FaceFirst helps brick-and-mortar stores to tackle retail return fraud

Wednesday 20 June 2018 10:34 CET | News

FaceFirst has launched retail return fraud prevention product Fraud-IQ to provide brick-and-mortar stores with an added layer of intelligence for assessing if returns are legitimate.

FaceFirst, a SaaS-based visual intelligence platform, tackles public security and theft prevention by using facial recognition and predictive analytics to help create safer communities. With FaceFirst, retailers, stadiums, transportation centers and law enforcement agencies can detect and deter threats in real time, while also leveraging historical criminal intelligence to identify crime patterns and prevent violence.

Customer service representatives can determine if people are returning goods they did not enter the store with using Fraud-IQ’s facial recognition capabilities.

Retail return policies are being widely abused, as National Retail Federation research shows that 10.8% of returns are fraudulent, costing retailers USD 9.6 billion annually.

FaceFirst says its retail security facial recognition platform reduces shoplifting by 34%, and in-store violence by 91% on average, while Fraud-IQ automatically deletes user videos after two hours to adhere to FaceFirst’s Privacy by Design mandate.

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Keywords: FaceFirst, merchants, retail, brick and mortar, fraud, facial recognition, biometrics
Countries: World