Ad hoc-Mitteilungen

Accertify Launches Digital Identity Solution to Battle Increasing Account Opening and Account Takeover Fraud

ITASCA, Ill. --(BUSINESS WIRE)-- Accertify, Inc., a wholly-owned subsidiary of American Express, today announced the launch of a new solution designed to help organizations address the significant rise in fraudulent online account openings and account takeovers. Accertify Digital Identity is a sophisticated API-based solution that empowers organizations to trust and verify who is on the other side of a digital interaction.

Fraudulent account openings, using stolen or fake names and information to open an account, and account takeovers, defined as unauthorized access to accounts, are two types of identity theft that are concerningly on the rise. This fraudulent activity is targeting accounts, including financial, retail, utility, dining, loyalty and rewards. Of the fraud losses from identity theft in 2019, account takeovers trended at the highest loss rate, up 72% from the prior year.1 Moreover, with the severe decline in travel due to Covid-19, consumers may not be checking their loyalty points, rewards and mile accounts as often, making them a more attractive target for account takeover attacks.

“The current rise in digital identity fraud is an important wakeup call that the stakes are high and fraudsters are no longer purely focused on monetizing stolen payment details,” said Mark Michelon, President, Accertify. “By pairing Accertify Digital Identity with our fraud and chargeback management products, we have the first end-to-end protection that helps organizations defend the entire customer digital journey – from account opening, to login, account activity, purchases and chargebacks.”

Accertify Digital Identity analyzes billions of data points using machine learning, advanced behavioral analytics and device intelligence technology to calculate a trust score and associated reason codes for account activity in near real-time to help prevent fraud loss. This solution leverages the power of the Accertify network to identify trusted attributes so organizations can confidently confirm new accounts, while also mitigating or flagging potential risks. It also provides ongoing monitoring of customer accounts to identify unusual activity, such as successive account updates and automated bot attacks.

Accertify’s 12 years of fighting fraud have helped to build rich historical data sets and real-time insights on spend patterns and user behaviors. These insights help organizations predict future fraud trends, enabling them to more effectively and efficiently protect their customers and their business.

For more information about Accertify Digital Identity, visit Accertify.com/ADI

Follow Accertify updates and news on LinkedIn.

About Accertify

Accertify, Inc., a wholly owned subsidiary of American Express, is a leading provider of fraud prevention, digital identity, device intelligence, chargeback management, and payment gateway solutions to customers spanning diverse industries worldwide. Accertify’s suite of products and services help companies grow their business by driving down the total cost of fraud, simplifying business processes, and ultimately increasing revenue. For more information, please visit www.accertify.com.

1 Javelin Strategy and Research, 2020 Identity Fraud Study: Genesis of the Identity Crisis, April 2020.

""

View source version on businesswire.com: https://www.businesswire.com/news/home/20200716005181/en/

(c)Business Wire. All of the news releases contained herein are protected by copyright and other applicable laws, treaties and conventions. Information contained in the releases is furnished by Business Wire's members, who warrant that they are solely responsible for the content, accuracy and originality of the information contained therein. All reproduction, other than for an individual user's personal reference, is prohibited without prior written permission.

Der ARIVA.DE Newsletter
Bleiben Sie informiert mit dem wöchentlichen Marktüberblick.
Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte.