Financial Services Veteran Robert Stock Joins Fraud Detection Firm Simility
Simility, which helps financial services and e-commerce organizations detect fraud, announced today that financial services veteran Robert “Bob” Stock has joined the company as Head of Global Business Development.
“Online fraud is a huge and growing problem that’s been vexing financial services and e-commerce companies for years, and has been exacerbated by the move to mobile,” said Stock. “What drew me to Simility is the elegance of its approach to fighting even the most sophisticated fraud. Simility is unique in its ability to be the ‘connective tissue’ enabling enterprises to combine diverse data feeds from across different business units and identify new fraud vectors as they emerge.”
Simility was founded by ex-Googlers who were frustrated at the poor-quality tools available for online fraud detection and prevention – so they built their own.
Simility co-founder and CEO Rahul Pangam said, “We know our solution is technically superior, and look forward to working with Bob to help get the word out about the value we bring to banks, financial services companies, payment service providers and e-commerce companies.”
Stock was most recently Head of Business Development for CA Technologies’ New Business Innovation Division, where he initiated strategic global partnerships while implementing solutions in authentication, mobile payments and security for banks and payment providers globally.
He has also held senior management roles at Intuit and Visa USA, where he served as Senior Vice President and Head of Consumer Credit and Commercial Products.
Simility launched its fraud detection platform in June 2016 after raising $7.2M in seed funding from top-tier investors including Accel Partners and Trinity Ventures.