Anti-fraud startup reaps WIC fruits

Tongdun Technology using AI to help firms fight internet fraudsters

Since the first World Internet Conference was held in Wuzhen water town in 2014, Zhejiang province has spared no efforts in developing its digital economy centered on the internet. For instance, in the first three quarters of 2018, the province's value added in major digital industries reached 385.6 billion yuan ($55.71 billion), up 14.8 percent year-on-year.

As a Fintech startup participating in the Wuzhen conference for the third time, Tongdun Technology has experienced robust growth in step with the WIC, according to its CEO and co-founder Jiang Tao. A Hangzhou-based service provider of intelligent risk management, Tongdun Technology uses artificial intelligence (AI) and big-data analytics to help financial institutions and internet companies combat internet fraud.