As the retail landscape has evolved and ecosystems become increasingly digital, Brooks business expanded its revenue channels and adopted ecommerce. Of course, alongside rapid growth came a rising threat of fraud, specifically, fraudulent websites stealing credit card information from unsuspecting customers and using the Brooks website as part of a drop-shipping scheme.
The chargebacks that ensued threatened Brooks’ ability to process cards from key issuers. While the fraud prevention team were quick to react to new evidence of fraud, there was a growing awareness that they needed technology to stay ahead of fraudsters.
In its hunt for a technology partner, Brooks partnered up with Kount, an Equifax company, to establish an AI-driven, all-in-one fraud detection strategy. The platform’s data analysis capabilities and automation enabled Brooks to reduce its chargeback rate by 92%, eliminating the threat of card processing fraud monitoring programmes while accepting more good orders.
Although no one likes to be dragged through a convoluted string of security procedures, there is a consensus that online spaces require another layer of assurance. On-premises and online experiences can’t be like-for-like – nor should they be. By bringing in a degree of friction, Brooks was able to maintain the high standards it set for itself more than a hundred years prior.
With chargebacks under control, and a dramatic reduction in time spent carrying out manual reviews, Brooks started to focus on new overseas markets and was able to accept international credit cards. Kount’s technology solution allowed Brooks to achieve the right balance between automation and customisation, minimising fraud without creating too much friction or fallout for legitimate customers.
The advantages of Kount fraud protection technology are much more nuanced than simply driving more customers to a website and getting them to return more often. Kount is a single point of contact to resolve identity, fraud and chargeback related issues.
For more information or to set up a demo, please visit our Kount website.
