BrowserID, whose products identify suspect web transactions in e-commerce, has sold 17 percent of its shares to Proekspert. Proekspert plans to connect BrowserID technology when offering solutions to its own clients.
BrowserID is a data-comprehensive Device Insight API that enables customer background checks on 200 parameters without accessing private information. It is commonly used in fraud detection, to help media companies remove unwanted language, to assist in compliance for online financial services, as well as applications in payment optimization.
As more commerce moves to the internet, BrowserID allows companies to personalize service for customers, yet at the same time determining whether a customer’s network can be trusted.
“The applications of BrowserID go well beyond web stores,” says Proekspert Lead Marko Sverdlik. “The major strength of BrowserID technology is its versatility and potential for wide application. It clearly raises the level of cybersecurity.”
BrowserID was founded in 2011 and brought its product to market in 2013, and its technology is currently used by five major firms to make 300 million user identifications per month. The post-acquisition goal is to increase the system’s capacity to handle 10 billion identifications per month.
BrowserID founder and management committee member Argo Mändmaa says BrowserID collects information in a way that does not endanger the privacy of the end user. “BrowserID collects information from only the user’s equipment and his place in the web, and the user remains anonymous to us. Data collected by BrowserID also enables the merchant to make more tailored offers to clients.”
BrowserID founders Argo Mändmaa and Mihkel Kanarik have both worked for Skype in the areas of cybersecurity and cybercrime discovery.
More information about BrowserID can be viewed here: browser.id