Smooth, frictionless transactions for your customers are key to maintaining their trust and loyalty. With Experian data, tools, and analytics, you can track account activities and transactions in real time to minimize fraud — without impacting the customer experience. Automatically analyze every transaction to determine the level of risk, applying all relevant data to make the best decisions, with confidence. You’ll reduce fraud losses and your overall attack rate, while providing customers the personalized service they expect.
To enable the best possible customer transactions, it’s important to consider not only the needs and experiences of your own business, but customer needs as well. We understand that balance, and are here to help you achieve both.
What does your business need to do?
- Accurately assess customers before approving account-level activities
- Process good transactions quickly, while preventing fraud
- Automatically analyze every transaction to determine the level of risk
- Reduce hold times and customer complaints
- Minimise manual reviews and outbound verifications to reduce operational costs
Case Study - Transactions: Card Not Present and Account Activities
Who is the Client?
Since it launched in 2007, this airline has relied on a business strategy built around the customer experience. Because of this strategy, the company now carries more than six million passengers and serves 23 markets. The airline’s customers overwhelmingly prefer shopping online, with 75 percent of tickets purchased online.
The airline's online success led to a rise in fraudulent ticket orders, resulting in an increase in chargebacks from 1.33 percent of transactions to 1.4 percent in just two months, totaling $2 million. It was crucial for the company to quickly address the problem and reduce the chargeback rate.
The client chose Experian’s solution to effectively manage the increasing fraud without impacting the online customer experience. The product was rapidly deployed in a 90-day window with almost no impact on the airline’s IT infrastructure, and with minimal maintenance and support requirements.
Within hours of going live, Experian demonstrated its value by identifying and cancelling 37 fraudulent tickets that had not yet been used. Within just three months, investigators used the solution to reduce chargebacks by 73 percent— from 1.40 percent of transactions to less than .10 percent. The airline has saved a total of $19 million to date and its annual savings have continued to increase, rising to its most recent $6.6 million.
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How It’s Done
Experian provides the technology and techniques you need to quickly analyze every transaction to determine the level of risk and process good transactions without delay.
Working completely behind the scenes to provide a frictionless customer experience, investigators use powerful tools to rapidly determine if the risk of fulfilling outweighs potential profit. We apply trust scores to reduce the need for additional validation checks during checkout.
Experian offers a unique combination of data, analytics, platforms and expertise you need to effectively manage fraud and identity.