EverC is proud to announce that our platform has been featured in a new S&P Global Market Intelligence Report authored by fintech research analyst McKayla Wooldridge. S&P Global Market Intelligence provides multi-asset class data, analytics, and research to help clients such as investors, financial institutions, and businesses make strategic decisions about investment opportunities.
The report provides an overview of EverC, our AI-powered solutions, strategy, market traction, and forecast for growth. The S&P profile reinforces our credibility and standing as a global leader in risk management technology for payment providers, acquiring banks, and online marketplaces.
AI: A valuable tool for fraud prevention
In the report introduction, S&P research states that AI is gaining ground in fraud prevention, with 70% of merchants viewing it as an effective tool in the fight against online fraud.
EverC solutions are designed to detect fraud at scale, enabling EverC customers – which include global payment processors like Payoneer, Fortis, Zota, and FastSpring, as highlighted in the report – to confidently focus on growth.
AI technology provides the speed and agility required to detect and stop suspicious activity in the global ecommerce landscape, which is fraught with bad actors who are adept at using technology to wreak havoc across the ecosystem. EverC solutions also leverage robust data sets to expose hard-to-detect connections between questionable and legitimate merchants and websites.
“Identifying and combating fraud requires a holistic approach that looks at more than just transactions. To address this, EverC has developed a risk detection and monitoring platform for the online seller ecosystem to spot dubious business activity, counterfeit products and bad actors,” according to Wooldridge.
This capability distinguishes EverC solutions in the market, because they can identify illicit activity that may escape detection if a provider is using technology that relies solely on information from transactions.
A strong growth outlook for EverC
EverC customers include large payment processors, marketplaces, and acquiring banks all over the world. Our largest market is North America, but there are strong growth indications in Europe, Latin America, and Asia-Pacific. S&P views areas with strict business regulations like the U.K. as prime opportunities for EverC to expand and gain market share.
Wooldridge asserted, “Marketplaces are a key strategic focus...because merchants tend to operate across multiple marketplaces, and identifying risky merchants and products can benefit the entire network. They also give EverC broad reach into numerous merchants and products.”
While marketplaces and payment providers are our primary focus, Wooldridge the potential for the company to leverage technology to expand into other areas.
EverC solutions deliver a holistic approach to risk
The S&P report features EverC solutions including MerchantView, MarketView, and Risk Insight Services.
Rather than just monitoring transactions, MerchantView takes a holistic approach by performing a risk assessment based on an array of data points. For example, the solution evaluates merchant category codes for discrepancies, closely monitors merchants operating in high-risk categories, and uses data, risk profiles, and other information to flag suspicious activity throughout the entire merchant life cycle.
Wooldridge also observes the capability of MarketView “to rapidly scan over 30 million items per day,” leveraging AI and machine learning to help the world’s largest marketplaces eliminate hazardous, counterfeit, and illicit products from merchant portfolios.
Report validates EverC as a key player in the market
“The S&P Global profile is strong proof that EverC continues to gain momentum and make our mark in the industry,” said Ishai Froind, EverC Chief Product Officer, who was interviewed for the piece. “We appreciate the opportunity to be featured by such a well-respected publication.”
Innovating to solve the problems our customers face is central to the EverC mission, according to Froind: “We have made it a priority to break new ground and provide effective solutions to previously unsolved industry challenges. Harnessing the power of GenAI, we accelerate our innovation to anticipate and meet our customers’ needs as they navigate new and emerging risks and typologies.”
The coming year will see even more expansion into Gen-AI deployment, with solutions that maximize technology for safe, scalable growth in the world of digital commerce.
S&P Global subscribers can read the full report here.
