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Table of Contents

Lead Story

Thriving in a disruptive market - MLS strategies

News

Industry Update

Zaxby's breach under investigation

UBPS acquisitions further ambitious vision

AmEx restructuring, reimbursements force job cuts

Fed assesses Durbin effect on networks, banks

Features

SMEs and important changes to the EU data protection act

Bill Farmer
Mako Networks Ltd.

Research Rundown

ISOMetrics:
Fed analysis of post-Durbin effects on networks

Website mistakes to avoid

Selling Prepaid

Prepaid in brief

Using KYC to boost prepaid usage

Low fees may be lynchpin for tax refund card adoption

Views

Is prepaid usage a valid measure of banking status?

Patti Murphy
ProScribes Inc.

Top five reasons to sell POS systems

Brian Jones
Harbortouch

Is m-commerce at a cultural tipping point?

Rick Berry
ABC Mobile Pay Inc.

Education

Street SmartsSM:
Tack like a sailor to strengthen your sales

Jeff Fortney
Clearent LLC

Time to take inventory of your leadership stock

Dale S. Laszig
Castles Technology Co. Ltd.

Distancing your ISO from the pack through partnerships

Christopher Briller and Sean O'Neil
MerchantPro Express LLC

Fraudsters persisting in the new year

Nicholas Cucci
Network Merchants Inc.

Company Profile

Glazer_Kennedy Insiders Circle LLC

New Products

Say yes to global customers

Multicurrency processing
Pivotal Payments

Artificial intelligence pinpoints fraud

Kount AI platform
Kount Inc.

Inspiration

You think you've got it bad

Departments

GS 10 Years Ago

Readers Speak

Resource Guide

Datebook

Miscellaneous

2013 events calendar

Skyscraper Ad

The Green Sheet Online Edition

January 28, 2013  •  Issue 13:01:02

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New Products

Artificial intelligence pinpoints fraud

Product: Kount AI platform

Kount Inc., a company known for its proprietary, all-in-one, fraud and risk management platform for card-not-present environments, upped the ante with the addition of artificial intelligence (AI) tools that are capable of learning from historical outcomes and then accurately detecting fraudulent activity as it occurs in real time, the company stated.

"Fraudsters are becoming increasingly sophisticated, which makes it more and more difficult for merchants to differentiate good orders from bad ones," stated Steven Rouse, Chief Operating Officer for Kount. "Kount's AI technologies, combined with other statistically relevant predictive models, provide our clients with best-in-class fraud detection."

Central to Kount's AI technology is what system developers refer to as supervised machine learning. Kount described this learning process as "a specialized branch of statistical learning theory that combines historical training data with predictive functions that process real-time threat data." As a result of this unique combination of AI and highly accurate predictive models, Kount's system reportedly learns on the go to detect and stop fraud.

In card-not-present environments, where every second counts, heavy emphasis is placed on speed and accuracy. "Some of the huge challenges with using AI to detect fraud relates to the computational complexity of doing it in real time," Rouse noted. "Kount has solved these math problems and reduced the overhead required to effectively deploy AI against evolving threats in real time."

According to Kount, its average fraud analysis response time is approximately 350 milliseconds, making it one of the fastest fraud detection solutions in the industry. Another benefit with Kount's AI technology is its ability to minimize Internet-based "noise" which can trigger false positives in many of the standard fraud detection models available today, the company stated.

"Neural networks and Bayesian models are susceptible to noise, which is partly responsible for the high rate of false positives these models can generate," Rouse said. "Kount's AI approach is more accurate because we deploy active filters to remove that noise and bias. This is a major reason Kount has much better performance than our competitors."

ISOs and merchant level salespeople who are interested in learning more about this turnkey fraud detection and prevention system (which has reportedly reviewed hundreds of millions of transactions to date) are encouraged to contact the company for a brief overview. The Kount system is being offered as a software-as-a-service solution.


Features of the Kount AI platform include:


Kount Inc.
208-489-3300
www.kount.com

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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North American Bancard | Harbortouch | USAePay | IRISCRM.COM | Humboldt Merchant Services