Barry Bowen: Less Fraud Loss, More Efficient Fraud Prevention and Customers That Can Transact With Trust, Knowing They Are Safe Without the Hassle

August 29, 2022
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At fraud.com, we help businesses reduce the cost, time, and challenges faced by protecting the customer’s digital journey against fraud.

Tell us about yourself?

What is your background? What made you get into this line of work? In my early years across the 70s and 80s, I was partial to lego, BMX, electronics and anything to do with technology.

In the early 90s, I followed my dream in technology and started my career as an implementation engineer travelling worldwide, delivering fraud prevention systems for telecommunication and financial organisations.

It became apparent that each company had many fraud solutions, each doing its own thing and not working together as a unified defence.

I always wondered, what if fraud prevention was united, forming a single defence? Fast forward to today, I am a co-founder and technology storyteller at Fraud.com, the complete fraud prevention provider protecting the entire customer’s digital journey against fraud in the most efficient way.

If you could go back in time a year or two, what piece of advice would you give yourself?

Smile more, worry less. Positivity is infectious, and happiness is a choice. Oh and travel more!

What problem does your business solve?

For decades, organisations have been inefficiently battling fraud by adding numerous solutions that don’t communicate with each other, only to evaluate the customers’ risk and trust using a few pieces of the puzzle.

Not to mention the unnecessary costs associated with managing many disconnected systems.

Here at fraud.com, we deliver a unified approach to fraud using our solutions and others to form a fraud foundation. The result is less fraud loss, more efficient fraud prevention and customers that can transact with trust, knowing they are safe without the hassle.

What is the inspiration behind your business?

Fighting fraud is not easy; fraudsters are very creative, and the costs of fighting fraud are out of control. The future of fraud prevention is united and efficient, and fraud.com is delivering this future today.

What is your magic sauce?

The magic sauce is to close the gaps and unite fraud detection, identity and cyber to form an agile, informed, responsive defence.

What is the plan for the next 5 years? What do you want to achieve?

Fraud will never go away; more likely will only grow more as digital services and devices increase, resulting in higher fraud loss and bad customer experiences.

At Fraud.com, we follow our path to fraud prevention unification, a one-stop shop for fraud prevention that also brings the foundation for other defences to come together to reduce risk and improve customer experiences.

What is the biggest challenge you’ve faced so far?

Our path to fraud prevention unification was initially challenging; many did not see the same vision, as most were looking to protect their business channels and did not look at fraud prevention as one strategy.

But as fraud increased, so did the fraud loss and associated prevention costs. Fast forward a few years later, with several clients and industry recognition, we remain on the same path as a one-stop shop for fraud prevention, as we know the future of fraud prevention is unified.

How do people get involved/buy into your vision?

End with a description of who you want reaching out to you and how they can work with you? e.g. We want Amazon sellers to start collaborating with us. You can join our discord server here…

The Fraud.com team welcomes fraud prevention, identity and cyber leaders to learn how we are reducing risk and improving customer trust while delivering the most efficient central intelligence to mitigate fraud.

You would love to share our experiences; you can reach our team of fraud prevention specialists at [email protected].

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