Company Announcements

Freight & Logistics Industry Leader Selects Verosint's AI-Powered Solution To Successfully Outsmart Fraudsters

AUSTIN, Texas--(BUSINESS WIRE)--Feb. 5, 2024-- Verosint, a leader in real-time account fraud prevention, has been selected by DAT Freight & Analytics to combat account fraud within their online freight marketplace. DAT is the recognized leader in the freight and logistics industry with the largest freight load board to connect shippers, carriers, and brokers across North America. Verosint’s rapid implementation at the company, followed by an immediate and drastic reduction in fraud, marks a significant step toward preventing fraud in an industry responsible for the movement of over $38 trillion worth of freight annually. You can learn more about DAT’s success story by registering for a complimentary customer success webinar with Verosint and DAT on Feb 6 at 12pm EST. Verosint will also provide live demonstrations of their account fraud prevention solution at the Manifest 2024 Conference from February 5^th to 7^th at Booth K19.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240205535978/en/

Account fraud is a serious problem for the freight and logistics industry with widespread consequences including financial loss, brand damage, customer turnover, lost revenue, operational disruption, and more. The industry's complex supply chain with multiple vendors and intermediaries exposes many potential vulnerabilities that fraudsters and organized fraud rings actively target. Fraud schemes can be very diverse and difficult to detect, including combinations of account takeover, fake accounts, and account-based impersonations, scams, collusions and transactions.

Outsmarting Fraudsters: DAT’s Success Story

Like others in the industry, DAT faced an increase in account fraud including the proliferation of fraudulent accounts, impersonated carriers and brokers, fraudulent bids, “double brokering” fraud, and more. DAT turned to Verosint’s real-time account fraud prevention solution which was implemented in one and a half days using simple API calls from the company’s existing systems. Verosint’s impact was immediate, discovering account fraud hiding within their platform and revealing multi-national fraud rings that were conducting fraudulent bids and transaction.

Transformative Benefits for DAT

Verosint's solution delivered significant results for DAT in the first 90 days:

• Dramatic reduction in account fraud
• Blocked 49,500 fraudulent registration attempts
• Savings of 25,000 labor hours
• Improved customer satisfaction by eliminating delays
• Streamlined case investigations using Verosint’s AI-powered analytics

“The capabilities we've gained have been eye-opening. Verosint helped us identify fraud clusters and trends across our vast event data,” said Calvin Locklear, Enterprise Solutions Product Manager, DAT Freight & Analytics. "Verosint's team has been an integral part of our fraud prevention strategy, and the ease of deployment and integration into our existing systems was remarkable."

See Verosint’s Fraud Prevention Solution in Action

Verosint will be exhibiting their fraud prevention solution at Manifest 2024 from February 5-7 in Las Vegas. The Manifest Conference is a premiere gathering for the U.S. freight, supply chain and logistics industry, and Verosint will provide live demonstrations of their platform in Booth K19. More information on Manifest is available at https://manife.st.

Additionally, Verosint and DAT will conduct a webinar to discuss their fraud prevention solution and lessons learned on February 6 at 12pm EST. The webinar will also cover best practices to outsmart persistent fraudsters with industry experts from DAT, Verosint, Okta and IDdataweb. You can register for the complimentary webinar here.

About Verosint

Verosint provides real-time account fraud prevention that reveals fraudsters hiding in user accounts and proactively blocks them before their attacks can cause harm. Only Verosint can discover, prevent and block modern account fraud with AI-powered automation and efficiency, stopping account takeovers, account opening fraud, and account-based impersonations, scams, collusions and transactions. Verosint exposes account fraud in minutes via secure APIs with no software to install, and turns those responsible for security, fraud and compliance into real-time account fraud fighting experts. To learn more, visit www.verosint.com.

About DAT Freight & Analytics

DAT Freight & Analytics operates the largest truckload freight marketplace in North America. Shippers, transportation brokers, carriers, news organizations and industry analysts rely on DAT for market trends and data insights based on more than 400 million freight matches and a database of $150 billion in annual market transactions.

Founded in 1978, DAT is a business unit of Roper Technologies (Nasdaq: ROP), a constituent of the Nasdaq 100, S&P 500, and Fortune 1000.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240205535978/en/

press@verosint.com

Source: Verosint