CashShield is online enterprise risk management company that helps companies manage their payment fraud risks and prevent hostile account takeovers. Initially founded as CashRun by Justin Lie, the company was later repositioned as CashShield in 2016.
Video CashShield
History
CashShield was founded in 2008 by Justin Lie as CashRun, before a 2016 rebranding. After experiencing credit card fraud on his own website, Justin developed a prototype fraud management system centred around automation and optimisation in order to verify incoming transactions. CashShield engaged in a period of deep research and refinement, working with gaming marketplaces in Europe before soft-launching their first product at CeBit 2011 in Germany.
Following the 2011 soft-launch, CashShield engaged in further beta-testing with European telecommunication companies before entering the go-to-market stage in 2014. CashShield gained prominence in the regional fintech scene when it emerged as one of the 5 finalists in the 2014 Singapore Emerging Enterprise Award for the Most Promising Emerging Enterprise. In 2016, CashShield won the coveted Singapore's Most Innovative Product award at the Singapore National Infocomm Awards by the Singapore Infocomm Media Development Authority. It also came in first for the Top Founder (Local) award at the 2016 Singapore Fintech Festival by the Monetary Authority of Singapore (MAS) and Association of Banks in Singapore (ABS).
Justin Lie was joined by co-founders Irene Brime in 2010, and Jun Xian Lee in 2016.
Maps CashShield
Technology
Powered by high-frequency trading algorithms combined with real-time pattern recognition and passive behavioural biometrics, CashShield's solution functions without the need for any data scientists or fraud analysts. The company has screened transactions in over 190 countries, securing billions in gross merchandise value for leading enterprises globally. CashShield is headquartered in Singapore with global operations in the US, Europe, China and Southeast Asia.
In 2008, CashShield became the first fraud management solution to offer a 100% chargeback protection guarantee to merchants. It is PCI-DSS compliant.
To date, CashShield has integrated merchants across various fields, working with companies in the e-Commerce, Online ticketing, Travel, Digital goods, Gaming and Luxury industries. It operates in over 190 countries, and has engaged in over 244,000 hours of continuous fraud screening, maintaining a 100% merchant retention rate.
Awards and recognition
2014
- Singapore Emerging Enterprise Awards 2014- Most Promising Emerging Enterprise (Top 5)
2015
- MEA Innovation 4 Impact Awards 2015- Top 5 Innovative Impact Solutions
2016
- Singapore National Infocomm Awards 2016- Singapore's Most Innovative Product
- Asia-Pacific MAS Fintech Festival Awards 2016- Top Local (Founder) Fintech Solution
- ASEAN Young Professionals Top 30 ASEAN Fintech Awards 2016- Top Fintech Solution (joint winner)
- Millennial 2020- Panel Speaker (Justin Lie)
- Global Payment Summit 2016- Panel Speaker (Justin Lie)
References
Source of article : Wikipedia
0 Comments