41st Parameter has a proven ability to accurately detect fraud across a diverse range of attack types while increasing revenue, improving efficiency, and preserving the customer experience.
We serve some of the largest financial institutions, e-commerce merchants and travel services providers for whom we deliver reductions in fraud losses and attack rates. Our clients include:
Our customers experience an average of 90% fraud detection lift while reviewing less than 5% of transactions. Customers recognize an ROI typically within 30 to 90 days.
In a world where people are increasingly reliant on a variety of internet-connected devices for everything from banking to booking travel to shopping, preventing online fraud and creating friction-free customer experiences are constant and complex business challenges.
Adding to the complexity, the mobile channel is growing at an unprecedented rate. While this is good news for businesses and consumers alike, the anonymity and privacy regulations associated with mobile devices can make accurate fraud prevention and detection extremely difficult.
Fraud can seem almost impossible to stop with the ever expanding and innovative ways fraudsters compromise customer credentials, such as:
• Session Hijacking
• Man-in-the-Middle (MITM) attacks
• Man-in-the- Browser (MITB) attacks
• Harvesting of Peer-to-Peer (P2P) networks
In order to stay one step ahead of the fraudsters, it is critical to utilize all available data to determine the validity of each transaction. Therefore, it is imperative to have visibility into all devices visiting a website – PCs, tablets, iPhones and Androids, game consoles and even Internet-connected set-top boxes and kitchen appliances.
Since 2004, the industry’s most successful fraud practitioners in financial services and e-commerce have forced a shift in the methodologies and practices being used to fight person-not-present fraud. 41st Parameter helped the industry to understand that fraud prevention did not also mean sales prevention – finding the balance between approving good transactions seamlessly and only reviewing those truly risky transactions. Today, 41st Parameter is recognized for on-going innovation that keeps FraudNet, its suite of hosted fraud detection and prevention solutions, at the forefront of performance for enterprise-class solutions.
FraudNet is proven to be extremely effective in large real-world deployments, scoring several million events per day while maintaining 41st Parameter’s stringent fraud performance standards.
Learn more about 41st Parameter’s solutions at http://www.the41st.com/