Kount Online-Mobile Fraud Prevention01-Oct-2013
Supervised Machine Learning, a subset of artificial intelligence, is an important piece of the fraud fighting capability of Kount, a top provider of protection for card-not-present (CNP) merchants since 2007. Over the last two years the company's client base, which includes small merchants and top 10 Web sellers, has grown by more than 400%, helped by the fact that Kount has an all-in-one platform for risk-based scoring.
Chase Paymentech, the top U.S. acquirer for CNP merchants, offers its clients Kount's technology on a white-label basis under the Safetech product name. Braintree, GlobalCollect, Magento, LexisNexis, and MaxiPago are also Kount clients. International transactions now account for nearly 25% of Kount's business.
Kount can provide all of its fraud fighting capabilities to merchants wanting protection for sales originating from smartphones and tablet devices. A specific mobile software development kit is available. Two-factor authentication using a PIN is part of the solution.
Kount delivers a full transaction review including a fraud score within 250 to 350 milliseconds for payments, account creation, and account takeover. It can function that quickly because all of the hundreds of variables it checks are captured and analyzed using patented fraud fighting technologies that were developed in-house and were designed to work together. It doesn't use any outside technologies. Users of Kount's end-to-end platform also have access to strategy and operational management layers and business intelligence features.
The company is a wholly owned subsidiary of privately held Keynetics. Its intellectual property portfolio of 14 patents covers Web commerce, money transfers, social networks, marketing, proxy piercing, and fraud controls. Kount was the first company to receive a patent for device identification (fingerprinting) in 2000. Another 12 patents are pending.
Originally published in The Nilson Report
September 2013, Issue 1,026