We are pleased to announce Dan Dica has been appointed the new CEO of Lynx. Lynx is a software company that specializes in AI-based fraud and financial crime prevention solutions.Dan will oversee Lynx’s businesses to take them to new heights growth and global success, turning Lynx into a global leader in AI for fraud and financial crime prevention. […]
Lynx recognized for achievements in fraud detection and prevention, with AI-powered Daily Adaptive Model protecting 69 billion transactions every year
NEW YORK, October 24, 2024 – CB Insights today named Lynx Tech to its seventh annual Fintech 100, showcasing the 100 most promising private fintech companies in the world.
“The 2024 Fintech 100 winners are high-momentum companies shaping the future of financial services,” said Laura Kennedy, Principal Analyst at CB Insights. “Unsurprisingly, this year’s cohort is deploying AI across a wide variety of solutions. But they’re also diverse in their reach in emerging and developing economies, and focus on everything from fraud prevention to financial inclusion.”
“Our technology gives financial institutions the power to fight back against financial crime in real-time, using artificial intelligence to detect fraud and money laundering,” said Dan Dica, CEO at Lynx. “Our recognition in the Fintech 100 reflects our relentless commitment to remaining vigilant, agile, and customer-focused on the battle against fraud. We’re proud to protect over 300 million people against fraud, each year leveraging our game-changing Daily Adaptive Model.”
The list primarily includes early- and mid-stage startups driving innovation across fintech. Our research team picked winning companies based on CB Insights datasets, including deal activity, industry partnerships, team strength, investor strength, employee headcount, and proprietary Commercial Maturity and Mosaic scores. We also dug into Analyst Briefings submitted directly to us by startups.
Lynx offers a suite of solutions including Lynx Fraud Prevention, Lynx Money Mule Detection, and Lynx AML, each designed to tackle the complex challenges faced by financial institutions and payment providers. Central to these solutions is the proprietary ‘Daily Adaptive Model,’ which learns new behaviors and updates models daily, significantly enhancing risk accuracy. This innovation has saved financial institutions over $1.6 billion in fraud losses, safeguarding more than 69 billion transactions and over 300 million consumers annually. Lynx’s performance exceeds industry standards by threefold, maintaining exceptionally low false positive rates.
The latest accolade follows Lynx’s recognition earlier this year as a leader in Chartis’ Enterprise and Payment Fraud Quadrants and as a Best of Breed Solution in the 2024 Chartis RiskTech Quadrant for Name and Screening solutions. Its placement in the Fintech 100 further solidifies the company’s position as a frontrunner in the financial crime prevention sector.
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About Lynx
Lynx is an AI-driven software company designed to solve clients’ most significant fraud and financial crime challenges. Our solutions utilize advanced AI technology to proactively identify and prevent fraud and financial crimes in real time, setting new standards for accuracy, speed, and scalability across multinational organizations.
Lynx is dedicated to helping its clients move from a reactive to a proactive response by harnessing the power of AI to illuminate risk and deliver actionable insights. Lynx continues to set the standard for accuracy, speed, and scalability for multinational financial institutions (FI) and payment providers around the globe. Learn more at https://lynxtech.com
CONTACT: Lynx@missive.co.uk
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