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RiskSeal vs. SEON. An In-depth Comparison for Risk Managers

Compare RiskSeal and SEON digital scoring systems and choose the best option for your business goals.

Anastasiya Shitikova
Marketing Manager @RiskSeal
Table of contents

The modern market offers financial organizations many solutions for assessing credit risk and identification of valuable clients.  

FinTech organizations are searching for scoring solutions that best fit their needs. They evaluate options based on features, cost, and terms. 

Using relevant data as of March 2024, we will objectively compare RiskSeal with SEON. We’ll identify their pros and cons, differences, and similarities.

We’ve created this comparison for risk managers in the digital lending field. So we chose our comparison criteria based on what's important for risk managers, our target audience. 

RiskSeal: main insights

RiskSeal is a powerful AI-based SaaS scoring system that offers digital lenders over 300 alternative data signals obtained by analyzing borrowers' digital footprints.

Enriching scoring models with non-traditional data allows RiskSeal's clients to:

  • Expand the customer base. Using alternative data sources, lenders can identify creditworthy customers among those lacking a credit history. 
  • Reduce loan default rates. With RiskSeal, lenders can enhance risk profiling and predict defaults using advanced analytics and behavioral data.
  • Speed up the processing of loan applications. We achieve this by decision process automation eliminating manual work. 

With RiskSeal, you will have access to real-time creditworthiness checks, digital identity verification, and a digital scoring system.

The solution easily scales according to your needs and supports seamless integration with external services.

SEON: main insights

SEON is a comprehensive system that utilizes a full suite of tools to detect and combat fraud. It provides detailed user verification through real-time digital tracking, analysis of phones, email addresses, IP addresses, and device fingerprinting.

Using the system allows you to:

  • Increase risk forecasting reliability. This is possible through the use of advanced machine learning and enhanced analytics.
  • Increase the speed of fraud detection. Accelerating this process occurs through real-time data processing.
  • Process various types of data. The system can analyze a wide variety of data to meet the needs of any business.
  • Adapt to new attacks. SEON offers flexible data processing, which helps combat specific fraud threats.

SEON features a user-friendly graphical interface and extensive integration capabilities. The tool also lets you create multiple accounts with different permission levels for collaborative work.

RiskSeal and SEON advantages and disadvantages

RiskSeal SEON
Advantages
  • Instant Digital Credit Scoring solution
  • Digital footprint analysis
  • Advanced algorithms for assessing unbanked people
  • Access to user information, photo matching, name intelligence
  • Use of credit ratings
  • Digital footprint lookups
  • AML monitoring
  • Fraud prevention tools
  • Device fingerprinting
  • Disadvantages
  • No free version
  • Exclusive to fintech providers
  • Generic solution
  • Focus on online fraud
  • No smart behavior insights on a customer profile
  • Lack of useful insights, for example, photo matching and name intelligence
  • Feature comparison

    Modern solutions for credit scoring offer users a variety of capabilities. Let's compare the functionalities of RiskSeal and SEON.

    Features RiskSeal SEON
    Digital Credit Score Yes No
    Photo matching Yes No
    Name Intelligence Yes No
    Location Insights Yes No
    Behavioral metrics Yes No
    Risk analysis Yes Yes
    Trust / Fraud score Yes Yes
    Email data enrichment Yes Yes
    Email address analysis Yes Yes, limited
    Phone data enrichment Yes Yes
    User social media search Yes Yes
    IP analysis Yes Yes

    Customer support comparison

    Customer support is essential to successful collaboration between a vendor and a company. 

    Next, you can compare what RiskSeal and SEON offer here.

    Indicator RiskSeal SEON
    Support in applying the data to the decision-making process Yes No
    Personal approach Yes No

    Cost comparison

    The cost of the solution is another criterion that plays a significant role in its selection.

    Indicator RiskSeal SEON
    Cost per month Two pricing plans - Basic for $499/mo Custom - favorable pricing terms for a high volume of transactions Two pricing plans - Starter – €599 / month Premium – custom price
    Free trial Yes Yes
    Free integration Yes Yes
    Free support Yes Yes

    Key distinction: RiskSeal vs. SEON

    The main difference between us is that RiskSeal is strictly intended for lending organizations. 

    Digital lenders can expand their target audience by providing loans to unbanked and underbanked individuals. It also allows for more informed decision-making on credit applications and default reduction.

    SEON is a generic anti-fraud solution that helps process various types of information. It is well-suited for eCommerce organizations.

    How to make the right choice? 

    Both RiskSeal and SEON deserve your attention. They are based on advanced technologies, including Machine Learning, which enables automation of decision processes.

    The choice between them should be based on the specifics of your company. 

    If you are a lending organization, RiskSeal is suitable for you. It will help improve scoring, maximize the use of digital footprints for your scorecards, and utilize alternative data for customer evaluation.

    If your business requires a fraud prevention solution, opt for SEON. The tool is flexible and fully supports fraud detection needs.

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