The Future of Digital Fraud Prevention Is Establishing Real-Time Identity Trust to Deliver Personalized User Experiences While Reducing False Positives and Manual Reviews

Kount, the leading AI-driven fraud prevention solution, today unveiled its Identity Trust Global Network, flipping the script on fraud management from just blocking bad transactions to empowering organizations to unlock previously untapped revenue streams through delivering personalized user experiences. Identity Trust is the ability to establish a real-time level of trust for each identity behind every interaction, including payments, account creation, and login events.

“From a website visit to login, checkout or account creation, Kount’s Identity Trust Global Network goes to work analyzing billions of identifiers to establish trust in real-time.”

 

With new advancements to Kount’s award-winning artificial intelligence including a new architecture that further slashes false positive rates in half, Kount links 2.7 billion fraud signals per interaction in real-time. This ultimately enables businesses to create customized user experiences and automate their fraud prevention decisions, reducing manual reviews.

“The fraud prevention industry is changing, and the future is in establishing trust in order to create a personalized experience,” says Jordan McKee, Research Director at 451 Research. “To this end, merchants must reimagine their approaches to fraud. Solutions such as Kount’s Identity Trust Global Network go beyond machine learning or rules, offering an identity trust data network, advanced AI, and a user experience engine. Businesses that are able to make dynamic decisions based on the level of trust in a users’ identity will be at a significant advantage in the years ahead.”

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Kount’s Identity Trust Global Network provides adaptive fraud prevention through award-winning AI that links identity trust data. Comprised of the largest network of trust and fraud signals, Kount’s data is built over 13+ years, and spans 75+ industries, 250+ countries and territories, 32 billion annual interactions, and more than 6,500 customers. Using unsupervised and supervised machine learning, Kount’s solution delivers accurate identity trust decisions in milliseconds, customized to the business’ ideal outcomes.

The User Experience Engine enables automated decisions and reduces manual reviews on one side, while on the other allowing the flexibility and control to refine policies that result in higher sales conversion, more customer retention, and help build brand reputation. When high trust is present, businesses can provide customers with a VIP experience. Conversely, low trust leads to a blocked transaction, and in between, lies adaptive friction and step-up authentication.

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With Kount’s new Identity Trust Global Network, companies report achieving up to:

• 99% reduction in chargebacks
• 65% increase in operational efficiencies
• 83% reduction in manual reviews
• 70% decrease in false positives

Further, Kount’s self-service analytics provide in-depth insight into customer behavior and trends to detect complex fraud and segment a customer base to personalize user experiences and model potential outcomes. Microcenter, a leading computer and electronic retailer, transformed their electronic retail experience by employing the Identity Trust Global Network.

“By creating personalized user experiences with Kount’s Identity Trust Global Network, we were able to increase our online sales by more than 30%,” said Skip Myers, Director of Loss Prevention at Microcenter. “Meanwhile, we dropped our chargeback rates by more than 75%, down to 0.21%. But, I cannot have the mindset that all I do is stop fraud. Fraud management has evolved to enabling us to increase the number of orders we accept, improving customer experiences, and building trust.”

“With the largest network of trust and fraud signals combined with adaptive AI and ML, Kount’s Identity Trust Global Network uncovers the appropriate level of trust behind interactions where other solutions often miss fraud, create false positives or unnecessary friction due to limited datasets and lack of real-time AI,” said Brad Wiskirchen, CEO, Kount. “From a website visit to login, checkout or account creation, Kount’s Identity Trust Global Network goes to work analyzing billions of identifiers to establish trust in real-time.”

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