Home CYBERSECURITY Nethone: Fighting Against Payment Fraud With Artificial Intelligence 2020

Nethone: Fighting Against Payment Fraud With Artificial Intelligence 2020

by Javier Nieto León
Nethone: Fighting Against Payment Fraud With Artificial Intelligence

Nethone: Fighting Against Payment Fraud With Artificial Intelligence 2020

Brief introduction about Nethone

Nethone’s solutions help enterprises from all around the World to convert cyberthreats into well-informed, profitable decisions. We specialise in fraud prevention in remote channels, e.g. when paying with credit and debit cards or when it is related to account takeover. All in all, we prevent transactions made by fraudsters and suspicious users in the fastest growing remote channel. Founded in 2016 by experienced data scientists, security experts, and business executives, Nethone is one of the fastest-growing companies in Central Europe.

What are the main problems solved by Nethone?

We use artificial intelligence and deep profiling of any online user entering the client’s website. This translates not only into avoiding online fraud threats but also allows our customers to develop their business and improve the quality of services. At a time when companies operating in online channels care about the best possible user experience, Nethone provides them with a risk management tool that can have a positive impact on the shopping experience and, consequently, a higher number of conversions. Moreover, by eliminating the friction felt by the users, we are able to increase the chance of better retention of end customers.

How do you solve these problems?

Our solution – Nethone Guard – is based on a range of Machine Learning algorithms, which “here-and-now” can extract signals from our enriched “bag” of user information, that indicate attempts to misuse a credit card, define a user profile and mark suspicious and unusual transactions in real-time.

When we monitor transaction attempts, we use a Profiler, our proprietary tool, which is able to identify more than 5000 attributes of a particular user. In addition to hardware, operating system, browser and network connection data, we are also able to collect individual behavioural data – such as keyboard speed and tact, cursor movement or page scrolling. All this information, combined with the data we receive from the customer and the capabilities of our Machine Learning algorithms, allows us to offer exceptional precision in identifying cyber threats to our customers around the world.

Our Profiler also boosts Nethone ATO. This solution introduces new standards to the electronic banking market and e-commerce sector in terms of protection of account takeover. The system based on behavioural biometry and Machine Learning allows counteracting the Account Takeover (ATO). We achieve tremendous precision due to our authorial modelling approach and combining raw behavioural data with Profiler.

Nethone ATO offers a comprehensive tool that protects our client’s customers against unauthorized use of login and password, but also against theft of cookies or other consequences of phishing. The solution does not affect UX. It increases users’ security and lowers operating costs. Thanks to behavioural analysis, Nethone ATO can be used as a secure login authentication element, in accordance with SCA requirements included in the PSD2 directive.

In our portfolio, there is also Cookie Guard, a solution designed to fight affiliate marketing fraud – through identifying cookie stuffing, anomalies in the traffic and automation. It is a customised answer, ultralight plugin for the website – an answer to the crisis that affects the industry through billion-dollar losses. We provide a combination of a plug and play artificial solutions and human intelligence, that combined ensure the best results. The light integration and our personalized approach to each and every client make Nethone a solution that stands out on the consumer finance market.

Who is your target customer?

We operate globally with over 30 customers in Europe, the USA and Latin America. We serve mainly companies from the tourism industry and the wider e-commerce sector, such as eSky Group, LOT Polish Airlines, and the rapidly growing Brazilian airline Azul. We also cooperate with entities from the digital lending and financial sector.

What is the main technology innovation offered by Nethone?

Nethone has developed a proprietary fraud prevention solution based on a Know Your Users™ approach. It combines Nethone Profiler, a solution that allows us to collect unique first-hand data about online users, and Machine Learning techniques to profile the customers, segment traffic, and block fraud attempts. It’s a shift from just knowing your customers to multidimensional profiling of all online users and understanding their real motives.

Nethone Profiler is a solution able to gather over 5000 attributes and unique fingerprints about each user and device used to access a website or log in to a native application on a mobile device. This kind of online user profiling is exceptional in the market. These attributes help us to improve the prediction of user behaviour and gather relevant and specific insights in real-time. Profiler analyses such categories of attributes as:

  • Device characteristics (hardware, software, browser),
  • Network characteristics (connection types, VPN detection, etc.),
  • Behavioural biometrics (the way users act – type, scroll, move the mouse, etc.).

We use advanced Machine Learning (ML) algorithms to analyze the data gathered through the whole user flow. Attributes are analyzed by our AI models to find non-obvious links between them. ML, with its proficiency to analyze highly unstructured data, has proven to be more effective than any static rules. The behavioural context only further enriches the accuracy of Profiler output.

How to get in contact with Nethone?

If you want, we can arrange a demo presentation for you. You can contact us in this matter via our website: www.nethone.com.

Our company is still growing, therefore we have many open recruitments, which you can all check out here: https://nethone.com/careers or just write us an e-mail: people@nethone.com.

You can reach also via social media:

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