Kount’s Artificial Intelligence Technology Combats Card-Not-Present Fraud12-Dec-2012
BOISE, Idaho--(BUSINESS WIRE)--In an industry built on privacy and security, Kount Inc. is unveiling one of the most unique aspects of its proprietary technology. Kount’s proprietary technology platform includes artificial intelligence fraud detection methods that provide accurate, real-time assessments for card-not-present transactions, including mobile payments. Artificial Intelligence, or “AI”, is a powerful technology that learns from historical outcomes and then accurately detects fraudulent activity as it occurs in real time.
A cornerstone of Kount’s AI technology is supervised machine learning – a specialized branch of statistical learning theory that combines historical training data with predictive functions that process real time threat data. Supervised machine learning is a powerful component used in conjunction with tactical methods used to identify fraudulent behavior as it is happening.
“Fraudsters are becoming increasingly sophisticated, which makes it more and more difficult for merchants to differentiate good orders from bad ones,” said Steve Rouse, COO at Kount. “Kount’s AI technologies, combined with other statistically relevant predictive models, provide our clients with best-in-class fraud detection.” This unique combination of artificial intelligence and highly accurate predictive models learns on the go, detects and stops fraud, and allows Kount’s clients to move confidently into new markets.
According to Rouse, “Some of the huge challenges with using AI to detect fraud relates to the computational complexity of doing it in real time. Kount has solved these math problems, and reduced the overhead required to effectively deploy AI against evolving threats in real time.” Kount’s average response time is approximately 350 milliseconds, which makes it one of the fastest in the industry.
Kount’s technology also minimizes the “noise” that is more common in neural network and Bayesian technologies used by some of its competitors. Rouse elaborates, “Neural networks and Bayesian models are susceptible to noise, which is partly responsible for the high rate of false positives these models can generate. Kount’s AI approach is more accurate because we deploy active filters to remove that noise and bias. This is a major reason Kount has much better performance than our competitors.”
Kount helps businesses boost sales by reducing fraud. Our all-in-one, SaaS platform simplifies fraud detection and helps online businesses accept more orders. Kount’s turnkey fraud platform is easy-to-implement and easy-to-use. Kount’s proprietary technology has reviewed hundreds of millions of transactions and provides maximum protection for some of the world’s best-known brands. Merchants using Kount can accept more orders from more people in more places than ever before. For more information about Kount, please visit www.kount.com.
Don Bush, 208-489-3346
Director of Marketing