Fraud Prevention Firm Oscilar to Help Businesses Protect Online Transactions from Theft, Scams

Confluent Co-Founder and Board Member Neha Narkhede and former Meta engineering executive Sachin Kulkarni announced the launch of their newest company, Oscilar, with the goal of “solving one of the biggest challenges facing businesses and consumers: how to protect online transactions from fraud and theft.”

Oscilar claims that it is “a first-of-its kind real-time Artificial Intelligence (AI) powered platform that, within milliseconds, makes online transactions significantly safer for companies and consumers.”

Oscilar’s all-new approach to fraud and risk management, “called AI Risk Decisioning, is the most advanced solution ever created to protect online transactions.”

Oscilar provides companies “with the most advanced fraud and risk detection tool ever created.”

After working in stealth for the past two years, Narkhede and Kulkarni announced “that they are self-funding Oscilar with $20 million – opting to not take outside funding so they could quickly build and scale the company.”

Oscilar Co-Founder and CEO Neha Narkhede said:

“We see a huge opportunity to use AI to keep both consumers safe and ensure companies are able to smartly and accurately assess their risk in real time. Customers expect every online transaction to be instantaneous and safe, but existing technology puts businesses and customers at significant risk – and requires intense engineering support and overhead. Oscilar changes that. We’ve spent the past two years putting together a top-flight team of engineers and data scientists – creating a platform that uses AI to fully automate decisions about credit and fraud risk in milliseconds.”

The market for risk protection is “valued at over $200 billion and is expected to only increase as the number and value of online transactions continues to skyrocket.”

Credit and fraud risk now “costs companies more than $48 billion and consumers $8 billion annually.”

Oscilar Co-Founder and Chief Technology Officer Sachin Kulkarni said:

“During my time leading engineering teams at Meta, I found that data and AI played a huge role for making risk decisions – but this technology was hard to build and not easily accessible to our business teams. We built Oscilar so that companies could have a thorough risk decisioning solution but wouldn’t have to use their engineering teams’ valuable time to achieve that. Oscilar gives companies the most comprehensive solution to assessing risk in every online transaction – doing this through a no-code AI risk decisioning platform.”

The Silicon Valley based company was “founded in 2021 and has been operating in stealth mode until now.”

Oscilar’s technology is already “being used by industry-leading fintech companies.”

Oscilar is built “by the same team that created advanced risk management platforms at Apple, Uber, and LinkedIn.”

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