Fraud Detection

To thwart fraud, the natural tendency is to utilize the latest countermeasure and hope it works. What frequently happens is organizations push unnecessary friction to their customers. This approach often produces vague risk scores and adds yet another tool that requires support. The result is a frustrating customer experience and a whack-a-mole risk strategy leading to lost revenue and customer attrition. The most effective approach is to implement a multi-layered strategy, which our platform has been custom engineered for. 

With online payment fraud forecasted to reach at least $91 billion annually by 2028, now, more than ever, is the time to employ a multi-layered approach to fraud prevention.

We’ve built an industry-leading platform underpinned by advanced machine learning technology, device intelligence, and user behavior analytics to prevent fraud and abuse while helping to maintain and grow your relationships with your repeat customers. 

_{¹ Juniper Research Report. (2023). Online Payment Fraud: Market Forecasts, Emerging Threats & Segment Analysis 2023 – 2028.} 

Use Cases 

In the digital age, payment-related fraud is more common than you might expect, and it affects both businesses and consumers. Payment fraud, also known as credit card fraud, chargeback fraud, or bank fraud, occurs when a bad actor steals someone’s credit card, debit card, or bank account credentials, and uses that information to make one or more unauthorized purchases. Often, the offender will sell the illegally purchased items to obtain cash.  

This is a growing problem and unfortunately is not going away any time soon.  Payment fraud schemes come in many forms, including: