk of seeing fraudulent activity, and suggests appropriate mitigation strategies to best prevent fraud loss.

We serve banks, financial institutions and merchants.

We were founded in 2012.

Related Link: Startup That Hopes To Change How Banks Detect Fraud Just Received A New Round Of Funding

We are based in Chicago, Illinois.

I have over 25 years of experience focused on big data and predictive analytics. Throughout my career, I have worked with large-scale data such as retail point of sale, payment transactions, credit, social and search information to solve sales, marketing, fraud and credit problems.

Rippleshot recently just announced a new round of funding for $2.6 million, which will be used to support the Company's continued growth in the credit union and banking market, as well as an expansion into the merchant fraud detection space. With this expansion, the company will look to bridge the fraud gap for both merchants and banks in order to make payments more secure for everyone across the board.

Last year the company was formally endorsed by leading banking association, the American Bankers Association. They were also named to KPMG and H2 Ventures FinTech 100 ranking as one of the top 50 emerging stars.

If you’re looking for cool fintech startups and access to top financial institutions, and are sick of attending stuffy corporate conferences, the Benzinga Global Fintech Awards is the event for you. From its first year in 2015, the competition grew to over 250 applicants and over 500 attendees in 2016.

Connect with us on social media — use the hashtag #BZAwards and #Fintech to spread the word!