Rabobank has made an investment in the fraud detection fintech, ThreatFabric.
Co-developed with ABN Amro, ThreatFabric offers a software-as-a-Service package for banking web and mobile channels. The investment from Rabobank, made through its investment arm Rabo Investments, builds on an earlier €11.3 million Seed round in May of last year. This round included participation from Motive Ventures, 10x Founders, 14Peaks Capital, and ABN Amro.
ThreatFabric’s Fraud Risk Suite focuses on behavior-based location intelligence and behavioral biometrics. This approach employs AI to map out criminal attack paths through continuous threat modeling. For instance, the company highlights typical signals of fraud in Authorised Push Payment (APP) fraud, such as drained savings and the use of new Remote Access Tools or call spoofing applications.
When a fraudster utilizes these attack paths or tools, additional risk scores are integrated into the overall behavioral analytics engine.
Han Sahin, CEO of ThreatFabric, pointed out that Rabobank has been a long-term client. He stated, “We believe in close collaboration with our customers to elevate our products to enterprise-grade standards. I’m thrilled that Rabobank is now more than just a customer. Our journey together began nearly two decades ago with security code reviews on Rabobank’s first online banking product. Today, they are partners.”
Anton Jan Cozijnsen, who leads Rabobank’s fraud detection initiatives, echoed these sentiments: “We’ve worked with ThreatFabric closely for years and actively collaborate on the roadmap. Co-creation is what makes their product suites so powerful. We’re excited to extend the partnership.”