Beauty and self-care marketplace, Fresha, claims to have cut fraud by 99% with the help of its own AI and machine learning technology. The London-based platform allows customers to book and pay for beauty appointments with one of their local salons, spas, and more. Currently, the marketplace hosts over 130,000 partners and tens of millions […]
Beauty and self-care marketplace, Fresha, claims to have cut fraud by 99% with the help of its own AI and machine learning technology.
The London-based platform allows customers to book and pay for beauty appointments with one of their local salons, spas, and more. Currently, the marketplace hosts over 130,000 partners and tens of millions of users across the world.
To reduce fraud, Fresha used AI-driven fraud prevention software to detect vulnerabilities in real time and ensure secure and tightly controlled data.
It also used zero-trust access management and continuous automated compliance monitoring.
Its in-house built AI fraud detection system used predictive analytics to identify suspicious patterns before they cause harm.
Fresha added that as transaction scoring monitors multiple parameters to detect fraudulent activity, automated systems flagged and blocked payment fraud attempts, such as stolen card transactions, before they happened.
It also stated that it secured its messaging infrastructure to combat text and email phishing scams.
As it stands, Fresha is also inviting security researchers and ethical hackers to help further protect its platform.
“As we continue to grow, our responsibility to safeguard businesses and clients grow with us,” said William Zeqiri, founder and CEO of Fresha.
“Fraudsters are becoming increasingly sophisticated, but so are we. With our proprietary AI and machine learning systems, we don’t just react to fraud – we stop it before it even starts.”
Read more about Zero Trust in our interview with CEO of ThreatLocker, Danny Jenkins
