Accertify: SaaS Solutions for Combating E-Commerce Transaction Fraud

The digital world that advances the human race with revolutionary innovations has experienced downsides too. As per figures released by Javelin Strategy & Research, around $16 billion was lost in online fraud last year. That number is a clear indication for the need of fraud management platforms that can protect businesses from suffering losses. One company that provides a centralized platform to manage and protect e-commerce businesses from a wide range of online fraud is Accertify—a wholly owned subsidiary of American Express. The Illinois-based company leads the way with its innovative fraud solutions, expertise, and trust.

“Accertify renders highly configurable modular solutions that can work as standalone, or work in tandem with each other to best meet a merchant’s needs,” notes Mark Dawes, Regional GM- APAC at Accertify. A robust, scalable, and easy-to-use software-as-a-service platform forms the foundation of the company’s innovative offerings. The Accertify^® Fraud Management platform puts the customer in control to help identify and prevent account takeovers, account originations schemes, and payment fraud. Accertify^® Profile Builder adds to it, drawing out patterns from large quantities of transaction data and assisting an organization to distinguish good transactions from fraudulent ones. But, even with precautionary measures in place, companies may still face chargebacks from legitimate customers who fraudulently dispute transactions.

Accertify^® Chargeback Management helps to reduce chargeback response time by leveraging data analytics to efficiently locate and compile the information the merchant needs to help win the chargeback. Minimizing fraudulent losses and generating revenues by identifying good transactions without eliminating the ones that look fraudulent, but are actually legitimate, defines the selling point of Accertify. Its highly configurable and sophisticated platform connects to multiple third-party data validation service providers extending consumers the flexibility of choices in availing secure services for specialist fraud detection. New rules for the platform can be effectively tested using its Rules Sandbox before deploying them in real environments.

With an aim to protect clients rather than being just another solution provider, the company offers services such as consulting, training, fraud and chargeback performance review services, and a host of other managed services. The mass aggregation of transactional data and team expertise in statistics benefit customer organizations in risk modeling and management. Logistic regression and machine learning models with rule optimization improves predictive results, boosts operating efficiencies, and lowers fraud rates.

Constructing unique and continual relationships with customers, informed by regular feedback, drives the fundamental culture of Accertify. With its stance of being the fraud management professionals in all types of online fraud, the company boasts a team with deep expertise in the domains it caters its services to. The team understands problems and deciphers how the problem manifests itself in the data and strives to continuously upgrade its solutions to incorporate newer technologies like machine learning. “We have certified professionals who can dive very deep into different types of fraud management, and that’s a very crucial element to our success,” concludes Dawes.