Leader in Adaptive AI-driven Fraud Prevention Ushers in New Era of Digital Fraud and Account Protection with the Identity Trust Global Network
Kount, the leading provider of digital fraud and cybersecurity solutions, has been named to Fast Company’s annual list of the World’s Most Innovative Companies for 2020. The prestigious list honors the businesses making the most profound impact on both industry and culture, showcasing a variety of ways to thrive in today’s fast-changing world. Kount was ranked in the Security category of 2020’s Most Innovative Companies List.
“At a time of increasing global volatility, this year’s list showcases the resilience and optimism of businesses across the world. These companies are applying creativity to solve challenges within their industries and far beyond,” said Fast Company senior editor Amy Farley, who oversaw the issue with deputy editor David Lidsky.
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Kount’s commitment to innovation is apparent in its work to prevent digital fraud over the past 13 years, with new advancements in recent months. Most recently, Kount unveiled the Identity Trust Global Network, a new approach that flips the script on fraud management from just blocking bad transactions to empowering companies to unlock previously untapped revenue streams through delivering personalized user experiences. The Network links 2.7 billion fraud signals per interaction in real-time, enabling businesses to automate their fraud prevention decisions, thereby reducing manual review. Companies using the Identity Trust Global Network have reduced chargebacks (up to 99% reduction), increased operational efficiencies (by up to 65%), reduced manual fraud reviews (up to 83% reduction) and decreased false positives (by up to 70%).
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The Identity Trust Global Network follows a year of innovation. In June 2019, the company unveiled a next-generation fraud prevention solution powered by AI technology that emulates the decision process of a seasoned fraud analyst with a response rate of less than 250 milliseconds. Shortly after, Kount was awarded three patents in user verification and authentication technology, bringing the company’s total number of patents to more than 30, again showcasing its commitment to pushing the industry forward through innovation. This was followed by the introduction of Kount’s Friendly Fraud Prevention Solution, the industry’s first complete solution to quickly and accurately identify both criminal and friendly fraud, an emerging trend in digital retail.
“We’re excited to be included on such a prestigious list among so many innovative companies,” said Brad Wiskirchen, CEO of Kount. “Innovation is in our DNA, and we always strive to push the envelope and develop new technologies that keep our customers one step ahead of bad actors and the ever-evolving fraud curve.”
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