Can your business spot the good from the bad?

Detect and prevent Card Not Present (CNP) fraud: protect customers, reduce losses and maintain a seamless customer journey
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CNP Fraud Solutions

According to UK Finance’s latest research, criminals stole a total of £726.9 million through unauthorised fraud and scams, with almost 3 million cases recorded.

Fraudsters have become increasingly clever at adapting their attacks in response to changes in our daily habits and consumer behaviours. In particular, criminals have continued to focus on socially engineering their victims to trick them into authorising a payment to an account within their control – known as APP fraud. That said, Card Not Present (CNP) fraud still contributes the majority of unauthorised losses with £395.7 million reported.

It’s essential that Banks, Payment Processors, and Retailers continue to have a robust card fraud defence solution in place as part of their fraud prevention strategy. So, what steps can financial institutions take to reduce card fraud without introducing too much friction into their payment processes?

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Balancing strong customer authentication and a seamless customer experience

LexisNexis® Risk Solutions is actively supporting financial services companies, across the payment journey, to enhance their CNP risk decisions through a range of low-friction, fully integrated authentication strategies that are compliant with strong customer authentication workflows. By improving card authentication risk analysis we can help to reduce the likelihood of CNP fraud impacting your organisation, which in turn can reduce your Transaction Risk Assessment (TRA) rates – thereby reducing customer friction, through a combination of factors..

Strong Device Binding

Device binding allows users to transact with online services without being subjected to repetitive authentication processes on each return. Reliable and consistent verification of a trusted transacting device is achieved by registering the device and binding it with a user credential.

Email Address Intelligence

Understanding the age of an email address and domain, associations between a name and an email address, and any suspicious activities linked to either, is key in assuring digital identity and transactions, and reducing fraud risk. Our email risk assessment tools draw from a contributory global database of more than five billion addresses helping verify both trusted email addresses and those linked to previous instances of fraud.

Behavioural Biometrics

Behavioural biometrics is the study of an online user’s interactions with their desktop, mobile or laptop device, via their keyboard, mouse and/or touchscreen. When layered with digital identity intelligence, behavioural biometrics can create a new shade in the spectrum of identity; helping businesses to assess trust and risk and differentiate fraudster from legitimate customer, and human from bot.

Online Document Authentication

Enhance customer experience and accelerate onboarding by replacing paper-based ID processes and putting identity assurance into your customers’ hands. Our solutions use up to 50 different text and image-based tests to determine authenticity of the document, including checking the ID against over 4,000 ID types from nearly 200 countries.

One-Time Passwords

Carry out reliable identity assurance on new and returning customers with an automatically generated, time-sensitive passcode, made up of random numeric characters and sent via a phone number, SMS or email address already bound to the subject. This offers increased assurance with less friction during an identity proofing process.

Knowledge-Based Authentication

Built with intelligent algorithms and accessing billions of consumer records, Knowledge-Based Authentication (KBA) dynamically develops personal questions with multiple answers to authenticate a user’s identity. Dynamic KBA generates questions in near real time from public records and multiple credit bureau data, without requiring prior contact with customers.

The benefits:

  • Reduced losses to CNP or remote purchase fraud
  • Improved dynamic card authentication risk assessment
  • Increased levels of 3DS2.0 exemption and delegated authentication capability
  • Reduced false positives - in relation to flagged payments
  • Improved customer experience for Merchants

Improve your CNP risk decisions further with real time decision analytics uniting market leading behavioural analytics with clear-box machine learning for modelling current and future customer behaviours, with integrated case management for exception handling and high-risk reviews

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Solutions Guide:
Card Not Present Fraud Prevention

This guide offers an in-depth explanation of how harnessing the correct intelligence and analytics enables the creation of a remote purchase transaction authentication capability that can transform your ability to reduce fraud and minimise cart abandonment/payment friction.
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Related Resources

Case Study: Dai Nippon Printing

LexisNexis® ThreatMetrix® helps Dai Nippon Printing (DNP) secure card-not-present (CNP) payments, reducing fraud losses in the 3-D Secure (3DS) transaction authentication workflow.

White Paper: Using LexisNexis® Risk Solutions to enhance risk decisions in the
3-D Secure customer journey

Digital commerce is one of the key driving forces behind the growth of global economies.

Article: Creating a Single Customer View with NatWest

LexisNexis® Risk Solutions supported NatWest in creating a single, joined-up view of customer risk in order to detect CNP social engineering scams.

See how we can help your organisation to prevent CNP fraud while providing a seamless customer experience

Book a free, no-obligation consultation to find out more.