Kount: Providing Real-time Fraud Prevention and Account Protection

Brad Wiskirchen | Co-Founder & CEO | Kount

The future of fraud prevention is complete customer journey protection with personalized user experiences. At each interaction point, businesses can dynamically introduce or eliminate friction based on identity trust. Advanced AI and proactive analytics enable businesses to make strategic decisions and flip the script on fraud prevention.

Kount pioneered enterprise fraud prevention, and the company was founded out of necessity. In the early 2000s, eCommerce merchants were struggling with fraud, which caused many to go out of business. Those that survived did so under the constant threat of heavy fines and penalties from credit card brands for excessive chargebacks. Many owed more than $1 million annually.

Impactful Leadership

Recognizing both a need and an opportunity, the Co- Founder and CEO of Kount, Brad Wiskirchen, and his co-founders commissioned a study to determine fraud pain points and what businesses would want to see in a comprehensive fraud control solution. Armed with this intelligence, Wiskirchen launched the world’s first (and only) purpose-built, enterprise-level, comprehensive fraud control solution—Kount—in 2007.

From repeatedly innovating years ahead of the pack to building a business that now helps more than 9,000 brands in over 250 countries and territories review billions of transactions annually, no executive has impacted the identity and fraud industries as significantly as Wiskirchen. He and his team immediately filed patent applications for their innovations. Today, Kount holds 39 patents with more pending. In 2020, Kount released seven new products and solutions and earned substantial industry recognition as the leader in identity trust and fraud prevention.

Personalized Customer Experiences

Kount is the leader in digital identity trust and fraud prevention. Kount’s Identity Trust Global NetworkTM delivers real-time fraud prevention, account protection, and bot detection and enables personalized customer experiences for more than 9,000 leading brands and 50 payment providers and card networks. Linked by Kount’s award-winning AI, the Identity Trust Global Network analyzes signals from 32 billion annual interactions to personalize user experiences across the spectrum of trust—from creating frictionless experiences to blocking fraud. Quick and accurate identity trust decisions deliver safe payment, account creation, and login events while reducing digital fraud, chargebacks, false positives, and manual reviews.

Complete Customer Journey Protection

Kount’s Identity Trust Platform provides complete customer journey protection from account creation and login to payment transaction and bot detection. Further, Kount’s advanced, deep data analytics empower businesses to approach their eCommerce strategies proactively.

Kount Command uses the Identity Trust Global Network and advanced AI to protect against payments fraud and chargebacks. Kount Command is trusted by more than 9,000 companies to reduce digital payments fraud, protect against chargebacks, and deliver personalized customer experiences.

Kount Control provides adaptive account takeover protection using a layered approach to make risk or challenge decisions dynamically, in real time. Kount Control gives businesses a unified and customizable solution to combat malicious logins and bots, credential stuffing, and brute-force attacks while enabling personalized customer experiences through an adaptive friction model.

Event-Based Bot Detection advances beyond network and device-based solutions, such as CDNs and WAFs, that protect IT infrastructures against many malicious bots. Kount’s new solution delivers comprehensive protection for all events across the digital customer journey, including account creation, login, coupon or loyalty point redemption, and payment. It can quickly identify good and malicious bots, analyze and classify questionable bots, and enable customized responses by adapting policies within minutes based on the bot’s behavior and desired business outcomes.

Data on Demand is the industry’s first private data warehouse enriched with insights from Kount’s Identity Trust Global Network, powered by advanced artificial intelligence and machine learning. Hosted by Kount and fueled by Snowflake, Data on Demand gives enterprises the unprecedented ability to employ data proactively to increase revenue opportunities via customized up-sell, cross-sell, and down-sell initiatives. Businesses can use Data on Demand to reduce friction, discover omnichannel customer behavior, and evaluate fraud prevention initiatives.

Trusted Security Partner

The coronavirus pandemic has permanently altered the way we engage with eCommerce. In a matter of months, digital transformation accelerated more than it might have in years. More consumers are doing more business online, from ordering necessities to ordering dinner. While some in-person activities and purchasing has resumed and will continue, the convenience and ease of eCommerce will cause many to continue to engage in this fashion.

This marks a permanent shift. Businesses that hadn’t yet embraced eCommerce were forced to do so overnight to survive. Digital businesses have faced unique challenges in 2020. Some experienced dramatic changes in transaction volume. Some needed to quickly pivot to accelerate digital offerings. And some experienced fraud, as bad actors took advantage of eCommerce changes. With digital transformation comes risk. Navigating and staying ahead of that risk requires a trusted partner like Kount.

Adapting to Changing Consumer Demands

As digital businesses experienced dramatic changes in 2020, it was key that Kount not only provide expert fraud prevention solutions but overcome the limitations set by the pandemic. In a matter of days, businesses experienced dramatic changes in transaction volumes. Suddenly, purchases that were once odd and seemingly risky were normal—i.e., ordering a large volume of hand sanitizers in the middle of the night.

Kount leaned on its Identity Trust Global Network and adaptive AI to serve businesses. Kount’s AI combines both supervised and unsupervised machine learning to detect existing and emerging fraud. Kount’s unsupervised machine learning, which doesn’t require historic data, was instrumental in helping businesses adapt to changing consumer demands in real-time.

Use of Advanced Technologies

Advanced, adaptive AI and machine learning are key to effective fraud prevention across the customer journey. Using the Identity Trust Global Network, Kount’s AI emulates the instincts and experience of an experienced fraud analyst by taking into account both historical fraud patterns and anomalies. Supervised machine learning analyzes historical fraud data and is trained on Kount’s Identity Trust Global Network, which includes billions of transactions from over 13 years of data in over 250 countries and territories and over 50 payment and card networks.

Then unsupervised machine learning analyzes potential anomalies and emerging fraud trends. Unsupervised machine learning employs advanced algorithms and models to detect anomalies faster, more accurately, and on a more scalable basis than human judgment alone.

Kount’s AI weighs these results and produces a highly accurate risk score, Omniscore, in less than 250 milliseconds. Having a risk score means businesses can decide what fraud confidence thresholds they’re comfortable with and drive desired outcomes like higher revenue, reduced fraud losses, and customizable customer experiences.

Globally Applicable and Innovative Solutions

The independent analyst firm Forrester Research named Kount a “Strong Performer” in The Forrester W TM ave : Risk-Based Authentication (RBA) for Q2. Kount tied for the highest score in the Current Offering category. Kount was one of just seven companies to be TM included in the Forrester Wave for RBA.

The independent research firm Mercator Advisory Group ranked Kount the Best e-Commerce Fraud Detection Solution in its vendor comparison. Mercator analysts assessed more than 40 fraud prevention providers and selected five that offer complete solutions for a detailed comparison across five attributes. Kount ranked highest overall with a 4.58 out of 5, as well as first in two categories.

The 2020 Frost & Sullivan eCommerce Fraud Prevention Radar ranked Kount a leader for growth and innovation. The Frost Radar analyzes fraud prevention providers for their growth strategies and track records. And it assesses their ability to develop globally applicable and innovative solutions that align with megatrends and customers’ changing needs.

Fast Company’s annual list of the World’s Most Innovative Companies for 2020 recognized Kount in the security category. The prestigious list honors the businesses making the most profound impact on both industry and culture, showcasing a variety of ways to thrive in today’s fast-changing world.

The JMP Securities Elite 80 listed Kount among the hottest cybersecurity, data management, and IT infrastructure companies for the second year in a row. The JMP Elite 80 highlights the most interesting and strategically positioned private companies in cybersecurity and IT infrastructure. Kount was the only digital fraud prevention company on the list. The Elite 80 recognizes companies that leverage powerful technological advantages to disrupt traditional business models and dominate their respective markets.

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