Nethone, a data science company specialized in fraud prevention and Business Intelligence, launches globally to help airlines and travel agents reduce chargebacks, cut down manual reviews and boost sales through data-driven business decision making.
The company launches to address the burning problem of fraud that costs travel industry hundreds of millions of dollars annually. Nethone provides truly effective prevention mechanisms against fraud of various kinds, including payment fraud, loyalty fraud, identity theft, geospoofing and more. It also brings a comprehensive suite of data mining tools one can use to obtain unique business insights and apply accurate, frictionless Know Your Customer (KYC) processes. Nethone solutions leverage diverse technologies, including advanced Machine Learning powered by rich data collected from a multitude of sources, User Profiling and unique expertise of the team. The system enables among others:
- in-depth Behaviour Analytics,
- effective detection of location, language and currency manipulation,
- real-time recognition of user account takeover attempts.
Thanks to Nethone, companies all along the travel value chain can automatically and more accurately than ever: discern legitimate transactions from fraud attempts in real time, detect geospoofing, predict numerous indicators and truly data-drive their business.
The solution is able to reduce merchant’s chargeback ratio even fivefold and thanks to the rich evidential data it provides in case of each fraud alert, makes manual reviewing a once-in- a-blue- moon procedure. At the same time, Nethone helps sellers effectively fight false negatives which translates directly into sales increase.
“The idea behind Nethone is to give travel industry a comprehensive suite of Business Intelligence solutions airlines and travel agents can use to simultaneously stem fraud and raise sales through data-driven decisions – said Aleksander Kijek, VP of Operations, Nethone. By comprehensive I mean combining hi-tech, human ingenuity and business insight. We provide whatever is needed in each single case, including the right data and appropriate technologies. Moreover, we do not charge merchants for each technology we apply. Nethone is a one-stop- shop with no hidden fees.”