Global Risk Technologies Invests in Veridu for Global Expansion and Authentication

Dublin - 24 October 2016

Europe’s first chargeback remediation specialist announces investment in leading user authentication expert for international growth.

Global Risk Technologies, Europe’s first chargeback management company and parent of Chargebacks911, announces a significant new investment in London-based Veridu, an innovative identity verification service provider for online merchants.

Details of this strategic partnership will be publicly disclosed at the world’s leading payments event, Money 20/20, in Las Vegas October 23-26, 2016. As part of this progressive collaboration, Global Risk Technologies adds authentication intelligence to their ongoing efforts to help achieve sustainable growth throughout the eCommerce ecosphere. In addition to coming alongside payments giant and collaborator, Worldpay, Global Risk Technologies is pleased to join other global thought leaders on the Veridu board of directors.

Global Risk Technologies operates a number of patented technologies, including Intelligent Source Detection™ and Affiliate Fraud Alerts™ to help pinpoint the true reasons behind chargebacks and protect against fraud. Its investment in cutting-edge technology is born from its ethos of righting inefficiencies in payments and related processing technology worldwide.

Gary Cardone, Co-Founder and CEO of Global Risk Technologies, comments: “We have looked at dozens of similar investments over the last couple of years and are very impressed with Veridu's technology, leadership, and composition.”

Veridu was founded by respected industry veterans and thought leaders from 192Business and DNB. The company provides innovative technology that can authenticate users with social media partners such as Facebook and Google.

Rasmus Groth, Founding CEO at Veridu, adds: “The investment from Global Risk Technologies is testament to the advanced machine-learning technology we have succeeded in developing at Veridu over the past couple of years. With this we’re able to identify and stop fraud, limiting chargebacks and saving vital revenue at a time of tight profit margins.”

“Our companies are perfectly aligned in terms of culture and technological direction,” concludes Cardone. “The joint intelligence available from the Global Risk Technologies and Veridu partnership will make it possible to manage risk without negatively impacting revenues – all while allowing the least amount of friction for the user, on virtually every side of the payment channel.  We are very excited to see where this joint endeavour will take us."

Global Risk Technologies, parent company of Chargebacks911, is internationally recognised as a leading provider of comprehensive risk management solutions to the payment processing industry. With offices in Europe and the United States, Global Risk Technologies manages over 200 million transactions worldwide each month, specialising in chargeback mitigation and dynamic loss prevention. Founded by merchants in direct response to rising chargebacks and friendly fraud, these companies combine insider expertise with proprietary technology and deep analytics to isolate threats, resolve disputes and maximize revenue. From small merchants to the nation’s largest retailers, today thousands of businesses rely on Global Risk Technologies’ scalable, customisable and fully-turnkey solutions to achieve sustainable growth and guaranteed ROI.

Veridu is the most accurate, reliable and trustworthy tool to quickly and efficiently verify the identity of users in order to eliminate fraud and unwanted user behaviour. Veridu provides both Single Sign On plugins and more comprehensive authentication tools to give the highest level of protection, with the simplest possible process for both businesses and end users. Founded in 2014 in Copenhagen, Veridu is now headquartered in London.