IBM Security Trusteer

Click Here to Disallow Fraud! Learn How ReTrust Helps Deliver a Frictionless Customer Experience

By Gregor Frimodt-Moeller posted Thu February 27, 2020 10:18 AM

  
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Is it possible to protect your customers while giving them a frictionless experience on your site or app? And can you keep fraudsters away without impacting the customer journey?

These are some of the most relevant questions businesses of today ask themselves, because fraud is now a very big concern for online businesses. After all, this is where the money is — and so it's where the fraudsters are.

There is a need to rethink online security as well as a need to build a new defense methodology. If a business is victim of fraud, it often takes double hit — because in most cases, not only the business has been defrauded, but a customer has as well. The business needs to restore what was lost and thus suffers two losses simultaneously.

So wouldn’t it just be easier if you could press a button called ‘Disallow fraud’?

To press that button would mean to build digital trust with your customers, while getting access to registered fraudsters. Having all of this in one intelligent system that will help you along the way and not interfere with the user experience of the true customers is the goal. This is done by building a risk score and a trust score. If a session on your website exceeds the allowed risk score, the fraudster will be contained, because this is all done in real-time, giving you a safety net, which will get your true customers where they need to be, while containing fraudsters and keeping them from defrauding you and your customers.

ReTrust builds risk and trust scores to improve your customer experience.

ReTrust is security software that prevents fraud and creates a frictionless customer experience. It keeps people with malicious intent from accessing your website, applications and – just as important – your clients’ data.

With a trust score, we will get to ‘know’ your existing customers, meaning that the AI will make a profile of their behaviour and their patterns. Over time, we will be able to recognise them which, in return, will give them an easy login process, not bothering them too much with unnecessary 2FA procedures, etc. This also creates much less friction and gives your app/website a competitive edge.

With your new customers, on the other hand, ReTrust builds a risk score, where the AI will draw on more than 120+ known identifiers, such as global device ID, network, user attributes, language, geolocation, behavioural biometrics and even a global database of fraudsters — making sure that when the risk score reaches a certain point, this service will get the fraudster off the site. The service consists of an intelligence database being fed by 45+ billion web sessions per month. And rest assured that we will very likely identify the bad guy over the good guy any day. 

 

Both the trust score and the risk score are built from the five markers shown above. Combining knowledge from all five gives you an insight into the intention of the user – letting in those with good intentions and preventing fraudsters from using your site for their crimes.

This is all a very important step to increase customer experiences and securing their journey, particularly in light of a newly launched customer survey from Riskified that shows that almost every third user who is challenged to verify their identity in retail will abandon the app, making you more vulnerable to your competitors.



The solution is based on IBM Security Trusteer and delivered as-a-Service. And with it, you’ll be a step closer to delivering a frictionless experience to your customers. Want to know more about how it works? Visit ReTrust Global to learn more about our mission to keep fraudsters at bay.

If you want to learn more, feel free to drop me an email at gm@anycloud.dk or head over to https://retrust.global for additional information.


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Thu May 07, 2020 11:22 AM

Congratulations to any.cloud on being an Official IBM 2020 Geography Excellence award winner! IBM chose any.cloud for its innovation in launching the ReTrust service, based on Trusteer. Outstanding! Check out Gregor's exciting LinkedIn post: here

Mon March 02, 2020 07:19 AM

I love this - a "Disallow Fraud" button via as-a-service based on Trusteer. And Retail, with digital abandonment at 1 in 3, seems in clear need of it (in 1990 shoppers voted with their feet; in 2020 with their fingers, 'eh?). Thanks for an informative, succinct and well articulated piece, Gregor.​