As businesses move increasingly online, fraud has grown exponentially. Companies report millions of dollars in fraud losses annually—and fraudsters are only getting more efficient. Yet, companies are often a step behind, deploying incomplete solutions that result in fraud going undiscovered until long after the damage has already been done.
A Better Approach to Fraud
An integrated fraud prevention solution monitors user behavior and device signals throughout each user session, assesses risk, and automatically makes fraud mitigation decisions in real time, isolating fraudulent sessions without disturbing legitimate users.
Why is Fraud Prevention Important Today?
COVID-19 permanently changed the business landscape by driving consumers online. Online fraud has grown right alongside online spending and threatens increased losses for businesses.
With bots and bad actors accosting businesses from all sides, many fraudulent transactions slip under the radar until long after they have been completed. This results in resolution costing companies on average three times as much as the sum of the initial transaction.
Heavy-handed security measures may decrease fraud but they also cause companies to lose frustrated customers. Modern fraud detection and prevention must balance subtlety with efficiency.
Make Better Mitigation Decisions
Set up automated, effective fraud mitigation by taking advantage of centralized fraud decisioning and orchestration. Evaluate every session for fraud risk and implement business policies that can kick off mitigation at any point throughout the customer journey. Introduce friction into suspicious sessions without disturbing legitimate customers.
Did you know?
of organizations do not have the right technologies to mitigate online financial fraud.
Successfully combating online fraud requires understanding how and where fraud is occurring as well as mitigating its effects in real time and constantly improving your security posture. Use this insight to orchestrate seamless customer journeys for your legitimate users while shutting down fraudsters at the same time.
Scan all interactions for fraud risk, starting before login and continuing throughout the session.
Aggregate multiple fraud signals into a single risk score and make fraud mitigation decisions.
Deploy user journeys that integrate fraud prevention at key points throughout the session and send legitimate users down an easy path while challenging suspicious users.
Step up security for suspicious sessions, gaining greater confidence in the identity and intent of users.
Ping is a Leader in Converged Access Management, Identity Proofing and Fraud Detection Capabilities
How Ping Helped Gett Solve Five Evolving Fraud Use Cases with Just One Solution
Gett has increased detection of suspicious activities that were invisible to legacy fraud detection tools by more than 120 percent. With each new generation of fraud, Ping captured increasing numbers of suspicious events. By detecting new account fraud with emulators, fraud detection within Gett’s enterprise increased by 62 percent.