Bronze Sponsor
Founded in 2013, Mangopay powers a flexible, e-wallet-based payment ecosystem that enables the largest and fast-growing platforms to monetize their transaction volume. Mangopay’s end-to-end white-label infrastructure allows platforms to manage multi-party payments, control money flows, and unlock new revenue streams. Built around its programmable e-wallet solution, a comprehensive FX product suite streamlines currency exchanges, offering global platforms the opportunity to capture additional revenue. Its unique virtual IBAN solution improves operational efficiency by combining local accounts with fast settlement and automated reconciliation. Global platforms rely on Mangopay to deliver unique payment experiences tailored to diverse business models and workflows. From user registration and pay-in to payout, all users and transactions are safeguarded by AI-driven fraud prevention, providing a 360° view of the user journey.
With over 250 million end users and more than €110 billion in processed transactions, Mangopay continues to lead in the fintech space. In July 2024, it was recognized among CNBC’s World’s Top Fintechs. Its Fraud Prevention solution also earned both a Fintech Breakthrough Award and a Global FinTech Award in 2024
How we reduced ATO and account opening fraud for BlaBlaCar
BlaBlaCar is the world’s leading community-based travel network, enabling over 26 million unique members to share a ride across 21 markets, with more than 10 million bookings per week.
Before using Nethone's fraud prevention, Blablacar faced a challenge with Account Opening fraud and Account Takeover (ATO).
How Nethone solved the challenge
We initially implemented a Proof of Concept (POC) model on BlaBlaCar's platform that was customized to their specific needs for detecting ATO. The POC proved to be successful in detecting a significant number of ATO cases. Yet fraud trends evolve rapidly, so when new patterns emerged, we responded to the changing landscape by quickly adjusting the model to maintain high precision of ATO detection.
Our ML-based fraud detection setup has proven to be highly accurate in identifying fraudsters while minimizing false positives. In a specific instance, our solution detected a single user/device attempting to open 536 different accounts over the course of a month using various techniques to hide their identity. We were able to identify and block all these fraudulent attempts, protecting the experience for BlaBlaCar’s legitimate users.
Throughout our ongoing collaboration, we’ve consistently provided support in improving BlaBlaCar’s fraud detection models. Our client greatly appreciates the direct interaction with the data scientist responsible for creating and fine-tuning the customized models to meet their specific requirements.
The results
We detected ~70% of all fraudulent cases in the initial stages of the fraud prevention process. This early detection allowed for swift action, preventing fraudulent activities from progressing further. This high detection rate was achieved while maintaining a minimal impact on legitimate user traffic.
Please read the full case study here.
‘We were looking for a solution provider with deep expertise in addressing ATO and scams, and the evolving tactics used by fraudsters to deceive community members. We highly appreciate Nethone's dedicated Fraud Intelligence team who helps us actively innovate our solution, staying ahead of the curve by identifying new fraud trends in fraudsters’ behavior through first-hand Dark Web intelligence.’ - Charles Jouanjean, Lead Product Manager.
