ID Analytics introduced a suite of fraud detection solutions that allows online retailers to use more than standard rules and their own transactional data to help drive conversion, stop fraud and reduce false positives.
It works with third party and internal fraud detection software, providing retailers the option of making consumers part of the process.
The eCommerce suite helps retailers improve their fraud detection through access to the ID Network, one of the nation’s largest networks of real-time, cross-industry consumer behavioral data.
The suite empowers online retailers to:
Maximize conversion by reducing false positives – Despite fraud detection automation, fraud investigators are still overtasked, particularly when it comes to eCommerce 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 in real-time – ID Analytics synchronizes its data platform with that of the online merchant to provide instant insight into transactions. This enables eCommerce retailers to stop fraudulent transactions before incurring any financial or time loss.
“Fraudsters are becoming increasingly sophisticated, and eCommerce retailers still encounter too many false positives when screening for potential fraud. ID Analytics partners with merchants to help them fight fraud while ensuring that no additional friction is introduced into the online customer experience,” said Aaron Kline , director of eCommerce, ID Analytics. “This new suite of products leverages our unique data platform and is specifically designed to help eCommerce merchants maximize conversion by accurately separating true fraud from false positives and detecting when an online account is compromised.”