CNP Awards Finalist Best Overall Fraud/Security Solution Nominee - Kount
Before Kount had its name or business model, its mission was clear--create a comprehensive, integrated fraud-fighting solution for an e-commerce leader in e-books and software distribution. That company was ClickBank, now Kount’s sister business under parent company Keynetics and one of its many customers. As Kount’s comprehensive solution enabled ClickBank to sell more with less risk, it was clear to the team that a far-reaching spectrum of clients operating in card-not-present environments could substantially benefit from Kount’s solution.
While many merchants deploy “build-your-own” solutions that include several tools from numerous vendors, Kount’s technology is fully owned and integrated into a single anti-fraud platform comprising the company’s patented core technologies. Foundational tools such as proxy piercing, dynamic scoring and device fingerprinting continue to evolve as the company continually adapts in real-time to thwart the latest fraud techniques.
Kount Complete delivers customized risk assessments on e-commerce transactions in real time. The company believes it outperforms the competition in a number of key areas:
- implementation in days versus months
- More accurate and consistent risk scoring because it weighs variables against a single standard rather than balancing several scoring methodologies from disparate vendors
- Clients see positive ROI sooner since Kount owns its technology and doesn’t mark up other’s products
- Its integrated solution offers substantially increased speed over systems with multiple vendors, translating into no noticeable lag time for customers making a purchase
- Kount has patents on numerous fraud-fighting tools in standard use today
For every transaction, Kount collects and analyzes factors like customer behavior, device used, proxy presence, geolocation and others creating a standardized risk score. The score is fed into Kount’s proprietary decisioning engine that applies general and merchant-specific rules to each transaction in real time (averaging just 350 milliseconds) to recommend approval, decline or a request for additional review.
When a transaction is tagged for additional review, Kount applies its AutoAgent first to automate many of the functions performed in manual review, saving clients more time and resources. This process takes an average of 1-3 seconds.
If manual review is required, all merchant-supplied data, third party information, and Kount Risk Score information is available in a single-view and the Workflow Queue Manager directs the inquiry to the most appropriate agent. Kount says its platform can reduce reviews to less than two percent of all transactions.Kount also is able to differentiate itself by how it acts after a transaction is scored.
“Most other services will do a risk assessment, provide a score or some feedback and they’re done,” says Kount COO Steve Rouse. “With Kount, we’ll see an order today that leads us to give a low risk score. Then, we’ll continue to monitor the order for several days and if we see activity from that particular consumer that causes us to be concerned, we’ll rescore and alert the merchant that the score has changed. A retailer could actually pull that product off the truck before it fulfills the order.”
From its origin as an integrated fraud solution for its sister business, Kount now reviews hundreds of millions of transactions daily while providing maximum risk protection for some of the world’s best-known brand.
By D.J. Murphy, Editor-in-Chief