The newly introduced suite of e-commerce solutions allows online retailers to use more than standard rules and their own transactional data to help drive conversion, stop fraud and reduce false positives when fighting the estimated USD 3.4 billion online fraud problem. It works with third party and internal fraud detection software, providing retailers the option of making consumers part of the process.
The ID Analytics e-commerce suite allows online retailers to:• maximise conversion by reducing false positives – despite fraud detection automation, fraud investigators are still overtasked, particularly when it comes to e-commerce retailers shipping physical goods. Before involving an investigator, ID Analytics solutions analyze transaction data, device ID and a cross-industry fraud database to reduce the amount of high risk transactions requiring manual review;• stop fraud – ID Analytics synchronizes its data platform with that of the online merchant to provide instant insight into transactions. This enables e-commerce retailers to stop fraudulent transactions before incurring any financial or time loss;
The solution includes:• Transaction Protector – a transaction fraud score designed for the e-commerce market, incorporating both identity and online transaction data. The score can identify more than 80 percent of fraud charge-back losses in the riskiest two percent of transactions;• Transaction Advanced Intelligence – a series of attributes which deliver granular, risk insight on an online transaction from the ID Network, for use in online retailers’ custom analytic solutions and manual investigations;• Transaction Takeover – the ability to detect when an online account is being taken over by a fraudster, whether it is on a desktop, mobile or tablet device.
In October 2012, ID Analytics and US provider of online fraud prevention technology iovation, have teamed up to fight online fraud.
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