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The Green Sheet Online Edition

February 25, 2019 • Issue 19:02:02

New Products

Real-time analytics to block fraud, increase sales

Product: TranZlytics
Company: TranZlytics LLC

TranZlytics LLC launched TranZlytics, a software-as-a-service (SaaS) payments and risk management platform designed to optimize ecommerce payment streams. Combining machine learning with human oversight, the solution helps ecommerce merchants defeat fraud and increase sales, company representatives stated. Its integrated network provides real-time access to transaction data with dynamic scoring, filtering and reporting capabilities.

"Our secure portal provides activity overviews and real-time threat-level alerts, enabling banks, processors, ISOs and merchants to thwart CNP fraud before it happens," said Sandy Travers, founder and CEO at TranZlytics LLC. "It helps ISOs manage portfolio risk by showing them where the bad actors are. The solution is easy to deploy and gateway and processor agnostic." Fraud is continually evolving, Travers noted, adding that TranZlytics evaluates each fraud type, consistently shutting down emerging fraud schemes to stop new iterations from developing. Dynamic fraud prevention tools are the best defense against increasingly prevalent forms of fraud, she stated.

Blending human, artificial intelligence

"When it comes to fraud and chargebacks, one size doesn't fit all," Travers said. "We understand that each business is unique and that fraudsters are sophisticated, which is why the TranZlytics platform is engineered to continuously adapt and change."

TranZlytics further described the platform's benefits as follows:

  • Aggregated transaction data: TranZlytics culls transaction data from trusted sources to help merchants manage risk, know their customers and make informed data-driven decisions.
  • Single-access view: TranZlytics' secure portal provides an enterprise-level view across a corporate network, making information accessible, organizable and easy to manage.
  • Turnkey deployment: The TranZlytics platform's plug-and-play design makes it easy for companies to deploy and customize.
  • Advanced analytics: TranZlytics uses advanced analytics to prevent good transactions from being declined and differentiate between trusted and suspicious identities.
  • Reputational scoring: TranZlytics' technology identifies good customers based on their transaction histories and e-DNA. It assigns a reputation score to each digital identity that goes through the platform. The dynamic reputation score facilitates data-driven decisioning.
  • GDPR compliance: The TranZlytics platform complies with General Data Protection Regulation (GDPR) policies and requirements by tokenizing and pseudonymizing data.

Automated chargeback tools

Keeping merchants below a 1 percent chargeback threshold is critical, especially in the high-risk merchant sector, Travers stated. TranZlytics aims to keep chargeback ratios below half a percent. "Fraud can hit a merchant's network at any time, and merchants that breach that one percent threshold risk fines, higher processing fees and even being shut down by their banks," she said. "Advanced, automated chargeback management programs have been shown to prevent 60 to 70 percent of fraudulent transactions."

Human intelligence combined with machine learning, linkage algorithms and automated technologies assess data flows, identify anomalies and prevent chargebacks from happening, Travers noted. A dedicated team of fraud and chargeback experts use a holistic approach to help business owners keep processing accounts up and running at the lowest possible rate.

Travers mentioned that TranZlytics recently exposed a fraud ring on a merchant's network and stopped transactions before they were authorized. While transactions in question were newly stolen identities, the platform's numerous fraud tools exposed anomalous behavior, including non-working phone numbers, she said.

Protect, prevent, preempt

TranZlytics platform's core principles are fraud protection, prevention and preemption throughout the payments value chain. The company works with financial institutions, ISOs, sub-ISOs and agents, and enterprise-scale merchants to help them manage risk and increase profits. "Onboarding a high-risk merchant requires a tremendous amount of due diligence," Travers said. "Losing that MID is a big loss for all stakeholders in terms of onboarding costs, lost revenue, and banks can lose multiple lines of business." Acquirers, processors and risk teams are using the platform to manage risk, prevent chargebacks and maintain healthy, profitable merchant portfolios, she added. end of article

Website: www.tranzlytics.com Contact: info@tranzlytics.com

The Green Sheet Inc. is now a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals. Click here for more information.

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