According to the press release, last year there were more than 18,000 fraud attempts on average made against each UK retailer during the Golden Quarter. It is predicted that the figure will reach 20,000 in 2021, costing each business USD 52,000 and SEON aims to drive this number down by making its fraud detection solution free to use in the run up to Black Friday and beyond.
By using artificial intelligence technology, the Intelligence Tool detects signs of fraud before a transaction takes place, cutting losses and preventing manual reviews. Unlike legacy anti-fraud products that have integration times, SEON documented APIs that allow clients to start using its technology instantly.
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