Kount, which works in fraud prevention and identity trust, has rolled out its new Event-Based Bot Detection solution, which will provide a more comprehensive level of security for eCommerce, according to a press release emailed to PYMNTS.
The new program will work to protect from fraud at all stages of the customer journey from account creation to login, coupon or point redemption and on through to payment.
The service, according to the release, will quickly be able to identify bots, both good and malicious, and analyze and classify those deemed questionable. It will also be able to allow customized responses with the power to adapt policies in minutes based on bot behavior.
The debut of Event-Based Bot Detection comes as a new report shows 80 percent of businesses using eCommerce have lost money because of “complex and sophisticated” malicious bots, with two-thirds of respondents saying they’ve seen losses of over $500,000 in the past year, the release stated.
“Innovation and advancement have become essential to address the rapidly changing threat landscape,” said Kount CEO Brad Wiskirchen, according to the release. “Pioneering the most advanced solutions is embedded in Kount’s history, from being among the first companies to use machine learning to developing the largest Identity Trust Global Network. And today, we’re taking the next step with Event-Based Bot Detection. This new development furthers Kount’s position as the solution of choice for end-to-end customer journey protection.”
Kount Chief Marketing Officer Gary Sevounts spoke with PYMNTS earlier this month about how inventory management will play a key role as the holiday season begins. He said the challenge for merchants will be making sure the items customers want are accessible, but also that the path to getting them will be desirable.
Sevounts said there will be a need for security particularly this year with the levels of eCommerce.