Chargebacks911 and Microsoft team up to launch fraud protection solution for financial institutions

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Chargebacks911, a post transaction fraud platform, is working with Microsoft to launch a new fraud protection solution for financial institutions that identifies and combats fraud with the use of integrated data and adaptive artificial intelligence (AI) technology.

By combining Chargebacks911’s dispute and chargeback technology with Microsoft Dynamics 365 Fraud Protection, financial institutions get a complete package covering both pre-authorization and post-transaction friendly fraud protection. The solution suite is also available to be white-labelled, providing banks the opportunity to drive added value and loyalty with their customers.

Financial institutions now have the benefit of accessing Chargebacks911’s friendly fraud analytics in tandem with Microsoft’s adaptive artificial intelligence technology, which learns fraud patterns and helps merchants to optimize fraud controls, dramatically reducing loss in post transaction fraud. With this integrated solution, clients will be provided with a combined data feed allowing better decisioning, creating fewer false-positives and higher transaction acceptance rates. The platform also features plug and play connections, significantly reducing the requirement of valuable IT Resources.

The core strengths of the Dynamics 365 and Chargebacks911 fraud detection platform include:

  • Protects revenues by improving the acceptance rate of omni-channel transactions
  • Safeguards user accounts from abuse and fraud by combating fake account creation and account takeover
  • Identifies anomalies and potential fraud returns and discounts arising from omnichannel purchases
  • Provides rich data insights and feedback
  • Accessible ML and AI enabled tools to help detect and resolve friendly fraud behavior
  • Increased automation with end-to-end accountability

In its last Chargeback Field Report, Chargebacks911 emphasized how businesses across many sectors have dealt with an uptick in fraudulent chargeback claims over the last couple of years, and how they can best protect themselves with dedicated solutions that can cut costs and safeguard revenues.

Monica Eaton-Cardone, COO and Co-Founder of Chargebacks911, explains: “Over the last two years, we have seen an increased reliance on digital channels for everyday living. As with any unprecedented change in market conditions, cybercriminals have rushed to take advantage of anxious consumers and unprepared merchants. Dozens of online scams and fraud methods have developed over the last 12 months and are causing additional confusion and losses for both businesses and consumers alike.”

Donald Kossmann, Distinguished Engineer & General Manager, Fraud Protection – Microsoft, says: These tools decrease fraud and abuse, reduce operational expenses, and increase acceptance rates. Together, Chargebacks911 and Microsoft are closing the loop and providing a one-stop, seamless solution for fraud protection, disputes, and chargebacks processing. Over are the days where merchants and banks need to worry about integrating these systems themselves and wondering about the gaps in their armor.”

Microsoft Dynamics 365 Fraud Protection Solution is a suite of capabilities that protect against fraud by providing insights about the risk of fraud for customer-facing interactions.

To learn more about Chargebacks911, visit: https://chargebacks911.com/

Article by SkyParlour

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