PRESS RELEASE

December 3, 2019

News Summary:

  • CashShield unveils new brand name, ‘SHIELD’.
  • Autonomous risk intelligence platform delivers end-to-end protection.
  • AI and machine-learning technology delivers real-time decisions in <0.1 seconds.
  • Fully automated solution enables customers to scale their business without risk.

SINGAPORE – December 3, 2019 – CashShield, one of Singapore’s fastest growing start-ups, has announced today the launch of its new brand name – SHIELD.

Since obtaining series A funding of $5m in 2017 and $20m Series B funding in 2018 from investors including Temasek, GGV Capital, and Tony Fadell’s Future Shape, SHIELD has experienced rapid growth throughout Asia and around the world with the team growing from 10 to 50 employees in less than 18 months.

The change of brand name marks a significant milestone for the company as it leverages the rise in popularity of SuperApps and eWallets around the world to drive business growth.  In Asia, eWallets are expected to account for two-thirds of regional payment volumes by 2022 and expected to become the leading eCommerce payment method globally within five years.

In today’s interconnected and increasingly digital world, security is critical. Cybercrime is becoming more and more sophisticated with new threats arising on a daily basis – eWallets and eCommerce platforms are particularly susceptible to fraud.

Justin Lie, Founder and CEO at SHIELD commented, “Shield does more than just manage fraud. Our autonomous AI and real-time pattern recognition technology delivers instant risk decisions in less than 0.1 seconds. It is this unique capability that sets us apart and ensures a seamless customer experience, enabling our partners to focus on the growth and profitability of their business – scaling without risk.”

SHIELD’s growth comes off the back of several key strategic partnerships including leading Indonesian digital payments, rewards and financial services platform, OVO. Harianto Gunawan, Managing Director at OVO shared, “We process over 1 billion transactions every year in real-time. Merchants and users place their trust in OVO to deliver a seamless, secure payment experience. Shield plays a critical role in delivering against this promise.”

Justin Lie added, “Our new brand and messaging dives deeper into our technology than ever before, with ‘Autonomous Risk Intelligence’ being at the forefront of our new identity. In these three words we capture our uniqueness in the marketplace as the only provider that delivers a truly autonomous, instant risk decision.”

Tony Fadell, iPod inventor, iPhone co-inventor, Nest Founder and Future Shape Principal said, “SHIELD has an army of battle tested A.I. sentries to predict and prevent fraud while guarding the entire digital ecosystem for any web commerce. Customers have seen fraud rates drop by an order of magnitude within weeks of deploying SHIELD’s global fraud intelligence engine.”

Welcome to a new era of cyber protection

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ABOUT SHIELD

SHIELD is a global enterprise Cyber Security company that leverages over a decade of domain intelligence and artificial intelligence to help companies block fraud in real-time. Founded in 2008, SHIELD was the first to introduce a 100% fully automated fraud solution and profiles more than 5 billion devices per year and over 500 million user accounts globally. Its SaaS-based Autonomous Risk Intelligence platform provides cyber protection to enterprises across the globe, covering industries such as e-wallet, super apps, e-commerce, travel, retail and gaming.

For more information on Shield, visit www.shield.com.