Transaction Risk API
Maximize Approval Rates, Improve Transaction Security and Fight Payment Fraud
Transaction Risk API provides payment operations teams critical insights into client-provided identity information to reduce friction and improve customer experience while keeping fraud at bay.
How it Works
Provide transaction details (of up to 26 inputs) and receive critical insights around individual and combinations of data points to help you confidently assess the risk of a single transaction.
Leverage seven proprietary signals around primary and secondary emails (email first seen) and addresses (address first seen), as well as the location address (IP last seen), phone (phone last seen), and combination of phone and IP provided (phone IP last seen) to improve accuracy of your fraud models.
Validity Checks for Payment Details
Evaluate the authenticity of billing and shipping details such as email, phone, address provided by the customer.
Enriched Phone Metadata
Gain insight into the line type of the phone number, which can often be a strong indicator of fraud.
IP Distance from Address Calculations
Gauge the distance between your customer’s IP and their provided addresses.
Risk Flags and Scores
Leverage model-derived signals such as Identity Risk Score (otherwise known as Transaction Risk Score), Identity Network Score, and IP Risk flag, in your risk models to predict the riskiness of a customer.
Match Statuses to Name
Confirm that the email(s), phone(s), and addresses provided in the transaction are associated with the customer name.
Transaction Risk API Solves For
Reducing False Declines
Every online transaction must pass through several gateways before it is approved, with filters at each step configured to spot the indicators of fraud. If you are able to catch fraud early on, you will not only reduce the number of fraudulent transactions through the workflow but you will also minimize the number of good transactions to be falsely declined.
Preventing Fraudulent Transactions
By catching fraud in the purchase process, you can save your business the cost of the lost transaction as well as reduce chargebacks and the associated fees.
Utilize Top Predictability Data
Predict fraud quickly at enterprise-level volumes through signals provided by the Ekata Identity Engine.
Increase Approval Rates
Rapidly increase revenue by automating the acceptance of low-risk orders to boost overall approval rates from good customers.
Stop Fraud Early
Reduce downstream costs by pinpointing risky transactions early in the approval workflow.
Optimize Digital Customer Experience
Provide a fast and trusted experience to increase your customer base, improve retention, boost customer lifetime value and sales.
Friction – Friend or Foe? How to Balance Fraud Prevention with Customer Experience
With cybercrime expected to cost US$10.5 trillion globally by 2025, implementing friction to protect your business from fraud, chargebacks, and other revenue-killing activities is vital. In this eBook, Ekata examines digital purchasing friction from the merchant and customer perspectives to learn how each understands and defines friction and explore how merchants can reduce friction strategically, balancing fraud prevention and customer experience.
Gartner Market Guide for Identity Proofing and Affirmation Report
High-risk, remote digital interactions are now taking place more than ever before; from opening new accounts, to accessing bank accounts, and more. Data-centric affirmation is no longer enough. Fraud leaders must deploy a layered, orchestrated approach to fight fraud. We invite you to read up on the latest Gartner recommendations and Ekata is named as a Representative Vendor.
How Stopping Fraud Early Can Increase Your Bottom Line
As the digital world continues to evolve, merchants are battling various types of fraud to protect both their customers and their bottom line. As fraudsters become more sophisticated and target businesses even earlier in the transaction process, merchants need to take a multi-layered approach to weed out bad actors and bad transactions. Learn about why identifying fraud early in the transaction process helps eliminate the less obvious fraud costs for many merchants.
Contact an Expert
See how Transaction Risk API can increase revenue for your business. Contact us today.