Frequently Asked Questions
I've tried other fraud tools and had too many false positives. How is Kount different?
Managing false positives is a delicate balancing act. If your approach to fraud management is too conservative, you’ll decline good orders. But if your strategy is too lenient, you’ll damage your bottom line and jeopardize your reputation.
Kount has several features that level the playing field and help ensure the most accurate results possible.
False positives explained
A false positive occurs when a good transaction is mistakenly flagged as being fraudulent. As a result, the order is declined and the customer is turned away.
False positives can be an unfortunate consequence of fraud prevention techniques that are too cautious. With too many restrictions in place, it becomes increasingly difficult for good orders to make it past the fraud screening process.
Why false positives matter
In today’s economy, you can’t afford to turn away loyal customers or decline valid orders. Margins are tight, and you’ll need to accept as many good purchases as possible in order to turn a profit.
And revenue isn’t the only thing on the line.
False positives also pose significant risk to your company’s reputation. Customers want to encounter as little friction as possible when shopping online, and they’ll quickly abandon brands who make their checkout experience too difficult. In fact, 25% of Americans reported that they wouldn’t return to a website that turned down their valid purchase.
What’s more, a high decline rate can be a red flag for issuing banks. Reject too many orders, and they may start to deny your authorization requests for fear that you’re a high-risk business. In the end, you’ll be left with even more declined orders, disgruntled customers, and sacrificed revenue.
Kount's approach to false positives
We know false positives can be detrimental to your growing business. And if you’ve run into them in the past, you might be hesitant to try new fraud prevention tools.
But we also believe you shouldn’t have to choose between protecting your company from fraud and providing a good customer experience.
We’ve designed a strategy that can accurately distinguish the difference between fraudsters and valid customers — so you can approve good orders and decline fraudulent ones.
Here’s how we’re able to do this:
Kount was one of the first fraud management companies to enter the market. That means we have 15 years worth of data — a decade more than many other service providers. And as an Equifax® company, Kount benefits from data and insights dating back to 1899.
A longer history of service means Kount has the best understanding of risk and unparalleled insights on what should and shouldn’t be approved. And because Kount has such a significant database, you will have great results from day one. Clients don’t have to wait 60-90 days for data to accumulate. We already have everything you need to succeed.
Click here to learn more about our robust data.
Some fraud companies in the industry today incorporate supervised machine learning — which is the most basic capability — into their platform. But Kount utilizes both supervised and unsupervised machine learning. By combining multiple machine learning models, Kount has greater insights which lead to more accurate decisions.
Click here to learn more about our advanced machine learning.
Kount’s team is made up of professionals with dozens of years’ experience. We've seen what does and doesn’t work for merchants in hundreds of different industries all over the world.
And we will readily share those insights with you.
The goal is to help our clients continuously improve results by fine tuning their strategy as threats evolve over time.
Kount is a best-in-class technology platform. But automation doesn’t blindly dictate how your business should be run. You have full control over how decisions are made and the level of risk you are willing to accept.
Kount’s technology operates in real time. If false positives are detected, adjustments can instantly be made so you’ll immediately stop the threat.
Refund and chargeback data
By combining Kount and Midigator, the technology has even more data to reference. Adding post-transaction data (refunds and chargebacks) to pre-authorization filters will improve decision accuracy.
Learn more about the Kount + Midigator partnership.
Want to learn more about Kount's approach to false positives?
Schedule a call with our sales team to learn more about Kount's technology and how it can revolutionize your fraud management strategy. We'll review your current approach and offer suggestions on how to improve outcomes.