Online fraud prevention for travel in 5 steps
Payment fraud prevention is expensive. Not only do you have to pay for chargebacks and suffer from lost business due to false positive rejections, but also your business is hampered by ever-growing manual review costs. All of these are especially high for travel players.
Exhaustive user profiling data
Understand every traveller
Nethone’s Profiler gathers over 5,000 attributes about every single end-user session throughout your direct channels. It exhausts “here and now” information potential by exposing the lowest level details regarding user device, network characteristics, and raw behaviour associated with keystrokes, mouse and accelerometer. Consequently, you will be protected from any emulation, virtualization, anonymization and spoofing attempts.
Only transactional data is gathered today
We have found that, on average, merchants in the travel sector are using less than 100 variables for detecting fraud. The more relevant data you have at your disposal, the more accurate you can be when detecting and preventing fraud. The more accurate you are, the fewer false positives and chargebacks.
Add more data to our data-hub
When a traveller submits their purchase, be it post-auth or pre-auth, your back-end system transmits transactional data to Nethone. Our hub gathers data from Nethone’s Profiler, the merchant, and a long list of specialized TPPs. This gives Nethone a 360⁰ view on each passenger to make the best decision possible.
Your current solution is not flexible and powerful enough
Existing fraud prevention solutions are not able to take into account critical information such as “here-and-now” profiling data including but not limited to raw behavioural streams, web events or a large subset of third-party data. This is by default available to all of our merchants, only fingertips away thanks to REST API integration.
Machine Learning & other algorithms
Pull more information thanks to our explainable Machine Learning
We obtain at least 5,000 variables about every transaction attempt, the only method capable of taking advantage of all that data effectively is Machine Learning. At Nethone we are obsessed with constantly pushing the technological forefront by creating custom procedures of both treating our unique data sets, but also deriving understanding why a certain recommendation has been made.
You are still using basic heuristics and manual rules sets
Your teams are currently building rules to prevent fraud. Although heuristics can be effective in the short term, they generate false positives over the long term. Since fraud changes constantly, it’s necessary to use decisioning techniques which adapt quickly.
Assigned Data Scientist
Have access to human ingenuity via a dedicated Data Scientist
We believe that a machine alone is not yet capable of solving fraud; this is why each of our merchants has a dedicated Data Scientist at their disposal who is responsible for building, maintaining and calibrating the ML predictive models which are protecting them from fraud.
You only get access to customer support
You don’t just get access to customer support with us, you get access to the Data Scientist who is responsible for your decisioning logic. We believe that giving you access to the best analysts in the world will allow your fraud prevention team to create ground-breaking fraud prevention strategies which will move forward fraud prevention, unlocking new trajectories of growth while keeping risks at a desirable level.
Intuitive Panel by Nethone
Visualize and manipulate all of your fraud-related data
We automate what is automatable, hence liberating lots of time of your manual review teams. Thanks to our UX-friendly back office panel they are better equipped to fight the non-trivial cases that require their attention and experience.
You have access only to basic information
The panel you typically have displays less than 100 metrics. This gives you a limited view of what is happening within your online channels and gives your manual review teams insufficient information to make an informed decision. Manual review is expensive, we believe that giving the best tools to your teams is important.
Examples of how we saved clients time, which is money. We also saved them "just" money too.
Nethone has been able to read the intentions of our customers in real time which has allowed us to contain the fraud problem, streamline our operational costs and boost our conversion rates.
We are very excited to see Nethone's behavioural analysis capabilities in action. We expect them to help us in many areas including payment fraud prevention.