Synthetic fraud is not a commonplace term. In fact, a lot of Americans have probably not even heard of it, much less care to know what it is. However, synthetic fraud is a significant problem that financial institutions and government agencies face. Synthetic fraud is a type of identity theft in which a fraudster combines real and fake information to create a hybrid identity. This new, fake identity is then used to create accounts, make purchases, and in some cases, pose as fraud victims to receive more credit.

How can synthetic identity theft be stopped? Past methods were insufficient, so Maxwell Blumenfeld, 28, and Naftali Harris, 27, created SentiLink. SentiLink is an application programming interface (API) that helps combat synthetic fraud by identifying fake people during the application process and preventing them from hurting the user’s institution or agency. The security program works by evaluating application using the personal information supplied (name, DOB, SSN) and creating a score between 0-1000 that points to the level of risk of synthetic fraud. SentiLink uses industry knowledge and a patent-pending “soft-clustering” technology to detect fraud by discovering statistical anomalies. It is extremely safe for clients to use. Security audits, vulnerability scans, and penetration tests are conducted regularly to ensure compliance. The program is also compliant with EI3PA, SOC-2, and PCI.

Prior to the creation of SentiLink, Blumenfield and Harris worked at on online lender. At this job, they experienced synthetic fraud firsthand. These two men showed great entrepreneurial spirit by choosing to solve a problem that they personally have dealt with and know, in and out. They amassed engineers, data scientists, and risk analysts to create their service. Blumenfield and Harris have created a more progressive work environment: along with normal benefits and retirement contributions, employees have unlimited PTO. The team also strives to create a culture of flexibility and creativity; lunch is free and the company often hosts team activities such as scuba diving and go-karting. With the creation of SentiLink, Blumenfield and Harris have made a name for themselves in their industry at a very young age.

Let’s face it – most Americans have a sweet tooth. What’s not to like about candy? However, what most people don’t realize, or choose to ignore, is the fact that excess sugar is one of the unhealthiest things a person can eat. Since this problem has been identified, weak attempts at a solution have been created. No significant solution has emerged until now, with Tara Bosch’s “SmartSweets”.

SmartSweets is a candy company that creates traditional sweets and candies that everyone knows and loves without the traditional use of sugar. As a replacement, Bosch sells candy made with plant-based fibers and plant-based sweeteners to replace things such as corn syrup. Before her founding of SmartSweets, Bosch was a self-proclaimed sugar addict. On the company’s website, she states that she herself has “experienced the negative effects excess sugar has on our health”. It is clear that, by experiencing this problem firsthand, she understands the need and will be the most inclined to solve it in the best way possible. From that, Bosch began experimenting with plant-based candy. Eventually, she found a recipe that worked.

After creating her recipe, she began selling out of her car and cold-emailing Canadian retailers. While her product was selling in Canada, Whole Foods reached out to her. This contact led to a full U.S. distribution with the retailer. Today, she sells at over 18,000 locations around North America.

With the creation of SmartSweets, Bosch has shown an exemplary entrepreneurial mindset. She identified a clear need in an industry overrun with problems that has existed for a very long time. By solving this need (and being one of the few to do so), she had an potential consumer market instantaneously. It will be fascinating to see what direction she will lead her business to in the future. Her goal, to “keep candy and kick the sugar”, has sure come to fruition.