Kount, who works in digital fraud security and identity trust, announced that it is partnering with data cloud provider Snowflake to provide enhanced, artificial intelligence-(AI) powered insights into customer conduct.
The product is titled Data on Demand and will act as a “private data warehouse,” said the release, working with insights from Kount’s Global Trust Network and driven by machine learning and AI capabilities.
With flexible upselling, cross-selling, and down-selling programs, Data on Demand will provide a constructive way for businesses to use data to maximize sales opportunities. Friction can be cut with the latest software and consumers can look at omnichannel solutions and attempts to deter fraud. To accelerate the research potential, users can combine all their data, use personalized reporting, and have access to custom machine learning operations, the release said.
Customer-collected payment information and data from Kount’s user-defined fields, along with data from triggered laws, results, and feedback, can also be included in the Data on Demand program.
As stated by Kount CMO Gary Sevounts, the partnership was essential to the initiative. “With unprecedented growth in digital commerce comes [an] unprecedented opportunity to uncover new customer journey paths, reduce friction, and take customer experiences to the next level. Data on Demand is the key to unlocking huge amounts of both new and existing data from many sources.”
The pandemic has heightened the problem of those clients who say “porch pirates” have stolen their items from their doorsteps to get refunds they are not even owed, notes PYMNTS. This can lead to refund fraud in which consumers falsely say a shipment never arrived to access a refund, preying on the old customer is always right’ adage, said Rich Stuppy, chief experience officer with Kount. The solution may be a “fraud-first” mentality where companies can access a customer’s entire history of shopping at their place of business.
