CyberSecurity Breakthrough, a leading independent market intelligence organization that recognizes the top companies, technologies and products in the global information security market, today announced that Kount, the leading AI-driven fraud prevention solution, has been named the winner of the “e-Commerce Security Solution of the Year” award for the second year in a row, in the fourth annual CyberSecurity Breakthrough Awards program.
Kount’s Identity Trust Global Network combines trust and fraud signals from 32 billion annual interactions to block fraud in real time and enable personalized customer experiences. As one of the first companies to use both unsupervised and supervised machine learning to help prevent fraud, Kount uses next-generation adaptive AI technology to decrease chargebacks, manual reviews, and false positives, which ultimately improves operational efficiencies while lowering cost.
With less time spent on unnecessary reviews, fraud analysts can add value by contributing strategic recommendations gained through the deep intelligence from Kount’s self-service business analytics tool. Kount’s analytics help businesses pinpoint areas for improvement to enhance operational efficiencies, including customer experience, margins, and revenue. With Kount’s Identity Trust Global Network, merchants report achieving up to a 99% reduction in chargebacks, a 65% increase in operational efficiencies and an 83% reduction in manual reviews.
“Our Identity Trust Global Network has the ability to determine the level of trust behind every interaction, ultimately empowering organizations to unlock previously untapped revenue streams,” said Brad Wiskirchen, CEO, Kount. “With our adaptive, next-generation AI, businesses can make confident, strategic decisions for their companies, resulting in reduced false positives, reduced review time, reduced chargebacks, and increased fraud prevention. This 2020 CyberSecurity Breakthrough Award serves as a strong testament to the success of our approach and we are thrilled to accept this industry recognition.”
The mission of the CyberSecurity Breakthrough Awards is to honor excellence and recognize the innovation, hard work and success in a range of information security categories, including Cloud Security, Threat Detection, Risk Management, Fraud Prevention, Mobile Security, Email Security and many more. This year’s program attracted more than 3,750 nominations from over 20 different countries throughout the world.
“As e-commerce experiences skyrocketing growth this year as more and more consumers shop from home, fraud prevention must be a top priority for organizations to not only protect against fraudulent transactions but to enable better online shopping experiences,” said James Johnson, managing director, CyberSecurity Breakthrough. “Whether it’s payments fraud, account takeover fraud, loyalty fraud or friendly fraud, the impact on businesses goes well beyond financial loss – including poor customer experiences, reduced revenues and long-term brand reputation damage. Kount is delivering a breakthrough fraud prevention platform and for the second year in a row we are thrilled to be able recognize Kount’s achievements and innovation with our ‘e-Commerce Security Solution of the Year’ award.”
Kount upgrades fraud prevention with the largest network powered by data and intelligence from 9,000 digital businesses and payment providers linked by next-generation AI to deliver real-time identity trust decisions.
About CyberSecurity Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the CyberSecurity Breakthrough Awards program is devoted to honoring excellence in information security and cybersecurity technology companies, products and people. The CyberSecurity Breakthrough Awards provide a platform for public recognition around the achievements of breakthrough information security companies and products in categories including Cloud Security, Threat Detection, Risk Management, Fraud Prevention, Mobile Security, Web and Email Security, UTM, Firewall and more. For more information visit CyberSecurityBreakthrough.com.