Cybertonica appoints Chief Product Officer to deepen offer in Transaction Systems Security and Anti-Fraud

20 February 2018
Press Release

Olaf Hofmann appointed Cybeertonica chief product officerCybertonica, an Artificial Intelligence fraud management technology company which utilises Machine Learning to reduce basket drop-off and increase conversion for all transaction platforms, has appointed Olaf Hofmann as Chief Product Officer. The appointment coincides with Cybertonica’s shortlisting for the Best Data Analytics & Science Award at the Merchant Payments Ecosystem Awards 2018 in Berlin.

In his new role, Olaf Hofmann will be responsible for ensuring Cybertonica’s product strategy is aligned with Cybertonica’s vision of making transactions secure for consumers and businesses through applying AI and big data to create frictionless authentication.

Olaf has more than 15 years’ experience working in data analytics and insight leverage through B2B and B2C product development using decision engines, AI and data visualisation. He worked early on as a developer and project lead before moving into Agile Project Management. He built his methods while managing the architecture and development process up to the launch and growth of BSkyB’s mobile Sky Go application.

Olaf joins Cybertonica from HighQ where he worked as Senior Product Officer managing large, diverse teams in India, Europe and the UK. He piloted the successful release of multiple mobile and desktop applications and built a customisable dashboard component as a service to be used across the entire file-sharing and data analytics SaaS platform. This large-scale team and product build insight will inform his new role at Cybertonica as the execution lead on projects across EMEA.

Olaf Hofmann, Cybertonica’s Chief Product Officer, said:

“I joined Cybertonica after working with AI/ML and decision automation technologies over 8 years and delivering great products and solutions for customers in the Financial Services Industry. It is the amazing technology, team and vision of Cybertonica directed by its Co-founders Sergey Velts and Joshua Bower-Saul that made it so attractive for me to join the organisation.”

Joshua Bower-Saul, CEO and Co-founder of Cybertonica, commented:

“Olaf is a great addition to the core team at Cybertonica as we work to complete our offer by growing European team and in the UK HQ. Olaf brings huge experience implementing in the EU and global markets, working in AI for Financial Institutions is a great background that will serve Cybertonica well. Our aim is to offer the most effective and accurate PSD2 and GDPR compliant fraud management technology in the market today and future-proofed for tomorrow’s disruptions.”

Olaf Hofmann will be speaking at the Nextgenpos Track, AI & Machine Learning in Practice Session at Merchant Payments Ecosystem (MPE) conference on 21st February in Berlin.

About Cybertonica:

Cybertonica uses Machine Learning and Artificial Intelligence to reduce basket drop-off and increase conversion for all channels of e-payments and transaction platforms. The Company provides frictionless on-boarding, checkout and secure payments processing for e-commerce and digital banking. Cybertonica’s service increases conversion and sales by up to 25% while managing card-not-present and other categories of fraud at world-class compliant standards.

The Company was named as the Best New Back Office Innovation at the Emerging Payments Awards 2017, selected as one of the European FinTech 100 companies, and identified among the 2017 top cybersecurity AI companies by CB Insights.

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