As e-commerce transaction volumes increase across the Web and mobile channels and new alternative payments emerge, the ability to identify and prevent fraud losses is becoming more difficult. In addition, the arrival of EMV chip-based cards in the U.S. is expected to drive a significant surge in card-not-present (CNP) fraud in the next three to five years.
Adaptive Authentication for eCommerce is a risk-based authentication solution in the 3D Secure ecosystem, which significantly increases fraud detection as well as dramatically improves the cardholder experience through the elimination of passwords, protecting even more revenue by reducing shopping cart abandonment. Adaptive Authentication for eCommerce boasts consistently high fraud detection rates of approximately 95%, achieved with extremely low intervention and false positive rates and saving issuers an average of over $3 million a month in fraud losses.
The solution leverages the proven RSA Risk Engine which applies machine learning to fraud detection. The Risk Engine analyzes over one hundred risk indicators to determine the probability that a transaction is fraudulent. The Risk Engine learns from past behavior and rapidly adjusts on the fly to predict and protect against future attacks. This agility is incredibly important in today’s landscape where cybercriminals move quickly and compromised payment cards are constantly flooding the black market.
RSA also provides collaborative real-time information sharing of fraud-connected data through the eFraudNetwork, one of the core inputs to the Risk Engine. The eFraudNetwork provides actionable information that can be used in identifying risk including whether a card or range of cards has been used in connection with fraudulent transactions or whether particular merchants are more likely to be targeted by fraud.
The Policy Manager gives issuers the best of both worlds: RSA’s highly valuable fraud expertise and knowledge and the ability to exercise control over the 3D Secure environment using a rules engine. With the Policy Manager, issuers can apply business logic on top of RSA’s integrated fraud detection capabilities. This is a powerful feature that allows issuers to use inputs, including the risk score, to make recommendations and take action on high-risk cases.
“With this new solution, we’ve not only accelerated our ability to identify and respond to fraud threats now, but we’re also able to gain better visibility into emerging trends so we can be better prepared to combat new threats as they develop.”
Head of Fraud and Anti-Money Laundering Services, Indue
Identify high-risk logins and fraudulent transactions with risk-based authentication.
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