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Digital Identity, Security & Online Fraud

Perseuss launches Reputation Score to address false positives

Tuesday 12 February 2019 | 02:19 PM CET

Perseuss has announced the launch of Reputation Score, aiming to not only help companies prevent fraud, but also decrease the amount of false positives and increase conversion.

Perseuss originates as an airline community’s solution to the problem of fraud but is now used by merchants in many different verticals as well. It offers both a technical toolkit to fight fraud and a forum where airlines and other merchants can work together to identify new patterns in fraud crime and develop strategies to overcome them.

The Reputation Score was created to face the challenge of blocking fraudulent transactions while avoiding the risk of rejecting good transactions. According to Perseuss’ Community, false positives are increasingly problematic: most merchants estimate that up to 10% of the orders they declined, should have been approved. The costs might just as well outshine that of the actual fraud: you won’t lose just the value of a particular order, but also the sales and marketing investments.

The recently launched scoring makes it possible to not only learn how risky a transaction is, but also how trustworthy. This is possible by applying Perseuss’ AI-based fraud detection algorithms that are powered by over 3,2 billion data elements. At least 80% of the customers checked by members, are known in the database. That enables giving a positive recommendation if the extensive consortium data indicates a transaction is legitimate.

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