CNP Expo Sponsor Snapshot: LexisNexis Risk Solutions
April 13, 2015
When it comes to fraud prevention, the phrase “knowledge is power” is axiomatic. The data merchants rely on to indicate if a person placing an order is, in fact, the cardholder is vitally important. The amount and quality of information fraud departments have impacts their precision, which not only can help them reduce fraud, but also increase revenue in the form of fewer rejected legitimate transactions.
Good orders can look like fraud just as much as fraudulent orders can look good, and merchants that are forced to make a decision on a transaction with only half the story could risk canceling an order that would never result in a fraud chargeback, thus losing sales and most likely the lifetime value of that customer.
LexisNexis® Risk Solutions offers fraud, risk, and compliance solutions that combine market-leading data resources with cutting-edge technology.
“LexisNexis Risk Solutions has two primary differentiators,” says Aaron Press, director of market planning for LexisNexis. “First is our data. We bring together data from thousands of public-record, contributory and proprietary sources to build the resources that underpin our products. The data covers not only individuals, but also businesses, and is global in scope. Second is our technology. Creating value from data on this scale requires tools and methods that not only manage the data, but link, analyze, and deliver real insights.”
Its diverse risk products also set LexisNexis apart, allowing merchants to decide how best to access the data and use it to make decisions that fit their business and existing fraud systems. The company offers Chargeback Defender, a product that automates fraud review in the order process with an identity and devices score; Risk Research, a tool used to simplify and streamline the manual review process; and Retail Fraud Manager, a workflow platform which includes the other products while also enabling merchants to call out to their identity proofing solutions. Merchants can choose which product based on if they want information to influence an automated rules engine, simplify the manual review process, or both.
As the Official Identification Verification sponsor for the 2015 CNP Expo, LexisNexis Risk Solutions is looking forward to “sessions, content, and conversations that challenge all of us to think beyond our usual scope,” says Press. For more information about LexisNexis risk product offerings, or to schedule an in-person meeting with LexisNexis while attending the CNP Expo, you can contact Aaron at email@example.com .