Kount is the initiator of using machine learning in payments fraud prevention, with supervised as well as unsupervised solutions dating back to the company’s foundation over a decade ago. Since then, it has been letting companies control their business-driven results such as higher revenue, reduced fraud losses, and lower operational costs.
FREMONT, CA: Kount, which was recognized as one among the Top 10 Financial Fraud Detection Solution Providers of 2018 in CFO Tech Outlook, announced the next-generation AI-driven solution that can change the way transaction fraud prevention is delivered. Kount’s newest advancement builds the closest simulation of the decision process of a skilled fraud analyst, hitherto in a faster, precise, and scalable manner. The AI technology used by the company consists, both supervised and unsupervised ML along with supplementary calculations to convey a make-believe human decision and allows the organizations to control the business-driven outcomes.
“What makes our AI solution superior to some of the other newcomers is we’ve backed the technology with over ten years of data and human intelligence. Expert level guidance and informed business decision-making capabilities must be employed in tandem with cutting-edge, automatable technology algorithms. We are the only solution that provides all of it without the need for on-premise software installation or months of training,” stated Brad Wiskirchen, CEO of Kount.
Kount’s AI follows an experienced fraud analyst by considering both historical fraud patterns as well as anomalies and turns them to supervised ML, which is trained on the company’s universal data network. Unlike other fraud analysts, Kount’s AI utilizes unsupervised ML, which uses advanced algorithms and models to spot anomalies faster and precisely. The innovative solution of Kount allows the analyst to set policies for different thresholds based on a new score called omniscore.
The next-gen AI in fraud prevention is larger than ML and can stimulate, enhance, and weigh the decision process of a skilled fraud analyst to significantly increase the precision and efficacy as well as deliver expected business outcomes. The skill of instantly identifying complicated and rising fraud patterns by Kount’s new AI-solution plays a crucial role in allowing companies to achieve their financial goals without compromising on customer experience.
The award-winning AI-driven digital fraud prevention solution of Kount is used by 6,500 brands globally, where it helps them to achieve their digital innovation mission. Kount’s first technology blends device fingerprinting, supervised and unsupervised ML, firm policy and rules engine, self-service analytics, and a web-based case-management and investigation system. Its solutions help to stop fraud and increase revenue for digital businesses, having banks, and payment service providers.