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Significant Milestones for NuData Security - further commitment to providing top fraud detection PDF Print E-mail
Thursday, 10 September 2015
NuData Security announced today that it has achieved numerous organisational and solution-based milestones, furthering the company’s commitment to protecting organisations and individuals from the perils of online fraud.

NuData Security’s online fraud detection solution, NuDetect, has been key in enhancing the company’s growth cycle. The product combines continual analysis and behavioural biometrics with machine learning to determine good user behaviour from fraudulent behaviour, allowing the company to detect and predict fraud up to 15 days before an incident occurs. More information about NuDetect is available at http://nudatasecurity/com/nudetect.

Highlights from NuData Security’s growth from H1 2014 to H1 2015 include:

     •     Revenue has increased nearly 700 percent. Additional growth highlights include:

          º     62 percent increase in employee base
          º     47 percent office space growth
          º     105 percent growth in R&D expenditures

     •     NuData Security’s online fraud detection solution, NuDetect, is currently in use with four of the top 10 ecommerce companies.

     •     In 2014, the company’s intelligence network analysed 18 billion behavioural events and transactions; researchers are on track to a total of 38 billion in 2015 – an increase of more than 110 percent.
     •     Geographic expansion with European operations added in the U.K.

Recent accolades:

     •     Finalist, Ernst and Young Entrepreneur of the Year, 2015
     •     Inclusion in five Gartner Fraud Detection and Identity Hype Cycle Reports
     •     Winner, Excellence in Predicting and Preventing Online Fraud, FinTech Excellence Awards, 2015
     •     Gold Winner, Security Products and Solutions for Online and E-commerce, Infosecurity Products Guide Global Excellence Awards, 2015
     •     Bronze Winner, Fraud Prevention, Infosecurity Products Guide Global Excellence Awards, 2015

Michel Giasson, CEO, NuData Security, said:

“The global threat environment is rapidly changing and managing online fraud continues to be a significant and growing cost for businesses of all sizes. At NuData Security, we remain dedicated to delivering a cost effective solution that is able to protect organisations and individuals from fraud, account takeover and global cyber attacks.”

(Source - NuData Security News Release)

 
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