An Interview with Evina

March 2021

Juniper Research

Analyst House

We interviewed their team to find our more about their award-winning financial clearing solution, and how it can help combat the issues arising from fraud.

While attending a telecommunications engineering university, David interned at a Parisian start-up in the direct carrier billing services field. Within a few years, David became the CTO, managing a team of 20 developers, while the company grew from 10 to 50 people and reached a turnover of €15 million.
In 2013, massive fraud patterns began to appear on the market, and in response, David developed a very successful anti-fraud solution. Five years later, David bought full ownership of his anti-fraud solution, and with the help of his former employees, founded Evina.

1. What makes Evina’s financial clearing different from others in the market?

Evina provides cybersecurity as a driver for business growth: While most cybersecurity solutions only seek to limit the damage caused by fraud, Evina increases the revenue of its customers by enabling them to unlock more efficient payment flows.

2. How do Evina’s services unlock more efficient payment flows for its clients?

The best payment experience for users is automatic payments, which require the least amount of effort from all players involved. Uber is well aware of this. Unfortunately, too many payment gateways are crippled by the fear of fraud, they pile up captcha, checkbox and validation steps without ever solving the underlying issues. Once they partner with Evina, they instantly manage to reduce their fraud rates without degrading the user experience. Financial services providers can start to improve their customer journey.

3. How does Evina predict the issues arising from fraud to develop over the next five years?

We are already living in critical times where criminal organisations heavily invest in cybercrime, seeking high scalability and low risk of online crime. As a result, fraud will gradually become more and more automated, powered by increasingly sophisticated robots that will simulate users’ voices or fingerprints.

4. What are the key challenges facing the market for financial clearing services?

Regulators are beginning to be less tolerant in regards to user complaints, even though it has never been more difficult to deal with fraud. Today, there are a growing number of criminal platforms that make fraud accessible to everyone, and crime-as-a-service solutions are experiencing exponential growth. There is a significant imbalance between the ease of committing fraud and the cyber expertise available in-house in financial clearing services to correctly deal with fraud.

5. How is Evina positioning itself to face these challenges?

We are first and foremost heavily investing in high-tech, our R&D team will be multiplied by three in the coming year. We are also increasing our partnerships with the largest companies on the planet to capture more and more data, which gives us a decisive advantage.

Finally, we are working with organisations such as the MEF and the GSMA to carry out important educational work. Our goal is to ensure that market players have access to the best practices when it comes to dealing with fraud.