As published in Chain Store Age, By Dan Berthiaume – 11/06/2019
GNC Holdings Inc. is applying artificial intelligence (AI) to prevent fraud across channels.
The health-and-wellness retailer is deploying AI-based technology from fraud prevention provider Kount to set risk thresholds with the goals of increasing approval rates, as well as reducing fraud losses and lowering operational costs. GNC is strengthening its enterprise security as it implements omnichannel features such as expanded online access to more products, buy-online-pickup-in-store (BOPIS), and ship-to-store
To assist in these efforts, GNC conducted a thorough competitive analysis, which determined Kount offered the most agile, advanced digital fraud prevention solution on the market. The AI-based solution leverages supervised machine learning to consider historic data based on its network of billions of transactions over multiple payment networks, which is combined with unsupervised machine learning to detect linkages and anomalies faster and better than human judgment alone. GNC will set customizable controls.
“The customer is at the core of everything we do at GNC,” said Tricia Tolivar, CFO, GNC. “We selected Kount because their technology delivers the flexibility and speed we need to rapidly expand our commerce initiatives with confidence. They’re a committed partner, guiding us through the process from implementation through transition and full deployment – all of which allows us to continue to best serve our customers while reducing fraud losses.”