INDUSTRY SPOTLIGHT: Kount - Combining AI machine learning to tackle fraud and identity theft • eCommerce Forum | Forum Events Ltd
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  • INDUSTRY SPOTLIGHT: Kount – Combining AI machine learning to tackle fraud and identity theft

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    “eCommerce purchases are expected to grow 10.4% in 20231. However, over £1.2 billion was stolen by criminals through authorised and unauthorised fraud in 2022, equivalent to over £2,300 every minute2.”

    The speed with which digital innovation has exploded presents new fraud challenges that require a fast and agile response. Businesses face dual pressures: innovate and deliver new revenue, while minimising losses from eCommerce fraud and chargebacks.

    Kount, an Equifax company, uses data driven decisions and decades of unrivalled fraud experience to solve complex identity and fraud issues for 15,000 merchants around the globe in almost every vertical.

    An effective identity and fraud solution must be able to address the challenges that are not only associated with a payment but across every customer touch point, from new account creation, preventing account takeover, promotional code abuse and more. Kount offers everything you need in one easy-to-use platform.

    With Kount you can:

    • Leverage Kount’s global data network to detect fraud as it emerges
    • Enable intelligent transaction routing strategy to create a frictionless experience for good customers whilst blocking or challenging potential fraudsters.
    • Create a customised fraud strategy to meet your specific business needs by combining AI machine learning with your bespoke business policies
    • Use global data intelligence to identify and implement acquired insights as well as spot new market opportunities

    Post payment Kount continues to protect merchants and stops ‘friendly fraud’ by preventing non fraudulent disputes progressing to a chargeback through instant communication with global Issuing banks thus saving the merchant from non recoverable monetary losses by the avoidance chargeback fees.

    From the Kount dashboard, clients can manage and automate disputes prevention in real time across the payment networks.

    Many businesses today are using multiple solution providers whereas Kount clients have access to a single point of contact to resolve their identity, fraud and chargeback related issues. One complete strategy to safeguards our clients so they can focus on revenue growth.

    For more information or to set up a demo, please visit our Kount website.

    1 Forbes, 2023

    2 Finance Org, 2022

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