The startup offers an online finance platform that enables research businesses to manage and compensate participants securely without collecting sensitive bank account information. By providing instant payment receipts, the platform allows researchers to streamline participant rewards, minimizing administrative burdens and enhancing focus on their research activities.
Funding
$400K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Market research firms face challenges in efficiently managing participant compensation while ensuring data security and regulatory compliance, particularly with GDPR requirements for handling sensitive bank details. Traditional methods involving manual data collection and payment processing are time-consuming, prone to errors, and increase the risk of fraud and data breaches.
Solution
Ayda provides a ResOps (Research Operations) platform that streamlines participant management and compensation for research businesses, ensuring data quality and integrity. The platform's core product, AydaPay, enables direct-to-bank payments to participants in 52 countries, eliminating the need to collect and store sensitive bank details. AydaTrust, an integrated anti-fraud solution, leverages machine learning to analyze participant data and identify potentially fraudulent individuals before they are invited to studies. By automating incentive distribution and fraud detection, Ayda helps research firms save time, reduce administrative burdens, and improve the trustworthiness of their research data.
Target Audience
The primary target audience includes market research firms, research agencies, and research operations teams seeking to streamline participant compensation, improve data security, and reduce the risk of fraud.
Features
- AydaPay: Direct-to-bank payments to participants in 52 countries in GBP, EUR, and USD.
- AydaTrust: AI-driven fraud detection using anonymized, aggregated participant data to generate a Trust Score.
- Supports multiple incentive types, including direct-to-bank payments, PayPal, and vouchers for 500+ retailers and charities.
- Real-time notifications to participants when incentives are available.
- Participant self-service portal for claiming incentives.
- Comprehensive reporting for payment reconciliation and auditing.
- RESTful API secured by OAUTH2 for integration with existing systems.
- GDPR compliance with bank-level security for data collection, retention, and storage.