Eftsure Launches Anti-Fraud Services In US, Names Jon Soldan Global CEO

Payment protection solution Eftsure has introduced its services to the U.S. market amid rising scam losses and increased cyber threats driven by artificial intelligence (AI). Headquartered in Australia, the company has also appointed Jon Soldan as global chief executive officer (CEO) to enhance its efforts in combating digital fraud and scams. Sydney-based co-founder and CEO Mark Chazan will continue to lead operations in Australia and New Zealand.

During his tenure, Chazan has overseen a 130% compound annual growth rate (CAGR) for Eftsure, which has been recognised among the Australian Financial Review’s 50 fastest-growing companies. "Since Eftsure’s inception, we’ve amassed a unique and growing database containing several million verified vendors and have saved companies hundreds of millions of dollars in thwarted fraud attempts," says Chazan.

Eftsure protects hundreds of billions of dollars in business payments across Australia and New Zealand annually. The U.S. market, being heavily targeted by cybercriminals, necessitates defensive solutions now more than ever. "Businesses need defensive solutions now, so we want to export what we already do successfully in Australia," Chazan adds.

Soldan, based in Salt Lake City, Utah, brings extensive experience as a technology executive. He has led teams across various organisations and delivered record growth periods at both large enterprises and startups, including Oracle, Entrata, HealthEquity, and Slingshot Technology. Most recently, he served as SVP and GM at real estate software company RealPage.

"The rise of cybercrime is a problem felt by businesses all over the world, and it is an even bigger issue in heavily targeted countries like the U.S. It is exciting to join such a great team and company, backed by incredible investors (LevelEquity). We are solving very real and urgent problems facing businesses around the world. Eftsure’s solution is unique and affordable to customers of all sizes," says Soldan.

According to 2023 threat reports from Microsoft and Trend Micro, the United States and Australia are consistently ranked among the most targeted countries for cybercrime. The Federal Bureau of Investigation (FBI) estimates that $50 billion is lost to domestic and international business email compromise (BEC) scams – one of the fraud risks that Eftsure’s payment protection platform helps mitigate.

About Eftsure

Eftsure is a global leader in payment fraud prevention. Specifically designed for businesses, its end-to-end solution safeguarded more than AUD $216 billion in B2B payments last year. The company's mission is to build a safer business community through a large and continuously growing database of verified vendor details. Using multi-factor verification, Eftsure provides businesses with greater knowledge and control over onboarding vendors, receiving invoices, and making payments.

By ensuring that customers never pay the wrong people, Eftsure aims to significantly reduce the risk of payment fraud for businesses worldwide.