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Equifax is launching a new service called Kount, which is designed to help companies better manage their accounts and prevent digital fraud and account takeovers. With AI-driven analytic insights, the company will help businesses fine-tune their systems and trust levels, enabling them to protect against fraud.
Equifax has announced its acquisition of Kount, an AI-driven fraud prevention platform. The acquisition is estimated to be worth $640 million. It will allow the company to expand its presence in the digital ID space.
The Kount identity trust global network will help Equifax develop personalised customer experiences. The network links billions of trust signals across the internet. By enabling businesses to determine the level of trust for an identity, the network helps mitigate chargebacks. This allows companies to tailor their service and create new e-commerce channels.
With the acquisition, Equifax will add Kount’s technology to its Luminate fraud platform, which orchestrates multiple fraud solutions. In addition, the two companies will share data from 32 billion digital interactions. These interactions are processed through Kount’s artificial intelligence platform, which connects over 17 billion unique devices and analyzes over five billion transactions annually.
Kount, which was founded in 2007, aims to protect consumer data against online fraud. It offers risk-based authentication and SDKs. Additionally, it provides one-to-one support, email support, and other services.
AI-driven analytic insights help prevent digital fraud and account takeovers
Account tkeovers and digital fraud are increasing, and businesses need to find effective ways to prevent these. Fraud can cause a number of economic and reputational repercussions, as well as damage a business’s brand. A robust aalytics solution can help prevent these issues.
Account takeovers can occur when a person uses stolen or compromised credentials to access a consumer’s account. These types of attacks often involve sophisticated evasion techniques. For instance, a fraudulent site may pose as a legitimate one, redirecting a user to the real site.
Digital fraud and account takeovers are increasingly being fought with the help of artificial intelligence. AI can be used to detect anomalies in customer behavior, which can help businesses identify and fight fraud before it happens. This can reduce costs and provide a frictionless experience for customers.
Using machine learning, businesses can identify and reject users that are a security risk, reducing the chances of an account takeover. Businesses can also utilize behavioral biometrics to detect suspicious user behavior and potential fraudulent activity.
AI-driven analytic insights help prevent account takeovers
Equifax recently announced its acquisition of Kount, a leader in AI-driven analytic insights that prevent account takeovers. This will expand Equifax’s global footprint in digital identity and fraud prevention.
The acquisition of Kount will enable Equifax to leverage its advanced analytics and industry expertise to develop and deliver new fraud prevention solutions for global businesses. These products will improve the consumer experience and increase operational efficiency. Specifically, the company’s new digital identity offerings will enhance the customer experience and allow companies to unleash their artificial intelligence capacity.
Kount’s technology provides a comprehensive set of fraud detection tools that are designed to protect against digital payments fraud, credit card chargebacks and account takeovers. It links data signals from billions of devices and transactions to determine the trust level of each individual identity.
The company’s solutions are used by merchants and payment processors across the world. They include the Kount Identity Trust Global Network, which connects data signals from more than 17 billion unique devices. As more signals are gathered, the network becomes more predictive.
AI-driven analytic insights help fine-tune the level of trust in your systems
When you combine data and AI, you get a powerful combination of insight and action. These insights can help you make better decisions. They can also help you find new business opportunities.
For example, in the shipping industry, AI can improve ship maintenance and routes. It can also identify network problems faster. The ship industry is just beginning to reap the benefits of AI. However, a few challenges still need to be overcome.
One of these challenges is the lack of accurate information. If you have data that is missing or inaccurate, you won’t be able to properly train AI models. You’ll need to continue to monitor your models to ensure they’re performing accurately.
Another challenge is the inability to trust your AI model. In fact, according to a Deloitte survey, six out of seven executives say they don’t have confidence in the models they use.
This can result in operational risks, such as reduced profitability. It can also lead to regulatory scrutiny.