Nethone once again makes the CyberTech100 List

    Nethone has been recognised as one of the world’s most innovative CyberTech companies for financial services in 2023.

    Magdalena Kowalska

    Head of Marketing
    Table of Contents
    About the CyberTech100 list Nethone is a key player in the global fight against cybercriminals
    Vector

    19 May 2023

     Group

    2 min read
    Table of Contents
    About the CyberTech100 list Nethone is a key player in the global fight against cybercriminals
    Nethone has made it onto the CyberTech100 list of innovative companies that work with financial institutions to improve their cyber defences. It is the second time it has appeared on the list since its inception four years ago.

    About the CyberTech100 list

    The companies featured on this year's CyberTech100 list include some of the most diverse businesses in the sector. Over 1,000 companies were shortlisted by the award organisers, FinTech Global, with a panel of analysts and industry experts choosing the final 100. The companies selected were chosen for their innovation to solve significant industry problems, leading to efficiency improvements, cost savings and enhanced security.

    Nethone is a key player in the global fight against cybercriminals

    Nethone was included in the top 100 for its award-winning approach to dealing with fraud using AI-powered solutions. By using its proprietary Know Your User™ (KYU) profiling solution, companies are able to better understand every single end-user of their service, while effectively weeding out fraudsters.

    With machine learning model rules and behavioral biometrics incorporated into a service flow, it is possible to automatically analyse 5,000+ data attributes in real-time, easing the process of implementing frictionless authentication of users throughout the entire user lifecycle - from registration, and use of service, to making payments, and even in post-transaction disputes. Positive behaviors are rewarded with an enhanced UX, while suspicious user behaviors that indicate a high probability of fraud are stopped from causing your business any damage.

    The need for innovation is necessary now more than ever as cyber threats are becoming more advanced, contributing to an increase in global fraud rates. Fortunately, the cyber tech necessary to combat these threats is also greatly improving - the cyber tech sector is predicted to grow at a CAGR of 13.8% from $172.3bn to $424.9bn in the period 2023-30.

    “As challenges such as ransomware, phishing and data breaches still plague financial institutions, there has never been a more important time for businesses to use CyberTech solutions,” said FinTech Global director Richard Sachar.

    “With the average cost of data breaches being in the millions, it is critical firms look for the solutions that can guarantee their protection, particularly as the tough economic climate puts pressure on finances. This year’s CyberTech100 list arms companies with the necessary information to find the industry change-makers who are providing companies with the opportunity to be well protected against these threats.”

    For more detailed information, visit the CybertTech100 site to see the impressive full list of companies to make the final 100.

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