As published in PYMNTS, March 17, 2020
With a new solution announced Tuesday (March 17), identity trust and digital fraud protection firm Kount seeks to help people avoid the pitfalls and annoyances of account takeover fraud.
Called Kount Control, it is an “adaptive protection solution” that will evaluate user behavior and device activity to try and assess when activity on a platform is suspicious and could be a takeover attempt, according to an emailed company statement.
That includes everything from bots, credential stuffing and malicious, intentional human hacking activity.
The program will work to determine when a login attempt is coming from an illicit account and then also determine the action that should be taken: should the account be allowed, declined or confronted with authentication confirmation checkpoints?
Kount Control, according to the release, will attempt to alleviate frustrations over such issues, such as misidentifying users as fraudulent, by including specific customizing options like the ability to classify people as VIP users or trial users, and data sets to hopefully get rid of misunderstandings. Some of the data sets will include user type, device specifics, IP risk, geolocation and custom data.
The inclusion of elements like device and IP information, not always available to fraud teams, will help Kount Control be viable in dealing with fraud threats, as well as hopefully inform future efforts to stop fraud, the release stated.
CEO Brad Wiskirchen said the fact that account takeover fraud has shot up 78 percent in the last several years has outlined the need for such technology. Wiskirchen touted his company’s “adaptive and customizable” traits that would fight fraud while also letting users have seamless experiences as reasons why Kount Control would work.
Kount also recently set up the Identity Trust Global Network, which attempts to build a large database to help clear up fraud issues in the future. The firm boasts that the network decreases false-positive rates by 50 percent and connects billions of signals in real time.