Universum and Risk Ident team up in fraud-busting alliance

Source: Risk Ident

Effective immediately, RISK IDENT’s proprietary anti-fraud technology, FRIDA, will enable the UNIVERSUM Group to better protect its retailers from online fraud, evaluating every incoming transaction for various fraud patterns.

By automatically linking and interpreting data in real time, transactions suspected of fraud are identified based on accountable evaluations and can be stopped immediately. Self-learning algorithms also detect new fraud scenarios before they become a threat to the respective online merchant, helping stop future fraud.

In addition to evaluating individual transactions, the UNIVERSUM Group will also be deploying DEVICE IDENT to identify each end device used to place orders, based on its unique features. The device fingerprinting technology is then able to establish an even more efficient connection between fraudulent transactions.

The integration is simple for UNIVERSUM Group customers, as no software needs to be installed. The DEVICE IDENT code snippet is integrated within the checkout, allowing devices to be analyzed in the background in real time, using the latest technologies.

“We are really looking forward to future cooperation. Above all, our retailers will benefit from this partnership: RISK IDENT is the market leader in the fraud prevention sector, and will help improve the UNIVERSUM Group’s risk evaluation. FRIDA is the optimal supplement to the classic credit check process, as identity theft detection through traditional credit assessment procedures is not covered in this way,” said Ralf Linden, Managing Director of Sales & Marketing of the UNIVERSUM Group.

As Roberto Valerio, CEO of RISK IDENT, explains, “By using our FRIDA software, the UNIVERSUM Group has the ability to prevent fraud even more efficiently and identify significantly more cases of fraud in real time. We very much look forward to working together to detect fraudulent activities at an early stage and to protect online merchants from fraud and loss of revenue.”  

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