Continuously assessing fraud utilizing automated, asynchronous KYC procedures for transaction monitoring tailored for payment and e-commerce needs

A New breed of payment anti-fraud solution

FUGU offers a 360° self-learning fraud prevention strategy, continuously auditing payments post-checkout, helping merchants safely accept more transactions online which they currently lose to fraud, false declines, payment churn, as well as, effectively fighting the expanding friendly fraud phenomena.

FUGUs award-winning, multi-tier fraud prevention solution, fights payment fraud at various points along the transaction lifecycle and achieves significant reduction in both false declines and chargebacks, uniquely harnessing automated, Passive and Active KYC procedures, to allow for making the best risk assessment.

Asynchronous, Automated KYC checks

FUGU solution is designed to allow the online merchant, bank and payment provider, accepts more transactions to begin with, preventing unnecessary rejection of legit attempts that may initially appear suspicious, but will eventually prove legit after performing the various KYC checks.

FUGU KYC solution is based on multiple Passive & Active verification technologies, including:

Active verification technologies, including:

• Analyze multiple UI signals and performance of IP verification
• OCR (extracting details from scanned/pictured documents)
• Face recognition technology (compare selfie of a client with photo in documents)
• Cross reference of provided data with extremal Blacklists/DBs (e.g. Fraudsters pictures, IP, Phone number owner)
• Liveness detection of video
• Integrity checks of provided materials (e.g. Photoshop, photo from screen, faked documents, changed photo, etc.)

FUGUs solution oversees many unique data points and KYC outputs and add each new risk signal that was collected, to the respective transaction interaction trail vector with a dedicated risk level score. This process results in an evolving risk assessment that consists of an ongoing analysis, of various attributes, including Sentiment, Stability, Cooperation, Coherency, Trackability and History, representing a comprehensive risk assessment for the most efficient fraud prevention.

Harnessing post transaction Passive and Active KYC procedures to reduce friction

With constant pressure on site owners to provide a frictionless user experience, banks, payment providers and online merchants are forced to waive on applying verification processes during the transaction flow to avoid friction and churn, but this raises risk concerns. FUGU offers a unique way to mitigate the risk by asynchronously employing additional defense walls after the transaction was submitted, detecting abnormalities by performing Passive and Active Customer verification procedures to validate the transaction respective/ suspicious details. Such strategy allows to safely accept more transactions, it improvs completion rates, minimize users’ churn, and reduces false declines, while still allowing to roll back the onboarding/transactions before final approval/ completion – which is where the actual risk starts (e.g. goods shipment in the case of online order, account opening in the case of onboarding, etc.)

All monitoring outputs including KYC results are available on a timeline ready to challenge any sort of dispute

Long after the payment, in the unfortunate case of a customer filing an unjustified chargeback, the customer’s entire interaction trail is available at a push of a button, as representable documents making it easier for the merchant to challenge it.