WhitePages PRO: Antifraud Product Reduces Manual Reviews by 40%
March 20, 2014
WhitePages PRO, a unit of Seattle-based contact-information aggregator WhitePages, revealed a new product it said will make it easier and quicker for businesses to validate customer identities. The company this week released its new Identity Score product it said complements the WhitePages PRO solution in a number of ways, according to Tom Donlea, director of risk services for WhitePages. Some in-house or obsolete antifraud platforms are unable to quickly digest the ever increasing amounts of data it takes to evaluate online transactions for fraud. Identity Score assimilates that data and provides merchants an easily understandable result, Donlea told CardNotPresent.com. The score product also makes a merchant’s manual review process more efficient, he said.
“Many online merchants have implemented comprehensive antifraud solutions, but those that haven’t typically review from 15 to 20 percent of their orders,” he noted. “Our research shows that 80 percent of those orders end up being approved anyway. They’re clearly spending time reviewing transactions that don’t need it. Identity Score lets a merchant develop a threshold under which orders are reviewed by the automated system. And if they do need it, it provides the diagnostics to speed up the review.”
White Pages PRO ran beta tests with several online merchants and Donlea said those who used Identity Score saw the number of orders that required manual review decrease by 40 percent with no increase in fraudulent orders.