Countless have attempted, but not everyone succeeds at starting and scaling a venture in today’s highly saturated and cut-throat world of business. Apart from the long list of logistical and financial challenges that often plague entrepreneurs, they must also contend with the fact that merely providing products and services wouldn’t be enough to survive in the face of the daunting degree of competition that exists in any industry. More often than not, it takes the ability to close a market gap and bring considerable value to the table for an entrepreneur to rise through the ranks. Dennis Weiss, the founder and CEO of acclaimed fraud prevention solution provider IPQualityScore, has managed not only to make a name for himself but also elevate his company, thanks to his commitment to detecting and countering fraud, as well as his innovative approach to addressing a problem that continues to affect individuals and companies.
Widely known for providing the most accurate and affordable real-time anti-fraud solutions in the market, IPQualityScore operates with the overarching goal of helping online businesses or organizations that deal with real-time users, payment collections, registration and application systems. Its establishment was fueled by its founder’s own experiences with fraud.
“I was motivated to start IPQS because I was a victim of fraud myself,” shared Dennis Weiss. “When I had my advertising company back in 2010, we had a cost-per-action affiliate network. So, it was extremely important for us to have high-quality lead gen info. Unfortunately, there was nothing out there, so we had to create our one proprietary technology to solve this problem.” That proprietary technology eventually stood at the core of a software that would later become the pillar of IPQualityScore.
Today, IPQualityScore offers a suite of fraud prevention tools that enable bot detection and user screening, preventing fake accounts, chargebacks, and malicious users without interrupting the user experience. In the time since its launch, it has succeeded in emerging as a leader in the fraud protection and prevention space because of the quality of its data. “At IPQS, we source our own data,” explained Dennis Weiss. “We have infiltrated fraud rings in the dark web and are pioneers in discovering new ways fraud is committed. As if that wasn’t enough, we also have honeypots or fake websites we’ve created as bait to catch fraud.”
Additionally, this brainchild of Dennis Weiss has earned the patronage of many clients due to the relentless attitude IPQualityScore has toward looking for innovative ways to better its tools and the ease with which users can wield the power of its tools. “We know it’s important to have a tool people are willing to use,” the highly accomplished founder added. “Otherwise, we could have the best tool in the world, but if people don’t know how to use it, or it’s a headache to implement, nobody will use it.”
Right now, Dennis Weiss is gearing to propel IPQualityScore to the summit of the industry. In five years, he hopes to see IPQS evolve into one of the must-have anti-fraud solutions in the market. On top of his plans of expanding the company and delving into the B2C space, he’s aiming to steer more ventures away from being victims of fraud.
Opinions expressed by CEO Weekly contributors are their own.
