Best Overall Fraud/Security Solution
With its recognition as the Customer Choice Award winner for Best Overall Fraud/Security Solution this year, Kount is one of only two companies to be honored with at least one crystal trophy every year since the inception of the CNP Awards in 2012.
Since it was founded in 2007, Kount has built an extensive portfolio of more than 30 patented technologies, many of which have become industry standards. They include multi-layer device fingerprinting, which detects the device used for an online transaction; proxy piercer, a technology that pierces or circumvents the IP proxy to determine exactly where the user attempting to make a transaction is located; and persona, which enables Kount to see how cybercriminals interact globally to determine when stolen data is being used to make transactions or create “synthetic IDs” using stolen data.
According to the company, its Kount Complete solution protects some of the world’s best-known brands from online fraud including Crate & Barrel, Progressive Insurance, Staples, United, and Verizon, preventing billions in losses last year alone. Partnerships with world-class payment service providers like Braintree/PayPal and Chase Paymentech have made Kount available to thousands of merchants.
While its fraud solution is comprehensive and scalable enough for large brands, implementing and using Kount is intuitive enough for small and medium-sized companies to have the advantages of enterprise-level fraud protection, the company says.
Kount notes that its all-in-one approach to fraud protection means integration, training, use and maintenance of the system is simpler, less expensive to operate and provides faster responses (averaging 250 milliseconds) than competitive options. Kount also owns all of its technologies, which it says translates into a seamless purchasing experience for the end customer versus competing fraud offerings that rely on disparate tools and technologies that impact transaction times.
Kount notes that its worldwide customer base declines fewer orders due to the suspicion of fraud - averaging just .08 percent of overall transactions versus a recent survey’s industry average of 2.8 percent. Additionally, Kount customers see an increase in bottom-line revenue of 6.1 percent, the company says.