Google alums rollout Simility fraud-detection platform

A team from Google’s fraud-detection group has started its own software as a service venture for spotting transaction fraud quickly based on rule sets and that also learns as it goes to improve its hit rate.

Simility examines online transactions to identify indicators of foul play and assigns them risk scores from 0 to 1. Customers can use the information to shut down transactions it deems suspect.

The Simility Fraud Prevention Platform service is available starting next week after a six-month private beta.