August 20, 2015
LTP spoke with the CEO and Co-founder of fraud analytics firm, Rippleshot. With the upcoming transition to chip-and-PIN, data breaches and cybersecurity are hot topics.
I (Ruth) have the pleasure of speaking with Canh Tran. Thanks for taking the time to speak on this topic.
Canh: Thanks, Ruth. Glad to be here.
LTP: Can you give our readers a brief snapshot of your background in this space?
Canh: I have spent over 15 years working on cybersecurity and fraud, specifically in real-time credit card fraud detection.
LTP: How did Rippleshot come about as a company? What specific need did you see in the market that your company provides a service for?
Canh: We were working on real-time credit card fraud detection for the last 10 years or so, and what that means is every time you take a credit card and use it at a store, one of our systems will return a real-time score that will tell the credit card-issuing banks whether to accept the transaction or not.
So, depending on Ruth’s pattern, it might be a fraudulent transaction. So let’s decline it, or yes, that’s a normal transaction for Ruth, so let’s acc ...