Kount AI, founded in 2007, is a fraud prevention and identification solution that lowers fraud and chargebacks. Kount uses advanced analytics and artificial intelligence to determine how much trustworthiness a particular identity has. In addition to blocking fraudulent transactions, Kount’s AI enables companies to see a percentage of blocked transactions. This feature is integrated into the fraud platform ‘Equifax Luminate’.
Personalized Customer Experiences
Equifax kount ai 640m kount equifax has launched a phased initiative to enable more businesses to utilize AI and machine learning for more personalized customer experiences. The goal is to fight digital fraud and improve the customer experience for both existing and potential customers. It is estimated that by 2020, online retail sales will reach $6 billion USD, or 23 percent of all known purchases. Using Kount’s AI solutions can help businesses better protect themselves from fraud, reduce chargebacks, and provide more personalised customer experiences.
Personalized customer experiences based on customer data can increase revenue, decrease cart abandonment, and improve brand loyalty and advocacy. With these solutions, merchants can reach new markets and grow their current customer base. Using the data from Equifax, businesses can target customers based on their financial capacity, demographics, and spending habits. Moreover, this information can help businesses increase revenue opportunities by offering personalized promotions.
Also Read: casino backlinks
Equifax has signed a definitive agreement to acquire Kount, an Idaho-based company that provides artificial intelligence solutions for fraud prevention and digital identity. This $640 million deal is expected to close in the first quarter of 2021. With this acquisition, Equifax plans to increase its presence in digital identity and fraud prevention markets worldwide.
Near Real-Time Chargeback Protection Solution Incorporated into ‘Equifax Luminate’ Fraud Platform
Kount, a division of Equifax, is bringing its Near Real-Time Chargeback protection solution to the Equifax Luminate fraud platform. The new solution includes the Kount Command and Control suites of fraud prevention tools, and Kount Data on Demand, an advanced analytics and actionable customer insights service. Kount will incorporate its technology into Equifax Luminate, an integrated platform that orchestrates multiple solutions and leverages machine learning to provide a holistic fraud protection solution to risk managers.
With the acquisition of Kount, Equifax is extending its global footprint in fraud prevention and digital identity solutions. The new service will complement Equifax’s award-winning artificial intelligence (AI) platform, which links fraud signals from 17 billion devices and five billion annual transactions in more than 200 countries to detect and prevent fraud.
The Near Real-Time Chargeback protection solution enables companies to respond more quickly to disputes and detect fraud at the source. This solution is available through Equifax Luminate, an industry-leading fraud prevention platform. It is cloud-based and integrates seamlessly into the customer application process. With its powerful analytics and rich data sources, Luminate empowers users to mitigate risk in real time and prevent future losses.
Advanced Analytics and Actionable Customer Insights
In order to combat the growing problem of online fraud, Equifax has acquired Kount, a company specializing in digital fraud prevention. Kount uses artificial intelligence to help businesses prevent fraudulent transactions. Its system connects data signals from over 17 billion devices and 32 billion digital interactions to help businesses mitigate the threat of digital fraud and protect customers from account takeovers.
Kount offers a range of solutions ranging from Near Real-Time Chargeback Protection to ecommerce fraud prevention. These solutions will be integrated into the Equifax Luminate fraud platform to help businesses prevent online fraud and improve account creation processes. In addition, Kount’s Identity Trust Global Network will provide businesses with access to thousands of additional data points for deeper analysis and actionable customer insights.
The Kount network connects fraud and trust data signals from 17 billion devices and 32 billion digital interactions each year. This helps companies detect identity fraud and reduce chargebacks. Its identity trust network also helps prevent digital fraud by determining the level of trust that a particular identity has with each payment or login event. In addition, Kount’s full suite also includes Kount Command and Kount Control, which help to prevent account takeovers.
‘Kount Data on Demand’ Offers Advanced Analytics and Actionable Customer Insights
‘Kount Data on Demand is a powerful customer data platform that provides business owners with actionable customer insights and advanced analytics. The platform’s comprehensive and integrated database has the power to deliver more than 100 types of data to help marketers drive business growth. Data can be collected on everything from the payment type and token used by consumers, to the country, currency, and time zone used to complete transactions. In addition, it can provide data on loyalty programs and coupons.
Data on Demand is a first-party data collection solution for enterprise-level brands that can combine customer data from multiple sources, including fraud and risk data. It integrates company-collected data with hundreds of thousands of additional data points from diverse sources. The solution, built on Snowflake, also helps to bridge the gap between fraud and marketing departments. Data on Demand also lets users own the customer insights they get from the integration.
In today’s world, data is the key to success. Kount’s Data on Demand platform provides deep analysis, personalized reporting, and custom machine-learning models. With near-zero maintenance, it enables businesses to manage large volumes of data in the cloud. Kount’s data warehouse is powered by Snowflake, which helps businesses create a single source of truth for data across the entire ecosystem of an organization.