April 20, 2018
April 18, 2018
Airlines, travel companies and review sites use ThreatMetrix® to prevent fraudulent reservations, stolen reward redemptions and fake reviews.
Travelers want flexible and easy online account access, and they expect fast service. But, cybercriminals are increasingly using compromised identities to capitalize on the need to deliver convenience within short process cycle times.
ThreatMetrix uses real-time, behavior-based fraud protection to help stop fraud at the front door. This reduces chargebacks, manual reviews and customer friction while mitigating fraud risk before it enters your business.
As more travelers go online to shop, compare, and purchase, travel sites are competing for relevance with buyers by delivering everything from accurate reviews to competitive prices.
But while customers want fast service and an effortless buying experience, travel sites need to defend against fraud. Business requires instant decisions about card-not-present transactions. This means they need an effective way to authenticate customers with minimal inconvenience and false positives.
By using Digital Identities, we can provide a more streamlined authorization process, improving overall card usage while reducing fraud.
— Mark Nelsen, SVP Risk Products, Visa Inc.
Whether using stolen credentials to compromise accounts or hiding behind VPNs and proxy services, cybercriminals are difficult to detect. They even book last-minute reservations, just like your real customers.
Instantly verifying a digital identity with integrated device, location, behavior and threat analytics can red-flag fraudsters in real time before they can access a customer’s account or loyalty rewards. Providing a safe and frictionless experience as they interact with your business can help drive customer loyalty and return visits.
ThreatMetrix allowed us to have bespoke, risk-based authentication that is ahead of the curve. We continue to improve the online experience for valued customers while removing unnecessary friction.
— Evgeny Vinogradov, Head of Data Warehousing & Analytics, Yandex.Money
Account takeover can occur when an individual customer has their credentials compromised or can be launched programmatically through a scripted bot attack following a data breach. Customer devices can also be infected with malware that steals personal account information.
Our solution implements an integrated or layered approach to prevent account takeover. It identifies trusted and suspect identities instantly, creates a secure environment for digital transactions, and detects high-risk behaviors and events based on context from a global Digital Identity Network®.
The evolution of key elements such as remote access takeover, Persona ID, Smart ID, has been excellent. The ThreatMetrix Portal, in terms of case reviews, recalls and the flexibility of the rules, is excellent. This is one of the key strengths for ThreatMetrix relative to its competitors.
— Andy Renshaw, Lloyds Banking Group
A company’s online reputation is based in large part on user reviews. Fraudulent reviews can have a direct impact on brand reputation, revenue and, ultimately, the bottom line. Fraudsters and dishonest establishments create fake reviews for multiple reasons, and these reviews can seriously damage an otherwise great and hard-won reputation.
The ThreatMetrix digital identity solutions ensure that users are who they claim to be. We detect accounts that may be compromised or falsely created, and flag them for immediate attention.
In terms of application fraud, we see lots of device anomalies on fraudulent applications which thankfully we can identify extremely accurately with ThreatMetrix. This is of great value ... it plays a big part in our transaction fraud strategy. The solution contributes to a sustained reduction in digital transaction fraud.
— Jim Winters, Director of Financial Crime, Fraud & Underwriting, TSB
Travel companies’ online platforms can offer cybercriminals an easy way to test the validity of stolen credentials. They will often make small value payments to test the validity of stolen credentials before moving onto higher value purchases elsewhere. ThreatMetrix provides real-time fraud analysis, offering online travel sites an additional layer of protection to detect identity testing while preserving the online experience for legitimate customers.
It [ThreatMetrix] allows us to quickly identify problems without having to hire a large fraud team. ThreatMetrix has allowed us to more comfortably offer a free trial to new subscribers coming to our site.
— Garrett Goff, Head of Fraud, Netflix