Product Overview of Ravelin
Ravelin is a global fraud prevention company that specializes in detecting and preventing fraudulent transactions online through the use of advanced technologies such as machine learning, graph networks, and real-time behavioural analysis.
What Ravelin Does
Ravelin is designed to protect online merchants from payment fraud by analyzing customer data in real-time to identify and flag potential fraudsters. This is achieved by integrating with the merchant’s website or mobile app to receive a continuous feed of customer data. The platform processes this data through sophisticated machine learning models and graph networks to provide probabilistic scores indicating the likelihood of a transaction being fraudulent.
Key Features and Functionality
Machine Learning Models
Ravelin employs machine learning models that learn patterns of fraudulent behavior based on historical data. These models operate in several ways:
- Global Models: For universal indicators like email addresses, which remain consistent across industries and geographies.
- Industry-Specific Models: Tailored to fraud insights from similar companies within the same industry.
- Bespoke Models: Customized for individual merchants based on their unique historical chargebacks and fraud patterns.
Graph Networks
Ravelin uses graph networks to discover connections between customers, allowing the identification and blocking of entire networks of fraudulent accounts. This approach helps in stopping fraud from spreading both within a merchant’s own data and across Ravelin’s network of merchants.
Behavioural Analytics
The platform tracks every interaction users have with the merchant’s platform, scoring on hundreds of features extracted from the data. This includes not only transactional behavior but also all customer behaviors prior to checkout, providing a comprehensive view of user activity.
Real-Time Analysis
Ravelin analyzes data in real-time, ensuring that transactions are reviewed and scored within a very short timeframe, typically less than 500 milliseconds. This rapid analysis allows merchants to make informed decisions about transactions without delaying the checkout process.
Features as a Service
Ravelin offers “Features as a Service,” which allows merchants to integrate Ravelin’s machine learning features into their internal risk models through API responses. This enables merchants to leverage Ravelin’s extensive list of machine learning features, including those derived from their Connect graph database and consortium dataset.
Customizable Rules Engine
Merchants can set their own rules-based fraud prevention systems, which are executed in combination with Ravelin’s machine learning algorithms. This hybrid approach allows for a flexible and adaptive fraud prevention strategy.
Visualized Dashboard
The platform provides a highly visualized dashboard where merchants can easily monitor sales and detect fraudulent activities in real-time. This dashboard facilitates quick identification of fraudulent shoppers and networks.
Security and Compliance
Ravelin ensures high security and compliance standards, including ISO/IEC 27001 and PCI DSS, to safely store and analyze sensitive data such as card details, location data, and personal identifiable information.
Benefits
- Fast and Scalable: Ravelin’s solution is designed to handle spikes in traffic efficiently, ensuring high availability and cost-effective scalability.
- Global Reach: With Google Cloud’s global network, Ravelin can deploy solutions closer to clients without latency issues, making it a robust solution for international merchants.
- Continuous Improvement: The platform allows for continuous learning and improvement through feedback from merchants’ manual review teams, enhancing the accuracy of fraud detection over time.
In summary, Ravelin is a powerful fraud prevention tool that leverages advanced technologies to protect online merchants from payment fraud, ensuring secure and efficient transactions.