Protect revenue and reputation with Dynamics 365 Fraud Protection
Jay Nanduri - Technical Fellow, Fraud Protection
Our lives have shifted quickly over the last few months, and so have businesses as they work to respond to changing needs. Merchants, together with consumers, have had to rely more on doing business online as the new situation globally demanded it. E-commerce has seen a surge in the volume of transactions, especially impacting industries like delivery services, home entertainment, gaming, and online retail.
As e-commerce booms, so do the risks of account fraud exposure, increased returns, discount losses, and higher liability for merchants in the online card-not-present channel due to payment fraud. Now more than ever, organizations have a critical need for cloud solutions to address the new challenges from this rapid transformation.
Microsoft is here to help. We are launching two new capabilities for Microsoft Dynamics 365 Fraud Protection to counteract account fraud, and omnichannel return and discount fraud, available to all merchants:
- Account protection: Help protect your online revenue and reputation and safeguard user accounts from abuse and fraud by combating fake account creation, account takeover, and fraudulent account access.
- Loss prevention: Help protect your revenue by identifying potential fraud on returns and discounts arising from omnichannel purchases, enabling store managers and loss prevention officers to quickly take action to mitigate losses.
Microsoft Dynamics 365 Fraud Protection is a cloud-based solution designed to help merchants protect their revenue and reputation by decreasing fraud and abuse, reducing operational expenses, and increasing acceptance rates.
Using adaptive AI technology that continuously learns and adapts from patterns, Dynamics 365 Fraud Protection equips merchants with tools to optimize fraud controls. Through the fraud protection network, our customers benefit from connected knowledge that gives them broad awareness of fraud activity across the globe, providing better fraud insights and enabling business intelligence, while keeping the security of their confidential information and their shoppers’ privacy top of mind.
Dynamics 365 Fraud Protection offers three capabilities which can be integrated together or used individually, providing merchants the option to use the capability that best suits their business needs:
- Account protection capability: With increased transaction vulnerability and higher exposure to account takeover, merchants need to protect their customers throughout their account lifecycle. Account protection helps merchants combat account creation and account takeover fraud with adaptive AI technology that continuously learns and adapts to evolving fraud patterns from the connected knowledge generated from customers using the service. Improve customer experience at a critical step of the account lifecycle by enabling merchants to block fraudulent activities and protect their customers’ accounts.
- Loss prevention capability: With increased online shopping, the improper use of discounts can lead to reduced income for merchants. Using the power of AI, loss prevention analyzes omnichannel fraudulent patterns for anomalies and provides merchants with business intelligence reporting to increase visibility into potentially fraudulent activity of business entities. The adaptive AI technology is continuously learning and adapting to evolving patterns to help combat fraud associated with returns and improper discounts.
Along with account protection and loss prevention capability, we have the purchase protection capability that was released on October 1, 2019:
- Purchase protection capability: With an increased volume of transactions, merchants need to preserve genuine purchases and protect their system against fraudsters. Help protect online revenue by improving the acceptance rate of commerce transactions with insights and tools that help balance revenue opportunity verses fraud loss and checkout friction with Dynamics 365 Fraud Protection with purchase protection capability.
Dynamics 365 Fraud Protection is powered by the same technology that helps Microsoft protect more than one billion of its own e-commerce transactions each year. Over the last two years, the system has reduced operational expenses by more than $76 million, decreased fraud loss, and enabled fewer manual reviews. By improving the false positive rate by 1.38 percent and the bank acceptance rate by 7.69 percent, Microsoft has dramatically reduced wrongful rejections and cumulatively increased revenue by hundreds of millions of dollars over the last two years.
More than ever, now is the time to strengthen your business capabilities to combat fraud. Get started with Dynamics 365 Fraud Protection and help safeguard your business from fraud threats with all three capabilities: purchase protection, account protection, and loss prevention.
Although we are currently navigating times of uncertainty, you can take a step forward to protect your business against fraud with Dynamics 365 Fraud Protection.
We’re here to support you during the global health crisis. Please contact your Microsoft sales representative to activate Dynamics 365 Fraud Protection new capabilities, or for specific guidance to help you solve business-critical challenges.
Learn more about Dynamics 365 Fraud Protection and see how Capital One is helping merchants reduce fraud.