The leading providers of customer ID check solutions and transactional fraud profiling data have today announced that they will share their anti-fraud technologies to offer a unique anti-fraud service to the fraud prevention community.
192.com Business Services is a specialist in aggregating databases against which leading ecommerce providers run customer identity checks. The 3rd Man is a leading provider of fraud screening services which detect fraud patterns by comparing transactions from different merchants. Fraud prevention tools provided by both companies have become accepted as de facto processes for the ecommerce industry and will now be offered as one single integrated service.
Other recent initiatives in the market have been focussed on either ID checking or on profiling shared fraud alert data but not on both. This relationship brings both tools into a single solution. For the merchant, this is key, as it means implementing a single technical interface in order to receive the benefit of a combined ID and pooled data solution.
"Our mutual aim is to make life easier for fraud managers at ecommerce sites" said Paul Simms, chief executive officer at The 3rd Man. "192 and The 3rd Man deliver fraud prevention techniques into more than two thirds of the UK's ecommerce industry. By combining our fraud prevention technologies we can offer one integrated solution that will be more effective in identifying and preventing fraud".
Commenting on the announcement, Ian Green, director at 192 said "There has been much talk about data sharing initiatives recently. Data sharing on its own is not a silver bullet but when coupled with customer identity verification the solution becomes immensely effective. The large existing customer base of 192 and The 3rd Man will be able to participate with minimal technical investment"
Ecommerce sites now need to integrate only one fraud prevention tool into their site so this is a massive step forward for the industry. The dual ID check and fraud screening solution will be available either from 192 or from The 3rd Man.