Tackling Online Fraud
Fraud is an issue that affects every business differently, so we will never take a 'one-size-fits-all approach' to your needs. We can help you to address the needs of your fraud prevention strategy and can tailor appropriate solutions for your business.
Your eCommerce business and Financial Services institutions face challenges from rapidly evolving fraud attacks. As the development of payment devices, mobile platforms and customer demand for 24/7 global access increases, fraudsters inevitably expose the vulnerabilities inherent in rules-based systems.
Additionally, Card Not Present fraud is becoming an increasing threat, with online fraud increasing at 20% per year (Source: UK Cards Association).
In this dynamic fraud landscape, eCommerce merchants and financial institutions need a modern fraud management solution to catch new fraud types as attacks occur, and to reduce customer friction and improve business efficiency.
Adaptive Behavioral Analytics
Included in our fraud mitigation facilities is Featurespace's unique machine learning solution that monitors the real-time behavior of each individual customer and merchant, detecting anomalies to spot new fraud attacks at the moment they occur. Founded on applications of Bayesian maths, Adaptive Behavioral Analytics uses cutting-edge research in noise reduction and signal processing to understand the significance of individual behavioral changes.
Catch new fraud attacks, reduce false positives
eCommerce organizations have seen dramatic improvements, including:
70% reduction in genuine transactions declined
40% more fraud prevented
80% reduction in Card Not Present fraud
The Featurespace system is tried, tested and delivered, enabling organizations to make informed business risk decisions. Gain a truly adaptive, flexible approach to managing fraud and customer experience in real-time. Your merchant account provisioned by Compaynet will save costs and maximize your revenue growth by reducing false positives and declined transactions and will improve your operational efficiencies.
Taking a Strategic Approach
We will conduct an in-depth analysis of your business process and fraud rates, taking a strategic view of your fraud and data-security needs. Based on this assessment, we can offer a range of best practice methods and fraud detection technologies to help you:
Detect more fraud - Use our detailed fraud reports to highlight where your business is most vulnerable and the measures required to minimize losses.
Improve fraud screening - Set automated rules to approve or decline transactions more accurately. This can improve order rates by ensuring good orders are not delayed or declined by being incorrectly identified as fraudulent.
Reduce manual reviews - Simplify your fraud management with case management tools which can enhance the efficiency and productivity of your risk and fraud team.
We will regularly update our analysis of your fraud rates to identify new and changing threats. We will also discuss how your fraud and chargeback rates compare with others in your industry. Once we have a complete overview of your fraud exposure, we will work with you on a series of methods and tools to help meet your targets and identify further improvements.