Stopping Fraud with Real-Time Analytics and Reporting

Machine learning-based fraud prevention and risk management solutions provider Sift Science announced the release of Sift Insights, a reporting suite integrated with the Sift Science Digital Trust Platform. The platform uses real-time analytics to provide fraud operations teams and business executives with the tools to see how fraud and abuse affect:

• Revenue
• Customer experiences
• Operations

Fraud: A Global Concern

A 2017 MRC Global Fraud survey found that 68% of the group’s members said improving analytics is one of their top priorities. However, 38% admitted they only track chargebacks, nothing else. Another report published by the Association of Certified Fraud Examiners found that 39% of respondents conduct zero analysis to evaluate performance or risk.

See also: Fraud detection market to top $40 million by 2023

“Businesses know they need to measure fraud and implement abuse prevention tactics, but they often lack visibility into fraudsters’ behavior and performance of their fraud teams,” says Jason Tan, CEO and Co-Founder of Sift Science.

Fraud managers want to know a range of data points, including:

• When fraud happens
• How fraud trends shift in time
• How companies can most effectively allocate budgets and resources

Organizations who use Sift Insights gain access to the insights they need to fight abuse and resolve operational challenges.

Real-Time Analytics Pinpoint Fraud

Sift Insights dashboards enable fraud teams to conduct real-time operations monitoring and generate historical insights to enhance decision making. Marketplaces, online retailers, and online communities all benefit from this information.

Sift Insights enable fraud managers to:

• Gain the full picture – Understand the total impact of fraud with centralized information about all the fraud the company faces.
• Optimize operations – Make smarter decisions and build better rules using built-in reports on analyst performance and business logic.
• Empower the team with knowledge – Export reports to customize analysis, and tune countering efforts based on team KPIs.