Palo Alto, CA (PRWEB) July 31, 2012
IdentityMind™ Chief Technology Officer (CTO) and co-founder, Dan Kolkowitz, discusses the shortcomings of current anti fraud technologies in Card Not Present (CNP) environments, in his new white paper titled: "Electronic DNA (eDNA™) -- Identity and Reputation Based Risk Management".
Mr. Kolkowitz describes how the current commercially available technologies are failing to provide online merchants and Payment Service Providers (PSPs) with the proper approach and tools to mitigate risk.
"There are basic problems with the current solutions implementation," said Mr. Kolkowitz. "Most of the available technologies end up being deployed as Black Lists, which don't stop the initial fraud; There isn't a clear way for merchants to share fraud data, and nobody is looking at systemic fraud in real time in a way that helps merchants and PSPs protect against it."
The paper discusses how an identity based system can overcome these problems and create a global payment reputation system without violating the consumer's privacy.
Mr. Kolkowitz explains in his paper: "Technologies that can accurately identify customers in their transactions, respect their privacy and protect their identities are essential to efficient e-Commerce... eDNA™ recognizes users through their Internet environment, payment data and payment behavior. It identifies good and bad users and provides tools to recognize when identities have been stolen."
IdentityMind™ is an on-demand platform tracking Internet identities and providing next generation risk management and anti fraud services. IdentityMind™ helps online merchants stop fraud while maximizing accepting good transactions and minimizing manual review costs. IdentityMind™ tracks Internet Identities based on its patent-pending IdentityMind eDNA™. Internet consumers are passively challenged by comparing the eDNA™ of the owner of the card to the eDNA™ observed at the time of the transaction. Identities are matched across devices, payment instruments, geolocations, etc. For more information, visit http://www.identitymind.com or email pr(at)identitymind(dot)com
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