When it comes to fighting back against current and emerging ecommerce fraud threats, our mantra is simple: you’re not alone. Adopting a multi-layered approach to your fraud prevention strategy is key. A recent survey found that 70% of companies use three or more tools to help strike the right balance between ecommerce fraud prevention efforts and a smooth consumer experience at each touchpoint.
Deploying best-in-class tools and features, including machine learning algorithms, AI technologies, risk-scoring abilities, behavioral element analysis and rich data networks enable merchants to make faster, more confident risk decisions about consumers at both onboarding and transaction. As always, be sure you enlist only those solutions that do not negatively impact your good customers. Indeed, the right identity verification solution will keep your customer experience front of mind, streamlining their workflow according to their fraud risk profile. Because, in an ever-crowded marketplace, customer loyalty matters as much as ecommerce fraud prevention.
