Online synthetic fraud is a growing concern for many enterprises. Currently, most fraud detection is rule-based, which is often inaccurate in identifying fraudulent behavior. UrbanFox utilizes generative artificial intelligence to detect fraud by building technology that “thinks” like a fraudster and mimics their behaviors, resulting in businesses being protected from crime with minimal human interaction.
“The rise in online fraud attacks is a major issue for the airline industry, with current offerings unable to provide an effective solution. We believe UrbanFox’s innovative generative AI solution tackles this issue. Our investment will allow us to bring this novel technology to JetBlue to detect and prevent fraud more effectively.”
—Ryan Chou, Investment Principal, JetBlue Ventures
“At UrbanFox, our mission is to more accurately identify the most sophisticated type of fraud attacks and stop fraudsters before they ever get close to using a compromised credit card. We’re excited to have JetBlue Ventures as an investor to help grow our business in the travel industry!”
—Daniel Loftus, Founder & CEO, UrbanFox
Dublin’s UrbanFox bags €3.5m to grow its anti-fraud tech business