F5 Networks intros new fraud detection engine based on Shape Security acquisition

F5 Networks on Tuesday introduced Shape AI Fraud Engine (SAFE), a new SaaS offering that promises to eliminate fraudulent online transactions that can sometimes bypass other security and fraud detection controls.

Leveraging technology from its $1 billion acquisition of Shape Security earlier this year, F5’s SAFE service evaluates online transactions via AI in order to understand user intent and block potential fraud before it occurs. The product marks F5’s first real push into the fraud market since acquiring Shape Security, the company said.

Following its acquisition of Shape Security, F5 has integrated Shape’s capabilities into its portfolio of application security services, with F5 serving as a traffic flow insertion point for Shape’s online fraud and abuse prevention solutions. F5’s app security services specialize in protecting applications across multi-cloud environments.

“The need for innovation in fraud prevention becomes more urgent when you factor in the accelerated shift to online channels driven by the current global health situation,” said Sumit Agarwal, VP of analytic products at F5, and co-founder of Shape. “We’re seeing
fraudsters launch increasingly sophisticated attacks that take advantage of COVID-driven shifts and overall economic distress.”

Earlier this year F5 announced series of new multi-cloud application security services, including a service that brought its Web Application Firewall (WAF) technology to the NGINX platform stemming from the company’s acquisition of NGINX. 

The acquisitions of Shape Security and NGINX and recent product launches have allowed F5 to reframe its approach to security with a focus on four key areas: application layer security, trusted application access, application infrastructure security and intelligent threat services. The Shape AI Fraud Engine fits into this approach and gives F5 an entry point into the fraud prevention market. The service is available now.