ITASCA, Ill., May 3, 2018 /PRNewswire/ -- Accertify, Inc., a leading provider of fraud solutions for merchants, airlines and financial institutions, today announced the launch of its latest proprietary machine learning capabilities that now include dynamic risk vectors – a technology which aggregates and transforms information from a diverse set of sources to identify emerging fraud risks and attacks.
These new risk vectors are a powerful extension to Accertify's existing machine learning capabilities. The dynamic risk vectors leverage information from those members of Accertify's client community that opt to participate in the service, in which new variables are created to identify fraud trends as they evolve. Variables include real-time fraud trends by location and with specific airline routes.
"This advanced capability aggregates and creates new predictive variables dynamically with fraud signals from transactions across participating Accertify customers," said Randy Ruiz, Chief Technology Officer, Accertify. "We are constantly focused on developing new and innovative ways to leverage the billions of transactions we analyze to enhance our artificial intelligence capabilities and help deliver improved results for our customers. These dynamic risk vectors are the latest evolution of our approach."
Accertify recently launched the use of dynamic risk vectors in the airline segment. The early performance has been promising, said Jeff Wixted, Head of Product, Accertify. "Within two months, one airline saw an additional 80% increase in the amount of fraud prevented while another airline experienced a 40% reduction in the volume of transactions they needed to manually review."
Accertify is expanding its enhanced machine learning models to the retail and digital marketplace verticals.
Accertify, Inc., a wholly-owned subsidiary of American Express, is a leading provider of fraud prevention, 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.
SOURCE Accertify, Inc.