Kount’s All-In-One Platform Simplifies Fraud Detection And Prevention To Help Online And Mobile Businesses Accept More Orders18-Sept-2017
Kount protects online businesses from the negative effects of cybercrime and fraud. Fraudsters that come to our clients’ website attempting to steal goods and services are detected in milliseconds and denied the opportunity to use stolen financial data like credit card information to make purchases, while posing as a legitimate consumer. Through our service customers actually see increases in revenue and at the same time a dramatic reduction in fraud losses. Below is our inteview with Donald Bush, Vice President of Marketing at Kount:
Q: Donald, could you tell us something more about your platform?
A: Our award-winning, all-in-one platform reviews billions of data points, from millions of transactions from 180 countries. We simplify fraud detection and help online and mobile businesses accept more orders, while reducing the risk of fraud. With Kount, these merchants approve more orders, uncover new revenue streams, and dramatically improve their bottom line, all while minimizing fraud management cost and losses. Kount is backed by one of the world’s largest private-equity firms, CVC Capital Partners. Our proprietary technology provides maximum protection for some of the world’s best-known brands.
Q: Kount was recently Named a Strong Performer By Independent Research Firm; could you tell us something more?
A: We are thrilled to be recognized by Forrester Wave Research as excelling in overall web fraud management for merchants. The firm commended our patented, award-winning products for their excellence in web fraud management for merchants. Mobile and online fraud is rapidly growing and changing, and Kount is committed to providing innovative solutions to help merchants boost sales and beat fraud. We believe this report further demonstrates our value in this sector. The report itself was a 32-criteria evaluation of risk-based authentication providers, with the intent of helping security and risk professionals make the right choice by showing how the most significant providers—including Kount—measure up.
Q: Can you give us more insights into your platform?
A: Kount develops and owns its core technology stack, allowing the company to deliver fast, accurate decisions on each transaction in just a fraction of a second. Kount also uses several patented and proprietary technologies such as artificial intelligence, order linking, device ID, geo-location, mobile signals and others, to screen fraudulent transactions. The flexibility of Kount’s fraud prevention platform makes it ideal for most online businesses, from digital goods to luxury merchandise, to services to new account creation and more. In addition, Kount was designed to be simple to implement and simple to use for easy fraud detection and dramatic improvements to bottom line profitability.
In addition, Kount is grounded in what we like to call Real Intelligence in our approach to AI and machine learning. In order to truly capitalize on all that it has to offer, merchants must implement a combination of four pillars of AI: patented, proprietary technology, vast amounts of data, AI to make sense of all of that data and to identify anomalies, and finally, human intelligence. AI by itself is not enough – the key is the addition of the human element to calculate specific tolerance and risk levels for each specific business to provide real intelligence for retailers. Every business is different, and Kount’s technology is engineered to provide maximum fraud prevention without blocking legitimate transactions.
Q: What makes Kount a good choice?
A: Kount helps merchants boost sales and beat fraud simultaneously. Kount’s fraud management solutions gives online merchants the confidence to sell more products to more people in more places. This confidence can expand revenue opportunities, mitigate fraud, and boost overall sales.
Kount’s suite of product offerings can be tailored to merchant’s unique needs. Kount Complete was created for online retailers operating in card-not-present (CNP) environments, including mobile and provides fraud detection protection for businesses. Kount Central is a fraud prevention tool for online payment processors, payment gateways, hosted payment pages and e-commerce platforms. Finally, Kount Access is a service that protects against account takeover and other fraudulent account use.
Q: What are your plans for next six months?
A: Kount is continuously developing new technology, techniques and patented processes to stay a step or two ahead of the fraudsters. For instance, Kount recently announced the addition of behavioral biometrics technology through a partnership with BehavioSec, a leader in the space. This technology detects users by the way they interact with their devices. This method of identification is extremely difficult for criminals to mimic and can expose BOTs, automated routines designed to commit fraud, nearly 100% of the time.