”The growth in fraud, as well as the sophisticated forms that attacks take, forces payments ecosystem participants to seek innovative and disruptive solutions to reduce fraud and make manual processes more efficient, without sacrificing customer experience.”
Juan Carlos Viramontes, Chief Executive Officer, MIT
MIT wanted to enhance their fraud prevention across its merchant portfolio.
MIT needed a solution to detect and stop more fraud and reduce their false alerts and chargebacks, but they also wanted to increase transaction acceptance and improve operational efficiencies.
- Detect anomalies in an individual’s behavior that indicate fraudulent activity, as it occurs.
- Dramatically reduce the number of genuine customers who are blocked in an attempt to catch fraud.
- Understand behavior in real-time, to reduce the number of false alerts being investigated.
Featurespace’s ARIC™ platform will provide MIT with monitoring capabilities and market-leading risk visibility across its merchant portfolio for increased fraud detection, reduced false alerts, and improved operational efficiencies.
MIT will improve merchant and customer protection from fraud attacks, without impacting the customer experience and improving transaction acceptance with the help of ARIC.