Overview of Kount
Kount is a comprehensive suite of fraud detection and prevention solutions designed to protect e-commerce businesses, payment providers, and other online entities from various types of fraud. Here’s a detailed look at what Kount does and its key features:
Purpose and Benefits
Kount’s primary objective is to prevent and reduce fraud-related losses, including chargebacks, payment fraud, new account fraud, and account takeover fraud. By implementing Kount, businesses can experience significant reductions in chargebacks (up to 98% fewer chargebacks) and see an increase in bottom-line sales (between 2.2% and 5.8%).
Key Features and Functionality
Fraud Detection and Prevention
- Kount uses advanced artificial intelligence (AI) and machine learning models to analyze over 32 billion interactions annually, gathering trust and risk signals to accurately assess and mitigate fraud risks.
- The platform identifies and stops both known and emerging fraud tendencies through supervised and unsupervised machine learning models.
Risk-Scoring and Decision-Making
- Kount’s adaptive AI networks provide accurate risk-scoring, enabling real-time order decisions and reducing the need for manual reviews. This helps in automating choices and minimizing false positives.
Chargeback Management
- Kount offers comprehensive chargeback management solutions to protect revenue and reduce the impact of chargebacks on businesses.
Identity Verification
- Kount’s identity verification software quickly and accurately verifies the authenticity of identity documents, detects fake IDs, and complies with know-your-customer (KYC) regulations. Features include passwordless authentication, reusable identities, auto-fill forms, and identity proofing.
Account Protection
- The platform includes account takeover prevention technology that detects suspicious activity and stops costly account takeover (ATO) fraud, ensuring a seamless and secure customer experience.
Customization and Optimization
- Kount allows businesses to develop, modify, and test their own fraud policies and regulations using the integrated Customer Experience Engine. This customization helps in enhancing security and optimizing business operations.
Advanced Analytics and Reporting
- Kount provides advanced analytics and business intelligence reporting, enabling businesses to analyze macro patterns and individual transactions. This helps in making informed decisions, reducing friction, and enhancing customer experiences.
Compliance
- The platform assists in compliance with various regulations through features like customer due diligence, global watchlist screening, and regulatory reporting. This simplifies the compliance process without compromising business growth.
Product Line
Kount’s services are categorized into several key products:
- Kount Complete: Online fraud monitoring for transactions where the card is not present at the point of sale.
- Kount Central: Fraud protection for credit card payment gateways, payment providers, banks, and e-commerce providers.
- Kount Access: Login protection for high-volume account login and creation websites to prevent malicious hacking.
- Kount AI Services: Utilizes AI and machine learning to provide insights about business performance, helping in maximizing fraud detection and revenue generation.
In summary, Kount is a robust fraud detection and prevention solution that leverages AI, machine learning, and extensive data analysis to protect businesses from various types of fraud, enhance customer experiences, and ensure compliance with regulatory requirements.