Identity fraud spiked 148% in 2025 as AI democratized identity fabrication. Financial institutions now face a fundamental question: Are you dealing with a real human? Heka Global is addressing this with web intelligence—analyzing digital footprints like connected applications rather than traditional signals. In this episode of BUILDERS, I sat down with Idan Bar-Dov, Co-Founder & CEO of Heka Global, to explore how his company created a fourth layer in the anti-fraud stack and why legacy identity verification systems are becoming liabilities rather than assets. Topics Discussed: The emergence of "fraud as a service" and why consumer-facing attacks replaced traditional enterprise breaches How web intelligence works: validating identity through connected applications and digital footprints The anti-fraud tech stack: credit bureaus, biometrics, transaction analytics, and web intelligence as distinct layers Why heads of fraud expand budgets rather than replace vendors, and what causes solutions to get kicked out The partnership sales model: navigating vendor management complexity and red tape in financial institutions Why 10-person dinners and fraud simulations outperform traditional enterprise marketing How Barclays and Cornerback backing solved the chicken-and-egg problem for a data product Why specific fraud prevention messaging (account takeover, synthetic identities) beat investor credibility GTM Lessons For B2B Founders: Target ICP based on liability exposure, not just industry fit: Heka narrowed beyond "financial institutions" to lenders who bear immediate losses from fraud—companies like LendingPoint, Avant, and Upstart. These buyers feel the pain acutely versus institutions with reimbursement terms who can deflect liability. Idan's insight: "We need the client to feel the pain just as much as we see it. That means we want them to see the liability." Frame your product as a new stack layer, not a competitive replacement: Heka positioned web intelligence as the fourth distinct layer after credit bureaus, biometrics, and transaction analytics. This became their second pitch deck slide, showing logos of each category. The result: buyers stopped comparing Heka to existing vendors and started evaluating complementary value. Abandon spray-and-pray for sub-1,000 TAM markets: Heka tested Lemlist flows with targeted LLM personalization and saw zero pipeline from it. Idan's take: "When you're selling to maybe a thousand financial institutions, that's it. You can be super specific when you target them." For enterprise plays with small addressable markets, allocate zero budget to automated outbound. Focus entirely on warm introductions, relationship nurturing, and becoming known to every relevant buyer through content and community.Leverage investor networks to break data product cold-starts: Data products face a critical barrier—you need customer data to prove value, but need proven value to get customers. Heka solved this by bringing on Barclays and Cornerback as investors who vouched for the team's capability to "do magic and create a new layer." Their backing convinced risk-averse financial institutions to pilot. // Sponsors: Front Lines — We help B2B tech companies launch, manage, and grow podcasts that drive demand, awareness, and thought leadership. www.FrontLines.io The Global Talent Co. — We help tech startups find, vet, hire, pay, and retain amazing marketing talent that costs 50-70% less than the US & Europe. www.GlobalTalent.co // Don't Miss: New Podcast Series — How I Hire Senior GTM leaders share the tactical hiring frameworks they use to build winning revenue teams. Hosted by Andy Mowat, who scaled 4 unicorns from $10M to $100M+ ARR and launched Whispered to help executives find their next role. Subscribe here: https://open.spotify.com/show/53yCHlPfLSMFimtv0riPyM