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Pactera EDGE Launches Digital Fraud Protection Solution: An AI-Powered Engine That Battles Next Gen eCommerce Crime

Pactera EDGE announced the launch of a new Digital Fraud Protection solution that harnesses the power of AI and ML to detect and combat new and increasingly sophisticated forms of eCommerce fraud. Pactera EDGE's Digital Fraud Protection solution addresses purchase protection, account protection, and post-purchase dispute resolution to enhance the customer shopping experience while preventing business revenue loss and bolstering sales operations.

The company will demonstrate its new solution at Merchant Risk Council (MRC) Vegas, the leading conference for the payments and fraud prevention industry, being held at the ARIA Resort and Casino, March 7-12 in Las Vegas, Nevada.

"Our Digital Fraud Protection solution uses adaptive AI technology to spot and prevent eCommerce transactional crimes from taking place," said Pactera EDGE CEO, Venkat Rangapuram, "In addition to preventing revenue and reputational losses from such breaches, our platform also inserts humans in the loop to improve business intelligence and operational efficiencies for our customers. It's truly a game-changing approach."

According to Insider Intelligence, globally, eCommerce sales are expected to reach $6.169 trillion in 2023. The downside to this explosive growth is a surge in online fraud - much of it coming from a new generation of sophisticated hackers. eCommerce businesses stand to lose $130 billion in revenue from a combination of fraudulent, card-not-present transactions, and identity theft. More sobering, this cost estimate doesn't account for the reputational damage a brand faces when a successful attack or security breach occurs.

Pactera EDGE's new solution, which leverages leading fraud detection platforms such as Microsoft's DFP offering, is designed to detect and manage fraud for e-commerce organizations, mitigating the risk of experiencing criminal loss. It utilizes machine learning, profit optimization, and banking relationships to lower chargebacks, decrease false positives, and increase bank acceptance rates.

"Our solution leverages real-time intelligence and best-in-class machine learning models, designed and trained by our global team of risk mitigation experts," said Vasudevan Sundarababu, Sr. Vice President and Head of Digital Engineering at Pactera EDGE. "This important human-in-the-loop approach makes it possible for AI-powered platforms to detect, prevent, and resolve digital fraud events accurately and faster, in turn reducing financial loss and bolstering consumer confidence."

Published Wednesday, March 09, 2022 3:17 PM by David Marshall
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