Sift, the leader in Digital Trust & Safety, announced that Kris Nagel has joined the company as CEO. Nagel’s appointment at Sift comes as the company concluded a year of strong customer growth, strengthened the leadership team, and released several new capabilities designed to improve efficiency, data connectivity, and decision-making for fraud fighters.
Nagel brings more than 30 years of experience in senior leadership positions at venture-backed and public SaaS companies from pre-revenue to $4.5B in annual sales, and from early funding to in excess of $10B in market capitalization. He most recently served as the Chief Operating Officer at identity security platform Ping Identity, where he played a critical role in taking the company public in 2019. Prior to Ping Identity, Nagel was CEO of Vindicia, an Amdocs, Ltd. Company.
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“For the internet to work for all of us—especially businesses and consumers—there must be a foundation of trust,” said Nagel. “Sift set the standard for establishing trust between business and consumers more than a decade ago when it applied machine learning to combat fraud and accelerate revenue conversion. We now offer a true platform to prevent fraud from login to post-purchase, while ensuring legitimate customers aren’t treated like criminals. Sift has so much opportunity to further expand our platform, partner with our customers, and amplify our growth.”
As Sift has expanded its offerings, 2022 showed that fraudsters have no intention of slowing down their efforts to steal from businesses and consumers. In fact, rates of account takeover attacks ballooned 131% during the first half of the year and spiked again ahead of the holiday shopping season.
SOURCE: GlobeNewswire