Conduit provides a software platform that implements technical controls to ensure secure payment processes, significantly reducing the risk of wire fraud. By enforcing verification procedures and maintaining an audit trail, Conduit helps organizations protect their assets from social engineering attacks that often lead to financial losses.
Funding
Funding not disclosed
Founders
Product
Problem
Organizations face a growing threat from wire fraud and social engineering attacks, leading to significant financial losses despite existing security awareness programs and documented procedures. Cyber insurance often provides inadequate coverage for these types of losses, leaving victims bearing the full financial burden.
Solution
Conduit offers a software platform that implements technical controls to secure payment processes and mitigate the risk of wire fraud. The application ensures that teams follow established verification procedures for every payment, providing confidence and support during the high-stakes task of moving funds. By enforcing these controls, Conduit helps organizations maintain operational pace while safeguarding their assets against fraudulent activities. The platform also provides an audit trail, allowing executives to review verification procedures and confirm adherence to security protocols.
Target Audience
Conduit primarily targets fund managers, hedge funds, family offices, and real estate development firms that handle high transaction volumes and are at increased risk of wire fraud.
Features
- Implements technical controls to enforce payment verification procedures.
- Provides an audit trail for executive review of payment processes.
- Supports staff by ensuring consistent adherence to security protocols.
- Offers a dashboard for monitoring and managing payment verifications.
- Includes functionality for verification calls to confirm payment details.