Oscilar Launches Revolutionary Device and Behavioral Intelligence Solution to Combat AI-Powered Fraud

Rhea-AI Summary

Oscilar has launched its Cognitive Identity Intelligence Platform to combat AI-powered fraud, which is projected to cause $40 billion in losses by 2027. The platform analyzes thousands of digital markers to create unique cognitive signatures that are reportedly impossible to replicate, even with advanced AI tools. Led by former Confluent co-founder Neha Narkhede, the solution features advanced polymorphic code, dynamic execution paths, and real-time processing capable of handling over 100,000 transactions per second. The platform is already being utilized by several financial institutions, including Happy Money and Curve, demonstrating improvements in fraud prevention while maintaining user experience.

Positive

• Platform can process over 100,000 transactions per second, demonstrating robust scalability
• Already adopted by multiple financial institutions including Happy Money and Curve
• Addresses growing market need with AI fraud losses projected to reach $40B by 2027
• Technology leverages thousands of digital markers for enhanced security

Negative

• New product in highly competitive market with established players
• Success depends on staying ahead of rapidly evolving AI-powered fraud techniques

Insights

Tech Security Analyst

This product launch represents a significant advancement in fraud prevention technology, particularly noteworthy given Neha Narkhede's track record with Apache Kafka and Confluent. The platform's ability to process 100,000 transactions per second while analyzing thousands of signals demonstrates enterprise-grade scalability. The projected fraud market of $40 billion by 2027 presents a substantial opportunity.

The technology's polymorphic code and dynamic execution paths are particularly innovative, addressing a critical weakness in traditional fraud prevention systems. Early adoption by financial institutions and the ability to detect synthetic identities without adding friction suggests strong product-market fit. The platform's real-time AI adaptation capabilities position it well against emerging AI-powered threats.

Market Research Analyst

The fraud prevention market shows significant growth potential, with AI-enabled fraud projected to grow at a 32% CAGR from $12.3 billion in 2023 to $40 billion by 2027. Oscilar's entry is well-timed and the leadership team's background, particularly Narkhede's success with Confluent, adds credibility. Initial customer adoption by Happy Money and Curve validates market demand.

The solution's enterprise-ready features and integration capabilities suggest potential for rapid market penetration, particularly in the financial services sector where fraud prevention is mission-critical. The platform's ability to maintain performance during peak loads addresses a key enterprise requirement.

New offering intended to protect against projected $40 billion in AI-powered fraud by 2027.

PALO ALTO, Calif., Nov. 14, 2024 /PRNewswire/ -- Oscilar, the AI Risk Decisioning™ pioneer, today unveiled its groundbreaking Cognitive Identity Intelligence Platform to combat the rising tide of AI-powered fraud. The platform's proprietary "Digital & Behavior Identification" technology fundamentally transforms digital identity verification in an era where traditional solutions are increasingly vulnerable to sophisticated AI-enabled attacks.

At its current growth rate, Deloitte's Center for Financial Services predicts that generative AI could enable fraud losses to reach $40 billion in the United States by 2027, from $12.3 billion in 2023, a compound annual growth rate of 32%. Traditional device fingerprinting and behavioral biometrics technologies face unprecedented challenges from democratized fraud tools and AI-powered attacks.

Led by CEO Neha Narkhede–who previously co-created Apache Kafka and founded Confluent (NASDAQ: CFLT), growing it into a $10B real-time data streaming platform leveraged by more than 80% of the Fortune 500–Oscilar's new solution analyzes thousands of unique signals to create secure "cognitive signatures" that make it virtually impossible for fraudsters to mimic legitimate users.

"Traditional device intelligence and behavioral biometrics haven't kept pace with fraudsters' increasingly sophisticated techniques," said Narkhede. "We've assembled an AI-first team of top risk and Machine Learning engineers to develop technology that fundamentally changes how organizations approach digital identity, behavior and intent analysis in the AI era."

Oscilar's Digital & Behavior Identification revolutionary approach analyzes thousands of digital markers across network, device, and behavioral layers to create cognitive signatures that are impossible to replicate – even with advanced AI tools. Unlike traditional solutions that expose their detection logic, Oscilar's security-first architecture employs advanced polymorphic code and dynamic execution paths, ensuring no two sessions look alike and making it virtually impossible for automated tools to learn our patterns. This complex signal network is processed in real-time through Oscilar's distributed architecture, enabling ML models to instantly adapt to new fraud patterns while maintaining consistent protection even during peak loads of over 100,000 transactions per second.

The solution was developed under the leadership of Chief Product Officer Saurabh Bajaj, who brings extensive experience building and scaling fraud prevention technologies that protect Fortune 500 companies, 8 of the top US banks, government agencies, telecommunications providers, healthcare organizations, and various fintechs and financial institutions.

"We've combined deep cybersecurity principles with fraud prevention expertise to create something entirely new and groundbreaking," said Bajaj. "Our security-first architecture makes it practically impossible for fraudsters to reverse engineer or circumvent our technology, while simultaneously reducing friction for legitimate users."

The platform introduces several industry-first innovations:

• Advanced Cognitive Signature Technology: Creates unique digital fingerprints and cognitive signatures to identify users across different devices and user journeys, making synthetic identity creation virtually impossible
• Security-First Architecture: Prevents sophisticated reverse engineering attempts through military-grade protection that keeps detection methods hidden from fraudsters
• End-to-End Journey Protection: Continuous authentication across all user touchpoints with real-time risk assessment and adaptation
• Real-Time AI Intelligence: Leverages generative AI to continuously adapt ML models and risk strategies, staying ahead of emerging threats
• Seamless Enterprise Integration: Native compatibility with existing risk systems and Oscilar's Decision Engine, Case Management, and AI-Analytics suite, enabling rapid deployment and immediate value

The solution is already being used by over a dozen major financial institutions, including Happy Money and Curve, demonstrating significant improvements in fraud prevention while enhancing legitimate user experiences.

"At Happy Money, protecting our business from fraud while maintaining a simple, transparent experience for our more than 300,000 members is essential to our mission of empowering people to achieve their goals through responsible lending. Oscilar's Cognitive Identity Intelligence Platform helps us achieve this balance," said Angela Kernell, Manager, Fraud Operations at Happy Money. "Their advanced security-aware SDK passively monitors thousands of cognitive signatures to detect suspicious patterns during loan applications and account management, without adding unnecessary friction. By catching sophisticated synthetic identities and fraud attempts without impacting legitimate applicants, Oscilar helps us maintain trust and safeguard the capital we lend to support stronger, financially healthy futures."

Learn more about Oscilar's Cognitive Identity Intelligence Platform by visiting https://oscilar.com/blog/cognitive-identity-intelligence-platform.

About Oscilar
Based in Palo Alto, California, Oscilar is the leading provider of AI Risk Decisioning solutions, empowering financial institutions to manage fraud, credit, and compliance risks effectively. At the heart of Oscilar's offerings is a no-code, AI Risk Decisioning™ platform that analyzes vast amounts of data in real-time, identifying patterns and anomalies to detect fraud, optimize credit assessments, and ensure regulatory compliance. Developed by the team behind industry-leading risk management platforms at companies like Google, Facebook, Uber, Citi and JPMC, Oscilar's solution enhances decision-making speed and accuracy, ensuring high security and regulatory compliance. Oscilar serves a broad array of organizations, including fintechs, banks, credit unions, and financial institutions, helping them navigate complex risk landscapes with confidence and stay ahead in the rapidly evolving financial services ecosystem.

Contact: press@oscilar.com 

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SOURCE Oscilar

FAQ

What is Oscilar's new Cognitive Identity Intelligence Platform?

Oscilar's Cognitive Identity Intelligence Platform is a security solution that uses Digital & Behavior Identification technology to analyze thousands of digital markers across network, device, and behavioral layers to create unique cognitive signatures for fraud prevention.

How many transactions per second can Oscilar's platform process?

Oscilar's platform can process over 100,000 transactions per second while maintaining consistent protection during peak loads.

Which companies are already using Oscilar's new platform?

The platform is being used by several financial institutions, including Happy Money and Curve, who have reported significant improvements in fraud prevention.

What is the projected AI-powered fraud loss by 2027?

According to Deloitte's Center for Financial Services, AI-powered fraud losses are projected to reach $40 billion in the United States by 2027, growing from $12.3 billion in 2023.