Rippleshot Selected as Finalist in BBVA Open Talent 2015 Competition & ITA CityLIGHTS Awards
Nominations recognize most disruptive and innovative companies in FinTech and Chicago
August 10, 2015, Chicago, IL – Leading fraud analytics company, Rippleshot, today announced that it has been selected as a finalist in the seventh annual BBVA Open Talent 2015 USA competition. This competition looks for the companies that have the greatest potential to transform the financial services industry. The top 20 finalists selected represent the most innovative entrepreneurs and start-up companies across the financial services and technology space.
Rippleshot is transforming the way that banks and credit unions 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 data breach occurred. Following detection, Rippleshot provides banks with the tools they need to update fraud detection rules in order to lower their fraud losses while avoiding unnecessary card re-issuance.
“We are thrilled to be recognized by BBVA as a top company in the FinTech space,” said Canh Tran, CEO and Co-Founder of Rippleshot. “Cybersecurity and fraud are two of the most important issues today and we have made it our mission to not only change the way the financial industry detects fraud, but also help banks use this fraud insight to ensure limited customer disruption. The BBVA Open Talent Competition has an impressive track record of helping start-ups grow and we are pleased to be selected as a finalist alongside other innovative FinTech companies.”
The BBVA contest is an international competition designed to help foster innovation in the financial ecosystem. In addition to the U.S., twenty finalists were chosen in LatAM and Europe. Finalists will present to a panel of reputable judges on September 15th where two winners will be chosen from each region. More information about the event can be found on the BBVA innovation website.
In addition to being selected by BBVA, Rippleshot was also named a finalist for the 2015 ITA CityLIGHTS Trailblazing Award, which recognizes companies that have developed an innovative way of doing business or creating culture that has produced significant value and growth for the company. The winner will be announced on September 17th at a ceremony in Chicago, Illinois.
Rippleshot's fraud analytics allows card issuers, processors and merchants to proactively monitor suspicious activities and implement smarter fraud risk management strategies when data breaches occur. Rippleshot detects the ripples before the tsunami, the tiny anomalies that signal a looming data breach - and let you know earlier, so you can play a pivotal role in reducing fraud loss, improving cardholder security and reducing the severity of breaches.