Startup Smyte is Helping Small Businesses with Online Fraud Protection
Alyson Wyers — July 21, 2015 — Business
References: smyte & springwise
This startup is dedicated to offering small businesses online fraud protection. New venture Smyte is trying to offer a solution and enhance security for companies with a two-sided marketplace structure.
As financial activity increasingly turns online, many small businesses are struggling to keep up with the measures bigger corporations can afford to put in place to protect their customers. Smyte wants to stop potential predators on marketplaces and social media sites by addressing spam, fraud and abuse before it occurs. They can make human reviewers more effective too, with their system using real-time analysis, modular feature extraction and machine learning.
Using this platform is as easy as sending data, writing custom rules in JavaScript and exploring the dashboard. The team behind Smyte previously worked on online fraud protection at companies like Instagram, Google and Facebook.
As financial activity increasingly turns online, many small businesses are struggling to keep up with the measures bigger corporations can afford to put in place to protect their customers. Smyte wants to stop potential predators on marketplaces and social media sites by addressing spam, fraud and abuse before it occurs. They can make human reviewers more effective too, with their system using real-time analysis, modular feature extraction and machine learning.
Using this platform is as easy as sending data, writing custom rules in JavaScript and exploring the dashboard. The team behind Smyte previously worked on online fraud protection at companies like Instagram, Google and Facebook.
Trend Themes
1. Online Fraud Protection - Smyte's startup focuses on providing small businesses with online fraud protection to counteract the increasing financial activity online.
2. Enhancing Security for Two-sided Marketplaces - Smyte aims to enhance security for companies that operate with a two-sided marketplace structure by addressing spam, fraud, and abuse at an early stage.
3. Real-time Analysis and Machine Learning - Smyte's platform leverages real-time analysis, modular feature extraction, and machine learning to make human reviewers more effective in detecting and preventing fraudulent activities.
Industry Implications
1. Online Security - The online security industry can benefit from Smyte's innovative fraud prevention platform to protect businesses and customers from online threats.
2. E-commerce Marketplaces - E-commerce marketplaces can leverage Smyte's two-sided marketplace security solutions to enhance trust, tackle fraud, and provide a safer platform for their users.
3. Social Media Platforms - Social media platforms can integrate Smyte's fraud prevention technologies to proactively address spam, fraud, and abuse, ensuring a safer and more trustworthy online environment.
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