Product Overview of Fraugster
Fraugster is an AI-based risk management platform designed to provide comprehensive fraud protection and risk management solutions for e-commerce businesses. Here’s a detailed look at what the product does and its key features:
Core Functionality
Fraugster’s core is its advanced AI Engine, which offers real-time fraud protection and risk assessment for online transactions. This engine processes millions of transactions from various industries and global regions, enabling it to adapt independently to new fraud trends without the need for manual adjustments or training.
Key Features
Real-Time Risk Scoring
The Fraugster Engine evaluates each incoming transaction in real-time, assigning a numerical risk score between 1 and 100, where 1 is the least risky and 100 is the riskiest. This scoring system allows businesses to set their own blocking thresholds based on their specific needs, ensuring a balance between fraud prevention and transaction approval rates.
Integration and Accessibility
Fraugster integrates seamlessly with payment gateways and order management systems via a single API integration. This integration provides access to multiple products without requiring additional technical adjustments, making it easy for businesses to transition between different solutions.
Modular Approach and Rule Engine
The platform offers a modular approach with a flexible self-service rule engine. This allows fraud analysts to design, test, and deploy anti-fraud rules directly in real-time environments, enhancing revenue growth and operational efficiency for merchants.
Comprehensive Fraud Protection
Fraugster provides several layers of fraud protection, including:
- Chargeback Protection: Fraugster takes full liability for fraudulent card transactions, ensuring merchants only pay for approved transactions.
- Account Takeover Protection: This feature uses additional data, such as a unique Device ID, to validate the identity of online buyers and protect customer accounts.
Alternative Credit Decisions
Fraugster’s Alternative Credit Decisions solution enriches credit scoring models with over 100 attributes, including positive transaction history, account history, and purchase history. This helps Buy Now Pay Later (BNPL) and enterprise merchants approve more customers without increasing credit risk, while reducing the need for costly credit bureau checks.
Performance Monitoring and Alerts
The platform includes features such as performance monitoring, alerts on sudden performance changes, and rule simulations. These tools help businesses track and adjust their fraud prevention strategies effectively.
Data Enrichment and Global Intelligence
Fraugster leverages global network intelligence and real-time graph networks to provide detailed data enrichment. This enhances the accuracy of risk assessments and credit decisions, allowing businesses to make more informed choices.
Benefits
- Reduced Operational Costs: By automating fraud detection and eliminating manual reviews, Fraugster helps businesses reduce operational costs and improve team efficiency.
- Frictionless Customer Experience: The platform operates in the background, ensuring that the buyer journey remains smooth and uninterrupted while maintaining robust security measures.
- Increased Revenue: Fraugster’s solutions are designed to increase conversion rates and revenue growth by minimizing false positives and optimizing transaction approval rates.
In summary, Fraugster is a powerful AI-driven platform that offers a comprehensive suite of tools for fraud protection, risk management, and credit decision enhancement, all aimed at helping e-commerce businesses maximize revenue, minimize costs, and improve customer experiences.