Fraud managers can access SEON’s new Intelligence Tool via downloadable Chrome extension or API.

SEON

SEON, the fraud fighters, has recently announced the launch of the latest version of its self-service Intelligence Tool. The solution is an industry first and allows merchants to integrate the tool on their own within minutes, simply by downloading a Chrome extension.  This allows SEON customers to receive help and intelligence immediately, before even speaking to a SEON advisor.

The unique and innovative tool gives businesses instant access to rich data taken from the email, phone number or IP addresses they gather from customers, while allowing them to collect all accessible data points about a customer's digital footprint from social media profiles, available via open sources in the public domain. This is all done in actual real time, removing the need for outdated databases. This fast data enrichment helps risk managers to do their job faster, while relieving friction from the buying experience, as the customer's identity can be verified without the need for an ID check. Throwaway accounts or purchases coming from a data centre can be caught with a click of a button, something that legacy fraud systems still struggle to do effectively.

Uniquely, the intelligence tool also checks whether the customer’s information was involved in known data breaches, giving an overall idea of the age and legitimacy of the account to relevant decision makers at the press of a button.

The new tool can be integrated to work alongside a business’s existing fraud tools as well as working seamlessly with SEON's award winning fraud prevention platform and has a seven-day free trial, giving fraud managers a level of commercial flexibility previously unseen in the industry. Digital footprint analysis is increasingly used in risk management with great success by companies and operators who wish to bypass the burdens on the buyer that are required by more traditional verification methods, or who operate in markets where such identification papers are not available at all.

SEON’s CEO and founder, Tamas Kadar, explained from his London HQ: “We launched SEON because the existing fraud prevention tools are not fit for purpose for the levels of intelligent fraud that we are all facing. In addition, when we created the Intelligence Tool, we wanted to produce a great solution that is loved by its users. It makes life much easier for fraud managers or anyone looking to safeguard transactions, giving them round-the-clock access to a platform which contains all the information needed to fight fraud.”

Set up by digital natives straight out of one of Europe’s leading universities – Corvinus University in Budapest – the company has already experienced rapid growth in the first two-and-a-half years of its life and its platform is being used by over 5,000 merchants. Already, its Intelligence Tool is being used by 50 percent of these businesses, including notable merchants such as KLM, Air France and AVIS.

Moving forward, SEON will continue to add more and more social networks to its Intelligence Tool, giving businesses even more access to data that helps establish customers’ digital footprints. In addition, it aims to grant even easier access to SEON’s services with its new product-led strategy.

Learn more about the tool here.