October 16, 2018
October 9, 2018
With many companies now employing a “digital first” strategy, online transactions have become more pivotal than ever. Consumers transact across a range of devices, storing more personal information online than ever before and visiting trusted sites on a daily basis. Fraudsters are cashing in on this diverse landscape, capitalizing on new techniques for stealing credit card and identity information, and the availability of ever more sophisticated malware. As mobile transactions continue to increase, the threat from payment fraud has never been greater.
Payment fraud can have a huge impact on the success of a business. Damage from a single incident is not limited to lost revenue. Fraudulent transactions can compromise user trust, acquisition numbers and lifetime value. Yet preventing fraud is a balancing act between identifying cybercriminals while minimizing friction for trusted users.
Establishing a complete, unique and reliable picture of true digital identity is more valuable to businesses than ever before. It is crucial to know who your customers really are, because a legitimate and trusted customer base is essential to business growth. The infiltration of fraudulent transactions can cause huge damage to revenue, reputation and lifetime value.
The challenge for businesses is how to navigate the balancing act of accurately identifying fraudsters, while minimizing friction associated paying for good and services. Invasive verification strategies often lead to legitimate customers abandoning transactions and hinder business growth.
ThreatMetrix has a market leading fraud solution that can protect your business from fraudulent transactions. The ThreatMetrix Cybercrime Protection Platform adopts a layered approach to effectively distinguish between legitimate customers and cybercriminals in real time.
The Network underpins the ThreatMetrix solution and leverages global shared intelligence from millions of daily consumer interactions including logins, payments and new account originations. Using this information, ThreatMetrix stitches together a customer’s true digital identity by analyzing the myriad connections between devices, locations and anonymized personal information.
The challenge for businesses is how to navigate the balancing act of accurately identifying fraudsters, while minimizing friction associated paying for good and services.
Digital Identities within the ThreatMetrix Digital Identity Network show a pattern of trusted behavior by incorporating anonymized non-regulated personal information such as user name, password and email address with device identifiers, connection and location characteristics. At the same time ThreatMetrix profiles all devices accessing a website (desktops, laptops, smartphones, or tablets), to identify the presence of malware or other anomalies that might indicate a high-risk transaction. High-risk anomalies can be easily identified and flagged for review or automatic rejection. Businesses can confidently detect transactions, including:
ThreatMetrix offers a powerful yet easily customizable Policy Engine that allows you to incorporate your own business processes and tolerance for risk. This allows your business to fine tune and automate responses for transactions. Every business faces different exposure to fraud risk; with ThreatMetrix you have the ability to tailor the solution to meet these varying and evolving business needs. For example, you may:
ThreatMetrix offers a powerful yet easily customizable Policy Engine that allows you to incorporate your own business processes and tolerance for risk.
ThreatMetrix offers the broadest combination of defenses against payment fraud in a solution that imposes little burden on your IT resources or your customers.