Overview of Ekata
Ekata, now a part of Mastercard, is a global leader in digital identity verification solutions, designed to help businesses worldwide link any digital interaction to the human behind it. Here’s an overview of what Ekata does and its key features:
What Ekata Does
Ekata empowers businesses to validate identities securely and seamlessly, without disrupting the customer experience or exposing themselves to fraud. This is crucial in today’s digital economy, where instant gratification and frictionless transactions are expected by tech-savvy consumers. Ekata’s solutions enable companies to combat fraud, build trust, and facilitate smooth transactions globally.
Key Features and Functionality
Ekata Identity Engine
The core of Ekata’s product suite is the Ekata Identity Engine (EIE), which leverages proprietary data sets, including the Ekata Identity Graph and the Ekata Identity Network. This engine uses complex machine learning algorithms to correlate behaviors with identity, analyzing over 7 billion identity elements and 5 billion digital interactions.
Global Identity Verification
Ekata provides global identity verification through enterprise-grade APIs and SaaS solutions. The Transaction Risk API delivers real-time risk scores in under 100ms, making it ideal for pre-authorization models and other transactional needs. This helps businesses to identify good consumers and prevent fraud during online account openings, payments, and other digital interactions.
Core Consumer Attributes
The verification process focuses on five core consumer attributes: name, email, phone, physical address, and IP. These attributes are cross-checked to derive unique data links and features from billions of real-time transactions within Ekata’s proprietary network and data licensed from global providers.
Identity Review 360
Ekata’s Identity Review 360 is a comprehensive solution that provides six ways to search, robust analytics, admin tools, and direct workflow integrations. It offers a quick and comprehensive view of the identity behind a transaction, powered by over 70 data elements and real-time machine learning insights from the Ekata Identity Network. This tool helps organizations assess identity risk, approve good transactions, and investigate fraud on a global scale.
Network Risk Signals
Identity Review 360 includes Network Risk Signals, which categorize the risk of a digital interaction as LOW, MEDIUM, or HIGH. These signals track key behavioral fraud and activity patterns such as:
- Velocity: The frequency of an identity attribute in recent transactions.
- Volatility: Changes in identity attributes over time.
- Popularity: The number of merchants where an attribute is seen.
- Age: The history and reliability of an identity element.
- Network Pair Signals: The relationship and interaction history between core identity elements.
Pro Insight
Pro Insight is a SaaS solution designed for manual fraud review. It provides a robust tool for cross-border businesses to grow revenue by maximizing the predictability of good transactions. This solution is particularly useful for businesses that require a more detailed and manual approach to fraud review.
Integration and Scalability
Ekata’s solutions are scalable and integrated, supporting over 1.8 billion requests per year in 238 countries for more than 1,700 companies. The product suite is trusted by a wide range of global merchants, financial institutions, travel companies, marketplaces, and digital currency platforms, including notable clients like Alipay, Microsoft, Stripe, and Airbnb.
Conclusion
In summary, Ekata’s digital identity verification solutions are designed to empower businesses to reduce friction, improve conversions, and combat fraud effectively, ensuring a seamless and secure customer experience in the digital economy.