Ravelin doubles key accounts as clients eager for AI-native fraud prevention

London, UK – 8th May 2024

Ravelin, a leading AI-native enterprise fraud prevention platform, announced today that it has doubled its key account base in 2023, propelled by the rapid adoption of its cutting-edge fraud prevention solutions across new industries and geographies.

With an established clientele including industry giants such as Deliveroo, Just Eat, Trainline, and Frasers Group, Ravelin has further expanded its global footprint by introducing new, sector-agnostic modules targeting Account Takeover, Returns & Refunds Fraud, Marketplace Payout Fraud, and Promotion & Voucher Fraud.

Retail and traditional merchants have been long-term fraud service users, but enthusiasm for a new approach to fraud detection has meant that throughout 2023 and into 2024, Ravelin has onboarded new clients across a diverse array of sectors, including fintech, digital marketplaces, entertainment, gaming, transport, F&B, MedTech, IT services, and consulting, spanning global markets.

Among the notable additions to its client roster:

• Mastercard (Ekata and Ethoca): Renewing its partnership with Mastercard, Ravelin seamlessly integrates Ekata's Transaction Risk API for its user identification and risk scoring capabilities. And with Ethoca Alerts, Ravelin aids merchants in mitigating chargebacks, demonstrating its ability to address the evolving needs of Mastercard's global customer base.

• Elavon: Ravelin has entered into a multi-year strategic partnership with payment processor Elavon, effectively acting as the analytical layer within Elavon’s 3D Secure authentication solution. Ravelin's market-leading fraud detection platform will not only be extended to Elavon's Enterprise merchants but also to its vast SME merchant base.

• Glovo: Ravelin has extended its collaboration with Glovo, a renowned on-demand delivery platform. Ravelin's advanced fraud prevention solutions, including real-time risk assessment and PSP-agnostic 3D Secure implementation, have enabled Glovo to enhance security while ensuring a seamless user experience. As a result, Glovo has reduced fraudulent transactions, resulting in a double-digit conversion rate uplift.

• London North Eastern Railway (LNER): Partnering with GlobalPayments, Ravelin now serves as the fraud prevention layer for LNER, one of the UK's largest railway operators, protecting transactions for its extensive customer base. Ravelin was evaluated and approved by the UK Government Department for Transport.

• Kentucky Fried Chicken (KFC): Ravelin protects KFC against account and promotions abuse, using pre-login and post-login account protection measures to minimize the risk of account takeovers and preserve brand reputation. Ravelin's solution has already intercepted a substantial number of suspicious promo code activities, resulting in significant savings for KFC.

• Zooplus: Ravelin powers fraud detection for all transactions on Zooplus, Europe's leading retailer of pet supplies, operating across digital and physical channels.

“Complex businesses have complex problems but for Ravelin, this is our sweet spot. We will always be dedicated to working closely with our clients and partners to build sophisticated products that empower diverse and complex businesses like Spotify and LNER to conduct millions of profitable transactions securely,” said Martin Sweeney, CEO at Ravelin.

About Ravelin

Ravelin is a leading AI-native enterprise fraud prevention platform, trusted by global brands to protect against the myriad threats posed by fraudsters. With a proven track record of delivering tangible results and unmatched expertise in fraud detection and prevention, Ravelin is committed to helping businesses thrive in an increasingly complex digital landscape.