When I started at MaxMind six months ago, I took it upon myself to engage with practically every operational task at our office in Waltham, MA so that I could better understand the company's moving parts. Eventually, I began assisting with the manual review credit of card transactions placed through our website. (We manually review orders that aren't clear — accepts or rejects in order not to lose valuable sales.)
I found it bewildering trying to authenticate purchases that minFraud thought were somewhat risky by correlating our data with publicly available information. I searched Google for company names and domains, tried to find the purchaser on social networking sites, made sure the company wasn't selling bootleg Rihanna DVDs etc., etc. Though my speed and proficiency has increased, such fact-finding missions can still be tedious.
All this is to say that manually reviewing online transactions can be a messy, confounding experience, even at companies with access to masses of relevant data and the expertise of developers who create fraud risk models.This is where TeleSign comes in.
TeleSign's Telephone Verification and PhoneID products substantially reduce the amount of manual review that companies require when confronted with orders flagged as somewhat risky by minFraud. TeleSign allows you to easily authenticate purchases by checking the location of the customer's phone and its phone type against their actual location as determined by minFraud's geolocation features. The upshot is that more processing can be automated and fewer orders require manual review.
You can also easily verify customers using telephone verification, which can be automated using MaxMind's APIs. With this added layer of protection, merchants can automate an additional check that allows them to understand whether they'll be sending free electronics overseas or increase their bottom line.
If you would like more information on the minFraud solution, please visit the MaxMind website.