6.15.23-STEX-CA-Eydle

SPEAKER 1: And now to wrap up this group we have Eydle. They have a powerful visual technology to protect your brand and your business from scams.

ASHWINI RAO: Hello. Hi, I'm Ashwini Rao. I'm the co-founder and CEO of Eydle. Eydle is a scam protection platform to protect employees and customers of enterprises. So as per the US FTC, in the last five years, scams increased 1,800%. 1,800. How? By targeting 4 billion users on social media. Now these users are also employees of enterprises and they're also customers of enterprises. Just one scam can cause $150,000 or more in losses to an enterprise.

Now remember, every single day there are tens to hundreds of these scams that target an enterprise. Now, we all have heard of scams, so how are these scams different? Why should we worry about these scams? So we know of phishing emails, we know of phishing websites, but these scams are primarily coming out of social media and they're very visual. Think of social media: it's videos, it's images, it's posts. And as we say, a picture is worth a words and 1/10 of a second is all we need to make a decision when we see a visual scam. Forget about that grammatical mistake, no one will read it. We have already made up our mind.

So the current solutions out there are not effective against visual scams. And just one statistic. 5% of those who encounter an SMS-based text scam from your CEO fall for it, they lose money. 70% of those who encounter social media visual scams lose money. Eydle is a SaaS platform. We do cutting-edge research in deep learning and we apply it. And we can find 50% more scams compared to any other solution out there and with near zero false positives. So if you are working in fraud or cyber security, you know that is almost like a dream come true, near zero false positives.

Enterprises can monitor social media, they can monitor app stores, and they can monitor the dark web using Eydle. So how does it work? It's a simple three-step process. Onboarding. There's no installation. It's a SaaS platform. We only need your public information like phone numbers or your social media handles. Or if you're a fintech company, BIN numbers. We do everything else. We set it up and we alert the enterprise, our customers, when we find a scam. All sorts of notifications. Slack notification, dashboard, email, API, you name it.

What do you do after you find a scam? You got to take it down. So we have partnerships with some of the big players. And if you're interested come talk to us. So we do provide takedown assistance. So Slice is one of our customers. It's a unicorn neobank that serves over 12 million. I think they are very heavy on social media. Now, by switching to Eydle, Slice is finding 50% more scams.

So Eydle not only find scams. We also extract scam intelligence. For example, not only do we find a YouTube video that shows fraudulent customer care numbers, we extract that customer care number. Now Slice is using this intelligence to improve their KYC process. For example, blocking applications that contain fraudulent data. They're also protecting their customers by blocking leaked credit card numbers. And lastly but also very important, they're blocking compromised endpoint accounts, which prevents data breaches which no one wants.

So we are looking for partners, enterprises who are serious about protecting their employees and customers from scams. We are targeting financial and fintech services, but we also want to expand into categories like retail and government and shipping that are also very heavily impacted by scams. We are looking for both US based and we want to expand into Asia. If you are interested in knowing how we can find 50% more scams for you, come, we can do a pilot We have a demo. Please come check it out. We also have a very interesting scam art exhibit for you which you must not miss. If you are interested in how generative AI scams look like or other scams look like please come check it out. Thank you.