Fraud prevention firm Kount is introducing the Identity Trust Global Network for the establishment of real-time identity trust using artificial intelligence (AI), Kount announced today (Feb. 10). The Boise, Idaho-based cybersecurity firm said Identity Trust establishes “trust for each identity behind every interaction, including payments, account creation and login events.”
Instead of simply obstructing fraudulent transactions, Kount offers users customized experiences so they can tap new revenue sources. With both unsupervised and supervised machine learning, the solution can deliver “accurate identity trust decisions in milliseconds,” customized to ideal outcomes of a business, according to its press release.
“The fraud prevention industry is changing, and the future is in establishing trust in order to create a personalized experience,” said Jordan McKee, research director of 451 Research. “To this end, merchants must reimagine their approaches to fraud. Solutions such as Kount’s Identity Trust Global Network go beyond machine learning or rules, offering an identity trust data network, advanced AI and a user experience engine. Businesses that are able to make dynamic decisions based on the level of trust in a user’s identity will be at a significant advantage in the years ahead.”
Kount’s latest architecture cuts false positive rates by 50 percent, and connects 2.7 billion fraud signals in real time. The User Experience Engine lets businesses automate fraud prevention decisions, while offering flexibility to refine policies for the best outcomes.
“With the largest network of trust and fraud signals, combined with adaptive AI and [machine learning], Kount’s Identity Trust Global Network uncovers the appropriate level of trust behind interactions, where other solutions often miss fraud, create false positives or unnecessary friction due to limited data sets, and [lack real-time] AI,” said Brad Wiskirchen, CEO of Kount. “From a website visit to login, checkout or account creation, Kount’s Identity Trust Global Network goes to work analyzing billions of identifiers to establish trust in real time.”
Kount’s data is more than 13 years in the making, since its founding in 2007. The company works with over 6,500 customers across more than 75 industries in 250-plus countries and territories.
In October, Kount launched the Friendly Fraud Prevention Solution to protect companies from criminal and friendly fraud. The solution helps businesses avoid chargebacks, and speed up dispute resolutions.