As published on TechnologyMagazine July 9, 2020
Kount’s best-in-class fraud prevention solutions protect the digital innovations of over 6,500 brands globally. We have earned recognition as the market leader in digital fraud prevention, with over 12 years of data informing our advanced ML/AI models. This patented technology prevents digital payments fraud, new account fraud, and account takeovers to increase revenue for digital businesses, acquiring banks, and payment service providers. The company protects digital innovations for 6,500 global brands.
Product Overview:
- Kount eCommerce Fraud Prevention – Kount’s AI-driven fraud protection solution is trusted by more than 6,500 companies to reduce digital payments fraud, protect against chargebacks, and deliver personalized customer experiences.
- Kount Account Takeover Protection – Kount Account Takeover Protection combines three key layers to deliver adaptive protection against the latest account takeover attacks, policy customization to fine-tune protection, and reporting/data presentation to uncover trends. It reduces false positives, enables customized user experiences, and reveals trends that enrich custom data.
- Kount Partner Central – For online payment service providers, acquiring banks and Payment Facilitators (PayFacs), Kount Central protects payment processors and their merchant portfolios from digital payment fraud. It is a comprehensive fraud prevention suite that enables you to provide payment or transaction services for merchants anywhere in the world.
Kount against e-gift card fraud:
eGift cards have the highest fraud attempt rates because purchases made with eGift cards are difficult to track. Most organizations lack systems to prevent fraud as fast as the cards are stolen. eGift card fraud can impact your business and result in chargebacks, operational costs, and dollar losses from stolen goods and services, as well as impact to brand reputation.
eGift cards can be fraudulently obtained in many ways. Credit cards can be stolen, accounts can be compromised, and legitimate customers can get pulled into unsuspecting fraud schemes. Kount identifies high risk devices, or high-volume activity from a small number of devices, indicates the relationship between email reputation, age, and history, as well as physical identity attributes, combines supervised and unsupervised machine learning to generate a score that indicates risk or unusual activity and can be built around desired business outcomes, such as special event promotions and tracking shipping details.
Kount and Webjet:
Webjet, Australia and New Zealand’s leading online travel agency, takes great pride in their leading online travel tools and technology. However, they became interested in Kount’s services to help spot and adapt to fraud changes and assist in the shift from desktop to mobile app bookings. Since its implementation, Kount has dramatically reduced Webjet’s chargebacks and manual reviews, bringing their chargeback percentage 98.4% lower than the industry average. This drop in number of chargebacks and manual reviews has allowed Webjet to auto-accept a much higher number of orders and reduce the number of bookings flagged for review.