The availability and affordability of smartphones and high-speed internet are largely responsible for giving unprecedented numbers of customers access to new marketplaces leading to greater opportunities for e-commerce businesses of all sizes. According to a Forrester Report Asia Pacific is the largest region for online retail sales, containing both the largest market (China) and the fastest-growing market (India). Projections are that one-fourth of total retail sales will take place online by 2022 in Asia Pacific and 80% of online retail sales will come from mobile devices. With the rapid growth in e-commerce, new sophisticated online merchant-based fraud schemes are developing at a rate that makes them increasingly difficult to detect putting financial institutions and payment facilitators at risk.
As the global popularity of online payment systems continues to grow, acquirers and payment processors face significant challenges in relation to understanding the true origin of transactions processed through their systems. They are burdened with huge data overloads, attributed to both the rapid introduction of micro-merchants and the market’s demand for instant merchant sign up. The inability to effectively examine volumes of data to detect illicit activity creates serious business risk. EverCompliant is the one-stop platform of smart services that detects and prevents Merchant-based Fraud.
EverCompliant is the global standard in cyber intelligence and risk prevention that illuminates data from all corners of the internet to empower data-driven decision-making. It uses artificial intelligence and machine learning to assess and categorize hundreds of millions of domains. The tremendous power of mining the insights enables the financial and payments industry to detect and prevent transaction laundering and merchant risk.
The Idealistic Leader, Turning Dream into Reality
Ron Teicher is the CEO and Founder of EverCompliant. He has served as the CEO of the firm since its inception. As a kid in high school, Ron always aspired to become an entrepreneur, build his own company, and leave a mark on the world. He completed his B.A. in Business and IT, and an L.L.B. from IDC, Herzlia. Before entering the cyber intelligence industry, he served in the IDF, Israel’s military force. After completing his military service, he wanted to invest his time in the long dreamed goal of starting his own company. Ron believes he was fortunate enough to find co-founders Raz Abramov, VP R&D and Noam Rabinovich, CTO who helped him turn his dream into reality.
EverCompliant has had year-to-year industry-leading growth since its inception. The CEO considers the employees of the company as its #1 asset and ensures they have the right tools to fulfill their potential and drive the company forward. At EverCompliant, the firm is committed to building a diverse team rich in culture, technical expertise and experience enabling the corporation to better address the needs of the customer.
Exceptional Services Setting EverCompliant Apart from Others
Transaction laundering is money laundering for the digital age and is a real threat to the modern payment industry as fraudsters are taking full advantage of payment networks by funnelling transactions through the legitimate e-merchant accounts. Therefore, use of advanced technologies to identify and analyze online malicious activity must be implemented.
The company’s chief solution MerchantViewTM is a pure SaaS solution—easy to use and seamless to implement. It has proven to be the best solution available to detect and prevent transaction laundering. Using advanced, cyber intelligence techniques, MerchantView provides a 360o view into a clients’ merchant portfolio to minimize risk with no additional operational overhead. EverCompliant also provides unparalleled visibility into the largest source of data in the world—the internet—to inform risk assessment, guide to go-to market strategies, and uncover new opportunities. It gives payment processors, acquiring banks and payment facilitators the flexibility to tailor it’s merchant risk profiles to prevent bad actors from infiltrating it’s system and ensure only legitimate transactions get processed. This enables organizations to expedite low-risk activity, cast a spotlight on the most critical risks, and maximize human capital by automating some of the most time consuming aspects of conducting digital business.
Organizational Strategy Benefiting the Expansion and Growth
Large-scale financial institutions and payments service providers in Asia, Europe, the U.S., and the Middle East have adopted EverCompliant’s proprietary technology. To maintain its competitive edge, the company focuses and understands the risks that the digital era poses to financial institutions and payment service providers and provides unique solutions to bridge current gaps and weaknesses in the online financial market. These solutions have ensured continued growth since the company’s inception. Some of the expansion highlights
Include:
- Expansion in Shanghai to take advantage of the exponential growth in the APAC region regarding e-commerce
- Implementing advanced technologies including AI and Machine Learning into its core technology MerchantViewTM to stay ahead of the competition and meet clients’ needs
- Developed new product eKYC Discovery the only solution for supplementing existing legacy offline KYC data, with current, global online data of organizations of any size
To Go the Extra Mile
EverCompliant’s vision is to be the leading online data source for all business information. It’s technology is continuously improving and provides more and more visibility into the businesses’ different activities in the online space. The company aims to leverage it’s technology in order to expand into more sectors and geographies.
