What’s the primary reason that made GrabDefence to participate at WFIS 2024 – Indonesia?
Indonesia predominantly revolves around our mission to shape a more secure digital ecosystem. Recognizing Indonesia as a significant geographical location where many of our valued partners currently operate, our participation signifies our eagerness to align with Indonesian financial institutions. The objective is to facilitate the sharing of cutting-edge technology and comprehensive expertise we have garnered over the years.
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Can you explain how GrabDefence is helping digital payment service providers with Account Takeover (ATO) attacks and fake account registrations?
A key technology that is used to counter ATOs and fake account registrations is the device intelligence and fingerprinting SDK, which GrabDefence specializes in. With the millions of transactions it processes every day, GrabDefence is constantly tuning its SDK and models to best understand behaviors and device signals in the context of South East Asia.
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GrabDefence has partnered with fintech platforms in the past to protect their businesses from fraud and abuse. Can you tell us how the journey has been so far and how much has been achieved?
Since its inception, GrabDefence has embarked on a journey to make fintech platforms safer for businesses, leveraging our deep understanding of local financial criminal operations. Over time, we have gained invaluable experience and insight into ground realities, especially in countries like Indonesia, where fraud syndicates function with an alarming level of sophistication.
Our efforts have been largely focused on providing businesses with robust device intelligence services. These services have allowed us to cut through the noise, isolate bad actors, and identify fraudulent activities rapidly and accurately. All the while, ensuring seamless interactions for legitimate users.
Our cumulative knowledge of fraud patterns and behaviors has proven to be our major strength. This expertise, earned through tackling real-world fraud scenarios, equips us to build sophisticated, state-of-the-art solutions for fintech platforms.
As for achievements, we have been successfully building a safer fintech environment, resulting in significant reductions in fraud incidents for our partners. With each case of fraud prevented, we’re not just saving a business from financial loss, but also strengthening the trust between fintech platforms and their users.
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Can you tell us a bit about your team which has over 200 fraud experts?
The team consists of both engineers as well as fraud and risk researchers. This means that Grab and GrabDefence customers can get access to hyper-local risk insights, a patented and ever-evolving device intelligence SDK and advanced AI/ML models to detect, highlight and visualize risk.
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What according to you is the primary reason that’s pushing mobile businesses like superapps and fintech apps to leverage GrabDefence for protecting their platforms?
Grab uses data and technology to improve everything from transportation to payments and lending across a region of more than 620 million people.
As Grab expanded rapidly over the past few years, it noticed fraudsters finding creative ways to attack the platform for monetary gains. GrabDefence was launched to protect the Grab app while ensuring a frictionless experience for its users. Grab has since launched this as a Software-as-a-Service (SaaS) that protects other digital platforms from fincrime.
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