Kount, an Equifax company, is expanding its international presence. The organization, which already helps to protect more than 9,000 businesses worldwide, is growing its operations in the United Kingdom and expanding the availability of its award-winning digital identity trust and fraud prevention solutions in Australia, Argentina, Chile and Peru. Kount will also build additional regional professional support services this year to provide localized support for companies working to harness data-driven insights to effectively identify customers, assess risk and opportunity, enhance engagement, and drive revenue growth in an increasingly e-commerce driven economy.
“Consumers around the world are not only becoming more comfortable with online and mobile purchases, they’re becoming more demanding of retailers and coming to each transaction with higher expectations,” said Brad Wiskirchen, Senior Vice President and General Manager of Kount. “Businesses understand that these consumers want a frictionless, personalized, and satisfying omnichannel experience at every touchpoint. But, with the rapid growth of e-commerce, criminal activity is also growing and businesses need the tools, data, and know-how to detect and prevent fraud.”
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Data from the United Nations Conference on Trade Development indicates that the percentage of internet users who made purchases online increased from 53% in 2019 to 60% following the onset of the COVID-19 pandemic. These numbers are expected to grow, with research firms predicting that global e-commerce sales will exceed $5 trillion USD in 2022, and surpass $7 trillion USD by 2025. At the same time, worldwide e-commerce payment fraud is expected to exceed $200 billion by 2025. Kount’s expanded global footprint has been designed in direct response to this growing need.
“Equifax has a unique understanding of the identity verification requirements of each of the 24 countries we serve worldwide,” said Lisa Nelson, President of International at Equifax. “Expanding availability of solutions based on the Kount Identity Trust Global Network to additional markets will arm more businesses around the world with the advanced Artificial Intelligence (AI) and Machine Learning-driven capabilities needed to fight digital fraud and enhance customer experience.”
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The result of a strong patent portfolio, the Kount Identity Trust Global Network uses AI and both supervised and unsupervised machine learning to link trust and fraud data signals from 32 billion digital interactions, 17 billion devices, and five billion annual transactions across 200 countries and territories. As more signals are collected and combined with Kount’s AI-driven analytic insights, they become more predictive, helping to prevent digital fraud and protect against account takeovers in real time while enabling personalized customer experiences.
Since its founding 16 years ago, the Kount vision has evolved to meet market needs by not only delivering best-in-breed digital trust and fraud prevention solutions but to deliver unmatched digital enablement capabilities that help businesses innovate, grow, and thrive.
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