|[December 05, 2012]
Kount's Artificial Intelligence Technology Combats Card-Not-Present Fraud
BOISE, Idaho --(Business Wire)--
In an industry built on privacy and security, Kount Inc. is unveiling
one of the most unique aspects of its proprietary technology. Kount's
proprietary technology platform includes artificial intelligence fraud
detection methods that provide accurate, real-time assessments for
card-not-present transactions, including mobile payments. Artificial
Intelligence, or "AI", is a powerful technology that learns from
historical outcomes and then accurately detects fraudulent activity as
it occurs in real time.
A cornerstone of Kount's AI technology is supervised machine learning -
a specialized branch of statistical learning theory that combines
historical training data with predictive functions that process real
time threat data. Supervised machine learning is a powerful component
used in conjunction with tactical methods used to indentify fraudulent
behavior as it is happening.
"Fraudsters are becoming increasingly sophisticated, which makes it more
and more difficult for merchants to differentiate good orders from bad
ones," said Steve Rous, COO at Kount. "Kount's AI technologies,
combined with other statistically relevant predictive models, provide
our clients with best-in-class fraud detection." This unique combination
of artificial intelligence and highly accurate predictive models learns
on the go, detects and stops fraud, and allows Kount's clients to move
confidently into new markets.
According to Rouse, "Some of the huge challenges with using AI to detect
fraud relates to the computational complexity of doing it in real time.
Kount has solved these math problems, and reduced the overhead required
to effectively deploy AI against evolving threats in real time." Kount's
average response time is approximately 350 milliseconds, which makes it
one of the fastest in the industry.
Kount's technology also minimizes the "noise" that is more common in
neural network and Bayesian technologies used by some of its
competitors. Rouse elaborates, "Neural networks and Bayesian models are
susceptible to noise, which is partly responsible for the high rate of
false positives these models can generate. 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
Kount helps businesses boost sales by reducing fraud. Our all-in-one,
SaaS (News - Alert) platform simplifies fraud detection and helps online businesses
accept more orders. Kount's turnkey fraud platform is easy-to-implement
and easy-to-use. Kount's proprietary technology has reviewed hundreds of
millions of transactions and provides maximum protection for some of the
world's best-known brands. Merchants using Kount can accept more orders
from more people in more places than ever before. For more information
about Kount, please visit www.kount.com.
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