Research shows businesses in the EU experience loss from fraudulent card payments as much as 0.04% of the value of the transactions. For the States the same percentage is 0.10%.
With every successful sale you are gathering data:
- Time and date of the sale
- Customer behavior before the sale
- Type of product
- Context of the sale (holiday gift, black Friday purchase)
- Identity of the buyer
With multiple transaction data, you can quickly predict:
- Will the customer purchase your product?
- How much are they willing to spend?
- When are they most likely to buy?
- Can they be trusted?
Integrate the FraudFence™ solution into your product and connect it to your data bank. By aggregating information from outside sources, your internal database and real-time transactional data, FraudFence™ calculates possibilities and probabilities in the background and gives you a score-based prediction for potential fraudulent transactions instantly.
You have the information. Not using it means you are rejecting valuable intelligence. Imagine the simplicity of having the help of data in every day, hour and minute decisions. Not only do you protect yourself from fraud and your business from losses; you free human-resource time and intelligence and raise employee satisfaction alongside morale. You turn workers into specialists and retain your top talent. Harness their expertise and creativity and see your organization flourish.
- Easy integration to your standard workflow with results in a fraction of a second
- Get actionable advice in simple terms – the risk of fraud in percentage values
- Employ machine learning to study customer behavior and catch even counterintuitive signs
- Automate sales processing by accepting or rejecting transactions with confidence
- Get aggregated data – a combination of in-house data, open data and third-party data give you the complete picture.
- Automatically collect and document new data to track changes and increase accuracy