Leader in Adaptive AI-driven Fraud Prevention Ushers in New Era of Digital Fraud and Account Protection with the Identity Trust Global Network
BOISE, Idaho–(BUSINESS WIRE)–Kount, the leading provider of digital fraud and cybersecurity solutions, has been named to Fast Company’s annual list of the World’s Most Innovative Companies for 2020. The prestigious list honors the businesses making the most profound impact on both industry and culture, showcasing a variety of ways to thrive in today’s fast-changing world. Kount was ranked in the Security category of 2020’s Most Innovative Companies List.
“At a time of increasing global volatility, this year’s list showcases the resilience and optimism of businesses across the world. These companies are applying creativity to solve challenges within their industries and far beyond,” said Fast Company senior editor Amy Farley, who oversaw the issue with deputy editor David Lidsky.
Kount’s commitment to innovation is apparent in its work to prevent digital fraud over the past 13 years, with new advancements in recent months. Most recently, Kount unveiled the Identity Trust Global Network, a new approach that flips the script on fraud management from just blocking bad transactions to empowering companies to unlock previously untapped revenue streams through delivering personalized user experiences. The Network links 2.7 billion fraud signals per interaction in real-time, enabling businesses to automate their fraud prevention decisions, thereby reducing manual review. Companies using the Identity Trust Global Network have reduced chargebacks (up to 99% reduction), increased operational efficiencies (by up to 65%), reduced manual fraud reviews (up to 83% reduction) and decreased false positives (by up to 70%).
The Identity Trust Global Network follows a year of innovation. In June 2019, the company unveiled a next-generation fraud prevention solution powered by AI technology that emulates the decision process of a seasoned fraud analyst with a response rate of less than 250 milliseconds. Shortly after, Kount was awarded three patents in user verification and authentication technology, bringing the company’s total number of patents to more than 30, again showcasing its commitment to pushing the industry forward through innovation. This was followed by the introduction of Kount’s Friendly Fraud Prevention Solution, the industry’s first complete solution to quickly and accurately identify both criminal and friendly fraud, an emerging trend in digital retail.
“We’re excited to be included on such a prestigious list among so many innovative companies,” said Brad Wiskirchen, CEO of Kount. “Innovation is in our DNA, and we always strive to push the envelope and develop new technologies that keep our customers one step ahead of bad actors and the ever-evolving fraud curve.”
To create the 2020 list, Fast Company’s editors and writers sought out the most groundbreaking businesses on the planet and across myriad industries. They also judged nominations received through their application process.
The World’s Most Innovative Companies is Fast Company’s signature franchise and one of its most highly anticipated editorial efforts of the year. It provides both a snapshot and a road map for the future of innovation across the most dynamic sectors of the economy. For the complete list of Fast Company’s Most Innovative Companies for 2020, visit fastcompany.com/most-innovative-companies/2020. The list is also featured in Fast Company’s Most Innovative Companies print issue (March/April 2020) available online as well as in app form via iTunes and on newsstands beginning March 17, 2020.
Kount powers the largest Identity Trust Global Network that combines the data and intelligence from 6,500 digital business and payments providers, linked by next-generation AI to deliver real-time, adaptive fraud prevention and personalized user experiences. The Identity Trust Global Network analyzes trust and fraud signals from 32 billion annual interactions to personalize user experiences across the spectrum of identity trust – from frictionless VIP experiences to blocking fraud. Quick and accurate identity trust decisions deliver safe payments, account creation and login events, while reducing digital fraud, chargebacks, false positives, and manual reviews. www.kount.com
About Fast Company
Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies, and thinkers on the future of business. Since 2011, Fast Company has received some of the most prestigious editorial and design accolades, including the American Society of Magazine Editors (ASME) National Magazine Award for “Magazine of the Year,” Adweek’s Hot List for “Hottest Business Publication,” and six gold medals and 10 silver medals from the Society of Publication Designers. The editor-in-chief is Stephanie Mehta and the publisher is Amanda Smith. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc., and can be found online at www.fastcompany.com.