Overall Fraud/Security Solution
For the second year in a row, Kount has been chosen in a vote of customers as the Best Overall Fraud/Security Solution. The fraud and risk management solution originated with research done by parent company Keynetics for (now sister company) Clickbank back in 1998. After it became clear that any business operating in a card-not-present environment could benefit from it and after years of refinement to the solution, Kount was founded as its own company in 2007. Today, the Kount Complete solution protects some of the world’s best-known brands from online fraud.
According to Kount, one of the main ingredients in its recipe for success is its extremely well integrated technology. Unlike competing solutions that combine standalone products developed by multiple vendors, Kount prides itself on having developed and patented all the core technology it uses to manage the full spectrum of the fraud mitigation process. To date, the company has patented 28 fraud-fighting technologies, and in 2013, it received five patent grants, evidencing an unwavering commitment to innovation.
The company says there are a variety of features that differentiate its solution, but one of the most critical is its use of artificial intelligence. Specifically, it has implemented supervised machine learning to process real-time threat data in conjunction with tactical methods, which allows businesses to identify and disrupt fraud as it is happening. Additionally, Kount produces Risk Scores—calculated by assessing all variables and weighing them against a single standard (versus balancing several scoring methodologies from disparate tools and venders)—which help online merchants to decide how to treat each individual transaction.
In addition to all the ways the company helps merchants save hundreds of millions in fraudulent transactions, it also makes it its business to help merchants drive revenue. Specifically, Kount Complete includes a “big data” business intelligence feature that gives merchants and PSPs more revenue opportunities and enhances the overall customer experience.
In 2013, Kount’s international presence grew so that 35 percent of its customer base now resides outside the US, contributing to a company-wide year-over-year growth of 148 percent.
The company also reports that it improved its average response time by 20 percent, now averaging just under 300 milliseconds.