ID Analytics Introduces Fraud Detection Solutions for Online Retailers
March 26, 2013
New suite of solutions enables eCommerce retailers to maximize conversion while minimizing fraud with insight of ID Network
SAN DIEGO, CA – ID Analytics,a leader in consumer risk management, today introduced a suite of fraud detection solutions designed specifically for eCommerce retailers. This suite of eCommerce 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 $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.
ID Analytics’ 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 ID Analytics eCommerce 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.”
Taking Fraud Detection to the Next Level
The specific offerings found in ID Analytics’ eCommerce suite include:
- Transaction Protector™— A powerful transaction fraud score designed for the eCommerce 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, real-time 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.
ID Analytics’ eCommerce suite is available today. Additional information can be found at: www.idanalytics.com/eCommerce.
About ID Analytics, Inc.
ID Analytics is a leader in consumer risk management with patented analytics, proven expertise, and real-time insight into consumer behavior. By combining proprietary data from the ID Network®—one of the nation’s largest networks of cross-industry consumer behavioral data—with advanced science, ID Analytics provides in-depth visibility into identity risk and creditworthiness. Every day, many of the largest U.S. companies and critical government agencies rely on ID Analytics to make risk-based decisions that enhance revenue, reduce fraud, drive cost savings, and protect consumers. ID Analytics is a wholly-owned subsidiary of LifeLock, Inc. Please visit us on the web at www.idanalytics.com.
ID Analytics and ID Network are registered trademarks of ID Analytics, Inc. All other trademarks and registered trademarks are the property of their respective holders.