Payment fraud is increasingly growing and affects a large section of existing retail businesses across multiple channels on which they operate. From small e-commerce to the largest retail chains, the channels that lately attract much of the attention of fraudsters are the online and mobile ones. While existing fraud prevention and detection solutions may alleviate some of the burdens incurred by fraud, they lack the flexibility to adapt to the merchant's specific line of business, sales channels or IT and data infrastructures, resulting in decreased performance and implicitly higher incurred costs over time.
Features Analytics proposes a new standard of speed and quality in detecting and preventing fraudulent actions for retailers in general and e-commerce and m-commerce oriented businesses in particular, by both employing predictive models tailored on data provided by the client and deploying the models on the state-of-the-art eyeDES® streamlined fraud detection platform.
Retailers can’t just take the methods they use for e-commerce prevention and expect them to map seamlessly onto m-commerce. Mobile channel has unique challenges. The most obvious is that the devices are, well, mobile. Techniques which rely on a stationary device and IP address, and a billing address which corresponds to the location of the computer, are going to label too many good mobile transactions as fraudulent.
At Features Analytics we offer the right solution to tackle the challenges of the m-commerce channel by working directly on the m-channel data to develop specific features and custom machine learning models able to detect and evolve with the patterns of the fraudsters and the behavior of the genuine customers.
Supporting complex model configurations, high data throughput and several customizable deployment options, eyeDES® provides retailers with a full-proof, high performance and high security, risk solution in tackling their fraud-related problems resulting in lower losses due to fraud, lower customer insult rates as well as stable detection rates and speed of processing over large periods of time.
Furthermore, eyeDES® can be comfortably integrated in the existing risk and fraud-detection infrastructure, it can complement them or it can work standalone.