Fraud Detection Software Development Company

Secure your business from fraudulent activities with bespoke fraud detection software developed by a seasoned fintech provider.

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Need to Develop an Intelligent Fraud Detection Solution?

For 18 years, SPD Tech has been engaged in designing and developing high-scale, standard-setting eCommerce and FinTech solutions that are unthinkable without an array of reliable safeguards. The experience we’ve gained has given us familiarity with the threats and risks businesses in these verticals face. Our experience as a fraud detection software development company is associated with an enterprise-scale Omnicommerce Payment-Processing Platform used to serve around 30 000 merchants and processing some $140 million in transactions per month. The fraud detection functionality we have developed allows our client to:

  • Perform the Know Your Business (KYB) procedure.
  • Conduct the Know Your Customer (KYC) procedure.
  • Ongoingly run Transaction Fraud Detection.
  • Continually onboard a large number of merchants from a diverse host of business niches.

The fraud detection software development skills we’ve gained allows us to reliably and seamlessly secure both customer onboarding and payment processing in software solutions for an array of industries. For instance, the Aggregated Merchant Portal that we created for Blackhawk Networks, one of our major customers, allows the businesses to automatically pass OFAC (Office of Foreign Assets Control), EIN/SSN (Employer Identification Number / Social Security Number) and other legal entity ID checks. 

Within the framework of these and other fraud detection software projects delivered for our customers, we employed our deep and diverse expertise in artificial intelligence and machine learning technologies. Being among early adopters of AI/ML, our team of seasoned AI/ML engineers has solid experience in developing tailored fraud detection solutions. The fraud detection systems we build excel in analyzing the vast volumes of data in real-time, detecting fraudulent transactions with anomalous behaviors, and identifying potential fraud incidents proactively. With a focus on model interpretability and robustness, we ensure transparent and reliable fraud detection systems.

Reliable Fraud Software Development Services

SPD Technology builds a full range of fraud protection & prevention solutions to proactively secure your organization against evolving threats.

  1. AI-Enabled Fraud Detection Software Development

    The latest machine learning, data analysis and fraud management expertise is at the core of our fraud detection software development service. From data preprocessing to ensuring operating machine learning algorithms interpretability and explainability, we build our fraud detection software with a deep understanding of both the technical aspects and domain-specific challenges of fraud detection. For each of the fraud prevention and detection projects, we ensure data quality thought its normalization, strategically choose supervised, unsupervised or hybrid learning approaches, identify relevant features that detect patterns while filtering out noise, train and fine-tune the machine learning model to, as a result, transform it into a powerful fraud detection solution.

  2. Custom Fraud Solution Development

    SPD Technology can build a fraud detection system that is tailored to the specifics of your business niche and the customer segments you serve, while positioning it for the highest efficiency. We are solidly experienced in analyzing customer risks for multiple business niches and implementing fraud detection capabilities that address these risks. By leveraging our extensive AI/ML development expertise, we can design a fraud detection solution that accurately identifies fraudulent activities specific to your business environment. Additionally, we ensure that the fraud detection system is continuously optimized, responding to emerging threats effectively.

  3. Fraud Detection Tools Integration

    Our company’s overall software integration experience is nothing short of conspicuous. SPD Technology’s developers have integrated scores of various systems, including the integration of several complex software assets into a single platform. They have a firm command of all the main integration approaches and means. We can couple our integration experience with our fraud detection expertise to seamlessly integrate a fraud detection app we have developed or third-party anti-fraud solution with a software system you have in use.

  4. Enterprise Anti-Fraud Software Development

    Our consummate knowledge of enterprise-grade fraud detection software development specifics allows us to effectively deal with such complexities as managing high transaction volumes that come from diverse transaction channels, navigating complex authorization processes and permissions, combating advanced fraud schemes, and integrating a fraud detection solution into existing enterprise systems and workflows without disrupting its operations.

The Fraud Detection Solutions We Are Capable of Delivering

As a custom fraud detection software development company, SPD Technology excels in building fraud detection solutions that cater to the dynamic requirements and diverse business needs 

  1. Transaction Monitoring Systems

    A robust transaction monitoring system, professionally developed by our team, offers a comprehensive view of customer transactions, ensuring anti-money laundering (AML) compliance. As a result, we provide businesses with a single, integrated platform to monitor money transfers, withdrawals, deposits and other transactions.

  2. Identity Verification Solutions

    The identity verification software we create at SPD Technology stands out with highly reliable biometric methods, real-time monitoring and proactive threat detection. Being seamlessly integrated into user authentication processes, it prioritizes unparalleled fraud prevention and security.

  3. Behavior Analytics Platforms

    Distinguished by advanced ML/AI programming techniques, our behavior analytics platforms identify anomalies and potential fraudulent activities with the highest level of accuracy. Our skilled development team employs sophisticated algorithms and continuously refines models, ensuring their precision in dynamic environments.

  4. Network and Security Monitoring Tools

    These tools enable the identification of malicious traffic and prompt detection and prevention of intrusion attempts. Network and security monitoring tools created by our company also provide continuous surveillance and analysis, ensuring network resilience in the face of a dynamic threat landscape.

  5. Risk Analysis Software

    Developed with precision and accuracy, our risk analysis software utilizes diverse data algorithms, drawing insights from multiple risk centers within an organization. This ensures a comprehensive view of potential risks and effective risk management.

  6. Phishing Detection & Prevention Apps

    Our development expertise also covers phishing detection & prevention apps, offering proactive defense against phishing attempts, Trojans, and rogue websites with URL and domain analysis, email header examination and real-time analysis features embedded.

Success Stories with Global Impact

SPD Technology designs and develops transformative software solutions that drive innovation, new revenue streams, and market leadership.

  • Significant Performance Improvement: The processing speed of the application’s calculation model was reduced from 15 minutes to just 2 minutes, significantly enhancing user experience and efficiency.
  • Successful Integration and Market Positioning: The integration with the MX solution allowed the app to be utilized by banking institutions, opening new opportunities for marketing the solution within the Financial Services sector.
View Case Study
  • Scalable Data Ingestion Service: Successfully developed a scalable data ingestion service, enabling near real-time data retrieval from diverse 3rd party providers including Newscatcher, Owler, and S&P.
  • Appealing Contemporary UI/UX: The SPD Technology team developed a new contemporary, visually appealing, and comprehensive design. This redesign enhances user experience and aligns with modern design standards.
View Case Study

Agile Development and DevOps Integration for Financial Services Company

  • briefcase Industry: Fintech
  • globe-earth Country: United Arab Emirates
  • users-group Team Size: 5
  • The App Serving 35 Million Users Enhanced: The product received effective support and expansion into new countries, ensuring uninterrupted operations and continued growth.
  • Streamlined Deployment Process: By implementing several integrations and refining pipeline settings, the deployment process was significantly amplified, resulting in improved efficiency and reliability.
View Case Study

Our Clients are Happy

To share their experiences

Fabrice Forget: Chief Product Officer, PitchBook

Fabrice Forget

Chief Product Officer, PitchBook

We feel very lucky to have found SPD Technology as our partner. Over the last 10 years, they have totally surpassed our expectations, and day after day we have received incredible value from the team. Here is the secret sauce, just put together your best ideas in your requirements and there is nothing they can’t do!

Shariq Ahmad: Head of Technology, Morningstar, Inc

Shariq Ahmad

Head of Technology, Morningstar, Inc

All of their developers and technology staff are highly talented and very professional. Working with SPD felt like we were working with internal team. They are always accessible any time of the day and very flexible in providing support to our users who are globally distreibuted.

Steve Carner: Founder CEO, Home Hub

Steve Carner

Founder CEO, Home Hub

The team at SPD Technology exceeds expectations. Their professional communication style makes them stand out, They’re a skilled group of detailed-oriented workers. Customers can expect a team that provides helpful suggestions to better their clients.

Yelena Tretyakova: Product Owner, G-Accon

Yelena Tretyakova

Product Owner, G-Accon

Internal stakeholders are impressed with both the resources SPD Group provided as well as the engagement with the company as a whole. The developers were experienced and knowledgeable, and they integrated well with the internal team. They were communicative and dedicated to project success.

Prasad Sridhar: Senior Engineering Manager E-comerce Solutions Company

Prasad Sridhar

Senior Engineering Manager E-comerce Solutions Company

SPD Technology’s work has been praised by the client for their consistency and high quality. Their communicative, responsive, and flexible project management ensures a positive collaboration. Ultimately, their professionalism and forward-thinking are impressive.

Build a robust fraud prevention system!

Our Fraud Solutions Development Expertise

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    Supervised/Unsupervised Machine Learning

    Our team excels in leveraging both supervised and unsupervised ML techniques for fraud detection software development. Depending on the main task your fraud detection software should solve, we can train an AI model to recognize patterns based on labeled historical data (supervised learning) or let it autonomously discover irregularities in data, providing adaptability to emerging fraud patterns (unsupervised learning).

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    Predictive Modeling

    With a focus on predictive modeling, we can build fraud detection solutions that anticipate and prevent fraudulent activities before they occur. This proactive approach minimizes the impact of fraud, safeguarding your business operations and financial assets, protecting your company’s reputation and allowing you to stay ahead of the evolving landscape of cyber threats.

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    Fraud Data Mining

    Fraud data mining expertise covers the ability to extract valuable insights from vast datasets, uncovering hidden patterns along the way. By employing advanced data mining techniques, we identify subtle correlations that may go unnoticed through traditional methods, and as a result, deliver fraud detection solutions of the highest reliability level.

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    Anomaly Detection

    Anomaly identification expertise is at the core of our fraud detection software development services. By creating anti-fraud solutions with strong anomaly detection mechanisms at their heart, we aim at providing your business with a robust defense mechanism, ensuring the prompt detection and mitigation of suspicious activities.

Trusted Globally

From FinTech industry stalwarts to industry-leading eCommerce providers, from well-established large and mid-sized businesses in a range of verticals to promising digital startups

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Touch Bistro
An iPad-based restaurant point-of-sale system enabling owners to manage reservations and take orders instantly
Home Hut
Home Hub
Simple solution to storing all your home appliance manuals in one place and extending the life of appliances
Pie insurance
Pie Insurance
A leading tech-enabled insurance company that provides workers’ comp coverage to small businesses
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Fundomate
A financial services firm that provides automated funding, and alternative lending services for small businesses
Flolive 1
floLIVE
Cloud-based connectivity enablement IoT platform encompasses a wide range of services across market verticals
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Appsec Phoenix
SaaS XSPN – Next Generation Application & Cloud Security Posture Management
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Space Needle
One of the most recognizable landmarks, a company that specializes in innovative travel and hospitality services
Rocketlawyer
Rocket Lawyer
A legal technology company that makes the law simpler and affordable for businesses, families and individuals.
Pichbook
PitchBook
Financial data and software company with offices in London, New York, San Francisco, and Seattle.
Poynt
Poynt
All-in-one omni commerce payment solution with contactless, fast, secure, and safe payment processing
Roche
Roсhe
An A Swiss multinational, the world’s largest biotech company that operates worldwide
Morningstar
Morningstar
An American financial services firm that provides investment research and investment management services

Industries We Can Protect with Fraud Detection Software

Our fraud prevention & detection experience and vast industry-specific knowledge make our company a wise choice for the businesses operating in the high-risk niches.

  1. eCommerce

    Our project portfolio includes such high-scale and feature-rich eCommerce and branded payments platforms like BHN, NimbleCommerce, and Poynt. We’ve developed the fraud detection capabilities of the Poynt Omnicommerce platform. Building on this extensive experience and our continuously expanding fraud prevention and detection expertise, we stand ready to assist eCommerce companies with implementing such fraud detection measures as behavioral analytics, transaction monitoring, multi-layered authentication, device fingerprinting, and geolocation verification.

  2. Insurance

    Our development team has experience in developing complex Insurance functionality for the North-American market. Because of this, we have a fair knowledge of the Insurance realm that can be helpful in insurance fraud detection software development. For insurance companies, we can skillfully build such functionality as claim fraud identification, identity theft prevention, pattern recognition, risk assessment, and geospatial analysis solutions.

  3. Banking

    Financial services and FinTech are our forte. Our FinTech practice employs 270+ highly qualified Fintech software development professionals, who have solved a diverse plethora of challenges in developing advanced FinTech applications. Their expertise covers implementing robust real-time transaction monitoring and fraud prevention mechanisms, developing behavior analytics algorithms, creating secure identity verification processes, and building solutions that can detect fraudulent activities across multiple banking channels.

  4. Legal

    Being well-aware of the complexity of financial transactions and billing processes inherent in legal operations, we, at SPD Technology,  build tailored fraud detection systems that cater specifically to the needs of legal firms and organizations operating within this sector. Leveraging advanced data analysis techniques and machine learning algorithms, we apply predictive modeling, anomaly detection, and pattern recognition to identify potential instances of fraud within legal operations. Our fraud detection solutions are capable of detecting various types of fraudulent activities, such as billing irregularities, expense manipulation, and conflicts of interest.

Build an advanced fraud detection solution to protect your business.

Solid Reasons to Choose Us for Fraud Detection Software Development

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    Practical Experience in Anti-Fraud Software Development

    Our engineering team has hands-on experience in developing advanced fraud detection software that has shown excellent performance over an extended span of time. More specifically, we have developed KYB, KYC, and transaction fraud functionality for our major customers, helping them successfully combat payment fraud, identify theft, and fraudulent transactions issues.

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    Ingenious AI/ML Engineers

    SPD Technology has in excess of 10 years of experience in AI/ML, fraud prevention and detection software development. Currently, we employ 15 first-rate data analysts and engineers, data scientists (PhDs), and machine learning engineers. Our experts have delivered leading-edge AI/ML solutions to clients in diverse industries and geographies, while their  expertise covers deep learning architecture modeling, including convolutional neural networks (CNNs), recurrent neural networks (RNNs), and deep belief networks (DBNs).

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    Advanced ML Programming Techniques

    Our AI/ML experts have a good grasp of various AI and ML programming techniques. We would be eager to use our AI/ML expertise wherever your fraud detection solution can benefit from it. The expertise we have includes but isn’t limited to supervised and unsupervised machine learning, neural networks development, predictive modeling, fraud data mining, and anomaly detection. Our ML/AI programmers are also highly skilled in temporal modeling and sequence analysis that allow the detection of time-sensitive fraud patterns and anomalous behaviors over time.

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    Understanding Fraud Protection Needs of Different Industries

    We have a vast wealth of experience in creating complex solutions for the Fintech and eCommerce verticals and a good idea about the risks businesses in them face. Furthermore, our fraud detection software development experience includes working with risks associated with merchants in an extensive range of business niches. Depending on the specific data protection requirements of your business sector, we will be able to develop actionable fraud prevention strategies and implement them, leveraging the latest advancements of machine learning algorithms programming.

Fabrice Forget: Ex-Chief Product Officer, PitchBook

Fabrice Forget

Ex-Chief Product Officer, PitchBook

We feel very lucky to have found SPD Technology as our partner. Over the last 10 years, they have totally surpassed our expectations, and day after day we have received incredible value from the team. Here is the secret sauce, just put together your best ideas in your requirements and there is nothing they can’t do!

Technologies We Leverage for Fault-Tolerant Fraud Detection Solutions

That Power Your Systems

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Alex Samano: Co-Founder & CEO, Life Dreams INC.

Alex Samano

Co-Founder & CEO, Life Dreams INC.

SPD Technology has done a great job of maintaining the lifeblood of their codes. They’re transparent with pricing models and deliver within budget. Their dedicated teams act as an extension of the partner’s company. Responsibility and a commitment long-term partnership are two hallmarks of their work.

About SPD Technology

SPD Technology is an international software product development company with over 18 years of experience, aiming at empowering our clients with strategic advantages and value-driving opportunities that emerging technologies unlock. We specialize in engineering, implementing and supporting high-end software solutions tailored to meet diverse needs and resolve complex challenges of rapidly growing companies operating in dynamic business environments. 

At SPD Technology, we lead with innovation in emerging technologies such as artificial intelligence, machine learning, cloud computing, and cybersecurity, strategically transforming their technological potential into tangible business opportunities. During our long-lasting partnerships with our customers, we developed an extensive understanding of different business domains specifics, with a particular emphasis on the financial, legal, insurance and eCommerce technology industries. 

With our commitment to ensuring operational excellence, sustainable growth and recurring revenue streams, we deliver bespoke solutions that align seamlessly with the core business processes of our clients. Recognized globally for our commitment to excellence and client satisfaction, we have successfully delivered over 100 projects for industry leaders such as Roche, PitchBook, Poynt, BlackHawkNetwork, and Space Needle, setting new benchmarks in software product development.

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By Independent Organizations

Vector

Confirmed by Oracle certification, our company provides top-notch tech expertise in building and delivering cutting-edge database and cloud-based apps.

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IIBA Certification signifies our proficiency in business analysis, ensuring a deep understanding of client needs and industry requirements.rn

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With AWS Certification, we guarantee top-tier cloud expertise, enabling us to architect robust, scalable, and secure solutions.

Project Management Institute

Trusting your project development to us, you can rely on our project management excellence, meticulous planning, and efficient resource utilization. rn

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Our Scrum Alliance Certification demonstrates our dedication to agile methodologies, fostering collaboration and iterative development.rn

Scrum

Backed by Scrum.org Certification, our development team leverages the best principles of Scrum to build superior and iterative software solutions.

Being a Leading Software Product Development Company 

Recognition of B2B research and review platforms

Vector
An information technology (IT) research and consultancy company

Emerging provider in the Information Technology and Services space

Frame 710 (3)
A platform of in-depth client reviews, data-driven content, and vetted market leaders
  • Top Software Development Company
  • Top B2B Service Provider
  • Top Java Development Company
  • Top 10 Web Development Company
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Access industry data and vetted lists of top companies around the world
  • Top 5 Global Java Developers
  • Top B2B Firm
Top Developers
A dedicated, graded through research and analysis, directory of IT service providers – Top Software Developer
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  • Fastest Growing Mobile App Development Companies of USA
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  • Top Software Development Company
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Digital Platform to deliver insightful features from across the global corporate world
  • Best Software Development Company
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Steve Carner: Founder CEO, Home Hub

Steve Carner

Founder CEO, Home Hub

The team at SPD Technology exceeds expectations. Their professional communication style makes them stand out, They’re a skilled group of detailed-oriented workers. Customers can expect a team that provides helpful suggestions to better their clients.

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    18 Years

    of value-driven Software Product Development experience

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    Over 100 Success Stories

    including projects for the world’s leading companies like Roche, PitchBook, Poynt, and Space Needle

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    Over 600 Full-Time Experts

    are always learning and willing to share their knowledge

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    Secure by Design

    ISO/IEC 27001/27002:2005 standards-compliant, PCI DSS 3.2 compliant data storages, per-project isolated infrastructure

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