As Published on Chain Store Age, Feb. 12, 2020
An independent consumer electronics retailer is bolstering e-commerce security with artificial intelligence (AI).
Micro Center is leveraging the AI-driven Identity Trust Global Network fraud management solution from Kount. The solution’s user experience engine enables automated decisions and reduces manual reviews while providing flexibility to refine customer interaction policies. Linking 2.7 billion fraud signals per interaction, it is designed to establish a real-time level of trust for each identity behind every interaction, including payments, account creation, and login events.
In addition, the solution’s self-service analytics provide Micro Center with insight into customer behavior and trends to detect complex fraud and segment a customer base to personalize user experiences and model potential outcomes.
“By creating personalized user experiences with Kount’s Identity Trust Global Network, we were able to increase our online sales by more than 30%,” said Skip Myers, director of loss prevention at Micro Center. “Meanwhile, we dropped our chargeback rates by more than 75%, down to 0.21%. But, I cannot have the mindset that all I do is stop fraud. Fraud management has evolved to enabling us to increase the number of orders we accept, improving customer experiences, and building trust.”
Health-and-wellness retailer GNC Holdings Inc. is also deploying AI-based fraud prevention technology from Kount. GNC utilizes Kount’s supervised machine learning capabilities to help detect possibly fraudulent linkages and anomalies faster and better than human judgment alone.
Privately-owned Micro Center is based in Columbus, Ohio and operates 25 stores across the U.S.