Ethoca and GB Group Join Forces to Combat Fraud
This week, GB Group has announced its partnership with the card-not-present fraud detection specialist Ethoca
Knowing a customer's identity can help a business gain deeper understanding of its customer base and tailor its products and services accordingly. But when identities are exploited for fraudulent transactions, protecting the company and the victim of identity theft is a critical issue.
GB Group combines the concept of identity with technology to establish a trusting environment that helps organisations connect, communicate and transact with customers safely, responsibly and profitably. This, in essence, is identity management and it enables businesses to make informed decisions based on thorough knowledge of consumer identity and behaviour for safer and more effective transactions.
This week, GB Group has announced its partnership with the card-not-present fraud detection specialist Ethoca. The Ethoca service GB group will be offering its customers is the Ethoca360 Negative Signals service. The Negative Signals service has been designed to check card-not-present transactions to establish whether there are matches indicating chargebacks or unwanted negative activities linked to pending orders. It is built to augment merchants' fraud scoring, or used as decision support when manually reviewing orders. Offering single order, batch checking and real-time capabilities, this tool is innovative for online fraud management. "Negative Signals is an additive service and, as such, it is an ideal fit for the complementary identity verification tools and methodologies offered by GB Group," expressed Andre Edelbrock, CEO of Ethoca.
The partnership is a perfect match as GB Group's identity verification service, URU, enables an individual's details to be verified against a multitude of data sets before a decision is made on how best to engage with that individual. URU(tm) provides unique data matching capabilities that authenticate a consumer's identity and age by matching personal information against reference data in the UK (and across the globe) in real time.
By bringing Ethoca360 Negative Signals into the equation, any decision made by a merchant can also be measured according to the potential risk of that transaction.
John Lord, managing director of GB group explained that this partnership fills a necessary gap for their customers who are increasingly concerned about online identity fraud. "Integrating Negative Signals fraud screening into our URU(tm) identity verification service allows our customers to make more informed decisions about card-not-present transactions during the all-important account signup process," said Lord.
Ethoca360 Negative Signals service has recently been made available for free and is the first and only one of its kind. For merchants who sign up now and until further notice, Ethoca has committed to keeping the Negative Signals version of Ethoca360 Signals free forever in an effort to build broader industry collaboration and help stem the massive losses that are suffered to online fraud each year.
