Why Your Business Needs Fraud Analytics

Lower accuracy: &nbsp;Most traditional fraud prevention approaches like rules-based systems and fraud risk scoring focus on individual transactions.&nbsp; Merchants can lose up to 75x more revenue to false declines than they do to fraud.
Gaps among tools: &nbsp;In general, traditional fraud prevention tools rely on siloed data and lack the ability to coordinate with each other. If you piece together different fraud prevention tools you run the risk of leaving gaps that fraudsters could easily exploit.
Scalability issues: &nbsp;Standalone tools that were not designed to work together are difficult to scale. Imagine having to scale dozens of individual fraud prevention tools&nbsp; during peak periods &nbsp;or for flash sales.
Reactive not proactive: &nbsp;Legacy fraud prevention tools tend to be reactive rather than proactive. Reactive approaches can&rsquo;t stop new and evolving fraud, or meet the challenges of more sophisticated methods of fraud and abuse.

Technology
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The number of online transactions has risen dramatically in recent months as a vast majority of consumers shifted from shopping primarily in-store to shopping online. Fraudsters have noticed the rise in digital transactions and merchants expanding to new channels, services, and markets. As more merchants begin a digital transformation, fraudsters have become more innovative, finding new and faster ways to commit fraud and abuse, as well as new vulnerabilities in underprotected areas of....

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