The Ultimate Solution to Digital Fraud? Alex Zeltcer, CEO of nSure.ai explains

Alex is the CEO and co-founder of EnsureAI, a fraud prevention platform for digital goods. He shares his insights on the importance of understanding the details in fintech and the challenges of dealing with funds and fraud prevention.Three things in this episode that we dive into. 1️⃣ The importance of not treating fraud as a cost of doing business 2️⃣ Adopting machine learning models to analyze real-time data for revenue assurance and chargeback guarantees 3️⃣ Why KYC data doesn't prevent payment fraudAlso, watch the entire episode on youtube. Links:nsure.aiWebsite: https://www.nsure.ai/Linkedin: https://www.linkedin.com/company/nsureai/Facebook: https://www.facebook.com/nsureaiInstagram: https://www.instagram.com/nsure.ai/Twitter: https://twitter.com/nsure_aiYoutube: https://www.youtube.com/@nsureai7792Fintech Confidential FOLLOW, LIKE & SUBSCRIBEYouTube: https://youtube.com/@fintechconfidentialPodcast: http://podcast.fintechconfidential.comNewsletter: http://access.fintechconfidential.comLinkedIn: https://www.linkedin.com/company/fintechconfidentialTwitter: https://twitter.com/FTconfidentialInstagram: https://www.instagram.com/fintechconfidentialFacebook: https://www.facebook.com/fintechconfidentialSupport is provided by Solvpath, an A.I.-driven customer support system that uses a visual format and self-serve technology to quickly and effectively resolve issues, resulting in satisfying support experiences for customers. Get the best customer support system for your business. Get Solvpath. Get started by visiting www dot Get Solvpath dot com www.getsolvpath.com Time Stamps:Introduction of Alex [00:01:17]The host introduces Alex, the CEO, and co-founder of EnsureAI, and discusses his background and experience in various executive positions.Alex's journey into fintech [00:02:58]Alex shares his journey into fintech, including his experience with fraud prevention in the digital gift card marketplace and the challenges of dealing with funds and fraud prevention.Importance of understanding details in fintech [00:07:56]Alex shares his insights on the importance of understanding the details of fintech and the challenges of dealing with funds and fraud prevention.Understanding the Details in Fintech [00:09:14]Alex discusses the importance of understanding the details in fintech and leveraging external advisors to bridge the gap.Realizing the Need for a Fraud Platform [00:10:59]Alex shared the moment when he realized that building a fraud platform could be its own business and the decision to start EnsureAI.Opportunities for Digital Goods Retailers [00:15:13]Alex talks about the opportunities for digital goods retailers to optimize their funnel and the potential for digital assets and goods in the virtual world.Identity Verification [00:18:09]Importance of identity verification in fraud prevention and the challenges of multiple identities in the digital world.Behavior Anomalies [00:20:10]The importance of looking at behavior anomalies instead of individual data in fraud prevention and providing a frictionless customer experience.Total Cost of Fraud [00:27:02]The impact of digital fraud on a business's bottom line, including false negatives, declines, and the cost of tools and people to fight fraud.Consumer Confidence [00:28:10]The importance of consumer confidence in a company delivering goods and the impact of declined transactions on customer lifetime value.Revenue Loss [00:28:38]The percentage of revenue businesses lose due to declined legitimate transactions varies by industry and vertical.KYC Fraud [00:35:30]The challenges of using KYC for payment fraud prevention including the lack of universal standards and ways fraudsters bypass KYC protocols to gain access to approved accounts.Don't rely on KYC [00:38:28]Alex explains the importance of not relying solely on KYC data to prevent fraud and how it can be used as a feature but not a rule.Identifying fraudulent patterns [00:39:59]Alex discusses how behavior analytics can be used to identify patterns of fraud, such as an orchestrated attack, and how it requires looking at hundreds of thousands of features in real-time.Advice for fintech founders [00:42:56]Alex gives advice to fintech founders, including being careful when deciding to scale, understanding the market, and not assuming customer acquisition costs will decrease.This is a Production of Diamond D3, Media ABOUT: Alex Zeltcer: Alex Zeltcer, a seasoned executive with a passion for scaling organizations, is the CEO and Co-Founder of nSure.ai, a company that empowers online merchants to sell digital goods with confidence. Zeltcer's leadership style is characterized by his commitment to establishing excellence in culture, building efficient infrastructure and processes, and focusing on achieving the right targets for rapid growth.Before founding nSure.ai, Zeltcer held executive positions in startup companies and large corporates, including serving as the CEO and co-founder of artizone, COO & GM of Zeek, and General Manager of Dassault Systemes Israel. He holds an MBA in Finance and Marketing and an Engineer’s Degree in Electrical and Electronics Engineering from Tel Aviv University.nSure.ai : nSure.ai is a world leader in AI-powered advanced fraud prevention for high-risk digital transactions. We provide a unique multi-tenant platform that empowers our customers with their own AI/Machine learning model. Our platform's ability to collect, aggregate, and analyze behaviors and data in real-time enables nSure.ai to deliver paymentapprovals north of 90%, along with chargeback guarantees that make substantial improvements to our customers' top and bottom lines. nSure.ai currently serves clients across four continents - among them are global leaders in the gift card, gaming, crypto and online travel segments.Tedd Huff: President & Founder of Diamond D3, a professional services consulting firm focused on global payments and marketing. He is also a video podcast host and producer of Fintech Confidential and Head of Corporate Strategy at Corvia. Over the past 24 years, he has contributed to FinTech startups as an Advisory Board Member, Co-Founder, and Chief Experience Officer, providing strategic and tactical direction for Global Payments OpenEdge, Heartland Payments, Nuvei, and TSYS, among others, focusing on growth while delivering innovation, process improvements and user experience-driven value to simplify the complexity of payments.Diamond D3, Media: A media creation, management, and production company delivering engaging content globally