Gartner® Recognizes Spec in 2022 Market Guide to Online Fraud Detection

Spec is proud to be named as a representative vendor in Gartner’s 2022 Market Guide to Online Fraud Detection¹ (OFD), in addition to its previous mention in the Innovation Insights report². We believe these inclusions further affirm our product vision and commitment to help our customers deliver dynamic user experiences while mitigating risk.

The Spec Difference

Spec helps customers control their digital experiences by managing a holistic view of fraud through its Trust Cloud rather than providing a single risk signal or purpose-built risk solution (e.g., bot solutions). The Trust Cloud incorporates data from fraud vendors across the user journey and completes the picture by:

• Starting the user journey before account login 
• Orchestrating first- and third-party data to inform instant risk decisions
• Linking data across user sessions to discover abuse at scale
• Surfacing user insights across the entire user journey, not just high-risk checkpoints

Furthermore, Spec’s vision extends beyond fraud detection to fraud mitigation. The Trust Cloud stops abuse on our customer’s websites as it is happening by automating business rules and policies for reactions in real-time without a line of code. Spec’s customers have the ability to adapt as quickly as the attackers, isolating bad actors while ensuring frictionless experiences for good users and protecting revenue.

In other words, when a fraud team is using the Trust Cloud, they don’t have to get projects approved to make changes to their fraud defense strategy. They can make major strategy changes in just a few clicks.

The Trust Cloud in Action

One Fortune 500 company recently utilized Spec’s Trust Cloud to pinpoint unauthorized resellers that were buying out high-demand event tickets to sell at a markup on their own websites. They were able to deploy the Trust Cloud in 15 minutes. Spec was then able to pinpoint abuse at scale, such as linking a single reseller to dozens of user sessions, each attempting to purchase dozens of tickets. Spec’s automated workflows pulled in sufficient data to deem these attempts suspicious and immediately blocked them. Our customer did not have to write a single line of code to achieve this six-digit outcome in days.

Contact us today to learn how the Spec Trust Cloud can help you.

Footnotes

1. Gartner, Market Guide for Online Fraud Detection, Akif Khan, Dan Ayoub, 2 December 2022
2. Gartner, Innovation Insight: Journey-Time Orchestration Mitigates Fraud Risk and Delivers Better UX, Akif Khan, 10 June 2022

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