Fraudsters seem to be everywhere these days, from the financial services sector to the travel industry to electronics. With so many risks out there, how do companies keep their consumers and employees safe from automated attacks? Accertify prides itself on being a one-stop shop for fraud management.
RewardExpert had the opportunity to speak with Vice President of Partnerships, Marketing and Sales Enablement, Lisa Rankin, about what sets Accertify apart from its competitors, and how its technology helps save businesses time and money.
The Birth of a Successful Business
Accertify started in the Chicagoland area a decade ago and was acquired by American Express in 2010. “It was founded by a group of people looking at online travel and helping online travel agents manage their fraud,” said Rankin. “With that idea, they built the first version of Interceptas and marketed it to large enterprise customers in the ticketing and travel space.”
The Interceptas Data Management Platform applies automation to each step in the merchant’s process of managing fraud exposure with credit cards. According to Rankin, “It is an incredibly powerful case management solution that leverages all of the data across our enterprise merchants.”
The company offers a variety of services and solutions to help merchants and financial institutions from account originations to responding to customer disputes. Their sophisticated data also assists in preventing returns and chargebacks. “We help identify bad actors and try to reduce fraudulent transactions from happening,” stated Rankin.
Using AI and Identifying the Fraudsters
With the significant improvements in technology and artificial intelligence, being able to identify fraudsters before something bad happens is of utmost importance. Accertify’s technology is able to make computations across thousands of data points in milliseconds to make smarter, better decisions.
Rankin explained that this has been essential in “identifying good customers and offering low friction transactions for legitimate customers.” On the flipside, it also helps in identifying less obvious trends in terms of bad actors, allowing for better decisions and reducing the manual review and resources needed.
Rankin also noted that protecting a company’s brand is imperative. “Businesses don’t want to be affiliated with high fraud rates or stories about their website being breached, or customers transacting with other credentials. I think the brand reputation and protecting your customer data and ensuring that your customers’ accounts are protected is important.”
She highlighted Amazon, and how more and more companies are struggling to compete with the ‘one click checkout world.’ Rankin said Accertify helps provide the confidence and tools to allow for seamless and frictionless transactions to their best customers, and this helps drive revenue.
Why Choose Accertify for Protection
As their website states, Accertify is the first company to focus on developing fraud prevention tools from the perspective of merchants who accept ‘card not present’ transactions. It also promises a constant commitment to maintaining the best in fraud prevention strategies for credit cards and more.
Rankin highlights a few other ways Accertify stands out from competitors:
- Their customer base – Many companies have built various algorithms, but Accertify has billions of transactions and data points feeding theirs. In turn, the company can better help in identifying good and bad actors in their systems.
- Accertify excels in sophistication by being owned by American Express – “We’ve been able to benefit from decades of experience with American Express as a provider in working with merchants in terms of modeling and understanding how to think about fraud,” said Rankin.
- The company offers end-to-end assistance from account origination all the way through to dispute management. “We offer the full suite of services and products that a financial institution or merchant might be looking for,” explained Rankin.
Protecting Your Company from Fraudsters
Accertify just celebrated its tenth anniversary and Rankin said there is still more that needs to be done to help companies in the future, as fraud is and will continue to be around for decades. “People talk about fraud not just being a science but an art, and we feel that we are uniquely placed to combine sort of the art and science of managing and protecting the largest brands in the world.”
For more information on Accertify and its solutions, visit accertify.com.