New Solution From Shape Security Brings Enterprise-Grade Online Fraud Protection To The Mid-Market

Shape Connect™ Provides Industry's Highest Level of Defense for Mid-market Organizations at Unrivaled Value to Defeat Fake Traffic Online

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Shape Security

May 07, 2019, 12:15 ET

MOUNTAIN VIEW, Calif., May 7, 2019 /PRNewswire/ -- Shape Security today announced a new solution, Shape Connect, that brings the company's industry-leading anti-bot and fraud protection technology to the mid-market at an affordable price. With Shape Connect, organizations without security and IT teams can protect their online businesses against sophisticated bots, credential stuffing and other attacks that lead to fraud.

Shape Connect:

Can be deployed in 30 minutes or less for most web properties, and immediately protects an entire website against bot-driven fake traffic
Is completely seamless and transparent to genuine human users
Features an easy-to-use admin interface that illuminates a site's traffic and how it is being protected
Can be deployed and administered without security expertise
Offers a completely cloud-based solution: no hardware, nothing to install and always up to date
Is priced to scale with the size of an online business

Shape Connect protects mid-market organizations against the rising tide of fake internet traffic, which is largely fueled by the explosion in misappropriated credentials. In 2018, more than three billion credentials were reported stolen or leaked. Some of the largest breaches included 340M records from Exactis, 150M records from MyFitnessPal, and 87M records from Cambridge Analytica. In fact, criminals stole and exploited more than 10M credentials per day throughout 2018.

Although the breaches make headlines, few appreciate what really happens when these records fall into the hands of cybercriminals. An entire criminal ecosystem exists to exploit these credentials at scale through sophisticated automation – including intelligent online robots (or "bots"). Cybercriminals use bots and other automation to fraudulently access not only the sites from which the credentials were stolen, but literally every other online property, from social media to retail to travel and hospitality to healthcare. For many online businesses, this fake traffic – criminals attempting to log in or create fake accounts billions of times per day – can represent 90% or more of a website's traffic.¹ This fraudulent activity costs North American businesses over $5 billion annually in credit card chargeback fees and other fraud-related expenses.

Shape already defends 1.7 billion user accounts and 150 million legitimate daily logins from account takeover through its enterprise-grade offering, Shape Enterprise Defense™. This highly configurable and tailored solution leverages advanced machine learning, bot mitigation and other advanced, patented technologies to protect eight of the top 12 US banks, five of the top ten global airlines, two of the top five global hotels, and two of the largest US government agencies.

Today, Shape is advancing its mission to eradicate fake and fraudulent Internet interactions everywhere with the introduction of Shape Connect. Shape Connect eliminates credit card chargebacks, gift card fraud, account take-overs and other business consequences of fake, bot-driven Internet traffic. Shape Connect ensures only genuine humans are using protected websites, leveraging the power of Shape Enterprise Defense, but in a simple-to-deploy, cloud-based solution with packaging and economics suitable for commercial and mid-market organizations.

Eliminating the risks of fake traffic not only improves customer experience, but also provides consumers with a safer online experience. Reflecting on these bottom-line benefits, JetBlue's Chief Digital and Technology Officer Eash Sundaram noted, "The safety and security of our customers, in all aspects, is JetBlue's top priority. Shape has proven to be a very impactful partner for us as we protect our customers online."

"Fake traffic that simulates real users is the fastest-growing problem in security. It affects any web or mobile app meant to serve real users. Helping organizations protect themselves and their users is vital to restoring trust online," remarked Sumit Agarwal, co-founder and COO. "We've perfected our technology with more than 25% of all consumer brands in the Fortune 500, and now with Shape Connect, we're ready to bring that level of defense to the broader market. Starting now, every company, regardless of size, can be protected from the pain and loss of fake traffic."

Shape Connect is available immediately. Qualified businesses can get a free 30-day trial to experience first-hand the protection against fake traffic and fraud that Shape Connect delivers for their own business.

About Shape Security

Shape Security is defining a new future in which state-of-the-art not only stops attackers, but also welcomes good users. Shape disrupts the economics of cybercrime, making it too expensive for attackers to commit online fraud, while enabling enterprises to more easily identify and transact with genuine customers on their websites and mobile apps. The world's leading organizations rely on Shape as their primary line of defense against attacks on their web and mobile applications, including three of the top five US banks, five of the top ten global airlines, two of the top five global hotels and two of the top five US government agencies. The Shape platform, covered by 55 patents, was designed to stop the most dangerous application attacks enabled by cybercriminal fraud tools, including credential stuffing (account takeover), fake account creation, and unauthorized aggregation. The company is headquartered in Mountain View, California and is backed by the leading security venture capitalists in Silicon Valley.

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