Barcelona, September 19, 2024 – Frizbit is proud to announce that our innovative fraud detection system, FingerprintML, has been selected as one of only three winning startups to advance to the prestigious DRIVE phase of the EPICENTRE acceleration program. This significant achievement was announced during the EPICENTRE SUSTAIN Gala held at Hub Social Barcelona on September 19th.
The EPICENTRE program, funded by the Single Market Programme (SMP) under the Joint Cluster Initiatives (Euroclusters) for Europe’s recovery from the European Commission, aims to create new cross-sectoral value chains by fostering partnerships between SMEs, clusters, and corporates across sectors including ICT and Fintech.
“Being selected as one of only three winners to advance to the DRIVE phase is both an honor and a validation of our innovative approach to fraud detection,”
Ata Gur, CEO and Co-founder of Frizbit
He also mentioned: “This recognition comes after months of dedicated work developing our FingerprintML solution, which leverages the same fingerprint technology that powers our core marketing automation platform.”
FingerprintML represents an innovative side project that extends the capabilities of our existing web fingerprinting technology. While we currently use this technology to identify and track users for marketing automation purposes, FingerprintML applies these capabilities to a new domain: fraud detection.
By repurposing our expertise in device fingerprinting and combining it with Automated Machine Learning, we’ve created a powerful tool to combat transaction fraud.
During the event, our team presented FingerprintML to a diverse audience including corporates, investors, public authorities, and other key innovation actors in the European ecosystem.
Our presentation highlighted how FingerprintML addresses the critical challenge of fraudulent transactions, which cost businesses and financial institutions an estimated $35 billion annually.
The DRIVE phase represents the final and most exclusive stage of the EPICENTRE program, offering selected startups the opportunity to test their prototypes in real corporate environments.
As part of this phase, Frizbit will receive additional technical support through the EPICENTRE Academy and weekly sessions with matching corporates to achieve market readiness for FingerprintML.
Ilhan Adiyaman, CPO and Co-founder of Frizbit, emphasized the importance of this achievement:
“Advancing to the DRIVE phase gives us a unique opportunity to refine FingerprintML in collaboration with major financial institutions and payment processors. This real-world validation will be invaluable as we prepare for our market launch and establish partnerships with organizations looking to implement cutting-edge fraud detection solutions.”
Our FingerprintML system stands out for its ability to detect suspicious users and online transactions in real-time using device fingerprinting techniques that capture over 100 signals from users’ devices. Combined with our AutoML algorithms, the system continuously learns and improves, offering a powerful defense against evolving fraud tactics.
The EPICENTRE program has already provided Frizbit with valuable resources, mentoring, and networking opportunities that have accelerated the development of FingerprintML. The DRIVE phase will further enhance these benefits, potentially leading to long-term partnerships with major industry players.
Looking ahead, Frizbit will use this momentum to finalize the development of FingerprintML and prepare for its official launch. The technology represents a significant advancement in fraud detection capabilities for e-commerce businesses, financial institutions, and payment processors seeking to protect themselves and their customers from fraudulent activities.
As we enter this exciting new phase, we would like to express our gratitude to the EPICENTRE program, the selection committee, and all our supporters who have believed in our vision. We look forward to sharing more updates on FingerprintML’s progress in the coming months.
About Frizbit:
Frizbit is an award-winning tech startup specializing in AI-powered marketing automation and data solutions for e-commerce companies. Based in Barcelona’s technology district 22@, the company helps online businesses increase revenue, user retention, and customer lifetime value through innovative technologies. Founded in 2018, Frizbit currently serves more than 50 e-commerce businesses across 10 countries in Europe and Latin America.
About EPICENTRE:
EPICENTRE is a program funded by the Single Market Programme (SMP) under the Joint Cluster Initiatives (Euroclusters) for Europe’s recovery from the European Commission. It aims to create new cross-sectoral value chains by establishing partnerships between SMEs, clusters, mid-caps, and corporates in ICT, Fintech, Health, and Agri-food sectors.
