Balancing Security and Simplicity for Customers is Key to Preventing ATO

Prevent Account Takeovers and keep customer experience frictionless.

Having the right balance between security and simplicity for customers is the result of applying expertise with an advanced toolset. Customers increasingly view strong security along with a frictionless experience as a differentiating factor. So achieving that balance is critical to your business’ success. With the holidays approaching, now is the time for your fraud detection transformation.

Protecting and Simplifying the Journey for Customers

The conundrum for companies is creating a positive customer experience without playing into the hands of the criminals. While the use of single-click, on-demand, and omnichannel experiences is vital for attracting and retaining customers, they can also unwittingly simplify the stealing of accounts. 

But putting in place measures to help control account takeover and other frauds can easily swing in the other direction and create increased friction for consumers on your site. As a result, abandonment rates and customer service issues will likely increase.

The place to start the transformation is your vision for the customer experience, including account protection. Your customer’s perception of trust and safety is critical as digital interactions continue to skyrocket.

The Tools and Expertise Needed to Resist Account Takeover Fraud

Fraud.net provides cloud-based software that covers your customer’s entire digital journey. We perform risk assessments at every step and without sacrificing the customer’s digital experience. 

The foundation for our unified solution against account takeover is the industry’s leading cloud-based “glass-box” system. We combat account takeover fraud with a combination of machine learning, anomaly detection, and behavioral analyses to detect high-risk sessions on your site and help prevent fraudulent logins. As a digital business, you gain the opportunity to differentiate as a high-trust partner with a frictionless customer experience. 

Below are the eight items making up our comprehensive toolset to protect your business and customers from account takeover fraud, while enhancing the customer experience:

1. 1. Login AI – Our solution is centered around the Login AI product that analyzes a broad array of factors. Login AI helps protect your organization against account takeovers and other unauthorized activities by screening and verifying key details about devices used when signing into an account. 
   2. Machine Learning Models – Detect the subtle patterns of account takeover fraud and use behavioral analysis to flag high-risk sessions. Our solution features machine learning that quickly zeroes in on anomaly detection. 
   3. Guardian – Is our barometer for the effectiveness of our machine learning models in stopping account takeover. 
   4. Robust Rules Engine – Along with the expertise of our Data Science team, our rules engine is the key to blending protection and customer experience. 
   5. Appstore – Provides a wide variety of fraud-related tools from partners to help you seamlessly, transparently, and cost-effectively address your specific requirements. 
   6. Collective Intelligence Network – Our data consortium network provides your organization with actionable insights and the ability to proactively detect fraud that you have not previously encountered. 
   7. Linked Entity Analysis – Our visualization tools help you quickly understand relationships between fraudsters. 
   8. Case Management – Enables your fraud team to rapidly review cases, thereby increasing efficiency, lowering costs, increasing revenue, and reducing fraud.

Prevent Account Takeover without Compromising the Customer Experience

The path to a positive customer experience combined with a strong account takeover defense is through extensive data capture, adaptive AI/ML models, and data science expertise. 

Our focus is a better utilization of your vast trove of customer data to understand the behaviors of fraudsters. By using all of your relevant data and our curated third-party data within the data consortium, you can focus on those behaviors that generate the highest probability of fraud. In addition, our experts provide recommendations on the combination of rules to dramatically reduce false positives and help your fraud team hone in on the bad actors. 

Lastly, these challenging times require digital organizations of all kinds to continue to innovate their anti-fraud policies and technologies to detect account takeover and other fraudulent activities. 

Find out more about preventing account takeover fraud in our eBook, “8 Actions to Reduce Account Takeover Fraud“. To receive a demonstration of how we can help your organization prevent account takeover fraud, please contact our experts.