Kount, an Equifax® (NYSE: EFX) company, announced the launch of Kount 360, a new identity and payments solution powered by the Equifax Cloud™. Kount 360 integrates the full suite of Kount products within a single platform and user interface to help businesses prevent digital fraud and achieve operational efficiency by removing the need to manage multiple point solutions.
According to research by eMarketer and Statista, retail e-commerce sales in the U.S. are expected to grow 56 percent between 2021 and 2026. At the same time, e-commerce losses to digital payment fraud in 2022 amounted to $41 billion globally, and industry analysts predict that figure will reach $48 billion by the end of 2023. Businesses are under constant pressure to provide consistent and secure online experiences.
Kount 360 addresses those challenges by offering end-to-end protection of the digital consumer journey by providing better access to first-party device information, email insights, payment history, and more. This helps companies rapidly identify, prevent and respond to fraudulent activities while removing unnecessary friction for their validated consumers. Additionally, these data attributes can reduce dependency on technology platforms and providers that only supply third-party data and improve marketing accuracy by verifying legitimate consumer profiles.
The Kount 360 platform’s intuitive single user interface helps fraud analysts efficiently navigate and leverage innovative fraud solutions without having to move from one program to another. The platform also uses advanced artificial intelligence (AI) for contextualizing data and scoring along with supervised and unsupervised machine learning models to promote stability, longevity and relevance. Each helps to reduce manual, time-intensive processes while providing accurate decisioning capabilities that can be automated or adjusted to fit the needs of a business.
“Over the past two years, Kount has remained focused on driving new product innovation to help our customers around the world better protect and enhance their digital presence,” said Brad Wiskirchen, General Manager of Kount, an Equifax company. “Kount 360 provides our clients with an easy-to-use Equifax Cloud-based platform that streamlines access to multiple Kount solutions and integrates Kount and Equifax data, all within a single user interface. This enables our clients to quickly and effectively reduce fraud, improve the consumer experience, and focus on growing their business with confidence.”
The Kount 360 platform harnesses the power of the Equifax Cloud and offers advanced capabilities to help businesses:
- Combat new attack vectors, such as address manipulation and cross-merchant card testing
- Greatly reduce traditional account takeover fraud while delivering passwordless authentication and reusable identities
- Detect and mitigate Personal Identifiable Information (PII)-cycling card testing attacks in real time
- Utilize optional pre-built decisioning models for email insights, address verification and more
The platform also includes features that are designed to enable users and analysts to develop rapid rules deployment and intuitive fraud strategies. As a result, businesses can prevent more fraudulent activities and reduce false positives up to an additional 20 percent.