Computer Support Blog

Fraudulent transactions can cost businesses thousands of dollars a year.  Even with careful prevention methods in place, many companies lose sizeable amounts of money to fraud and chargebacks. However, cool product Signifyd uses all the data a customer leaves online, including social network profiles, past transactions, search history, and geo-tagged location, to get a more accurate account of what charges are potentially fraudulent and which are legitimate.  Consumers leave massive amounts of useful data in their wake as they grow their Internet presence online.  The team behind Signifyd seems to believe that people should use this data for something beyond targeted advertising.  By making positive use of customers’ online presence, Signifyd aims to stop phony charges from getting through, which can save both consumers and businesses significant amounts of cash.    If you’re worried about your own online presence, you should contact an online computer support firm who can help you with your concerns. 

Signifyd mines all the public data customers leave behind online to ensure that a charge is legitimate.  For example, if the latest Facebook post from a customer’s phone was geotagged as from Chicago, but someone made an online purchase in the customer’s name on the same day from New York—that would be a reason to flag a transaction.  Signifyd considers all the usual fraud detection red flags as well.  The service verifies IP addresses, performs credit checks, and looks at device fingerprints as well to get all useful data regarding a transaction.

Signifyd also sells itself as saving businesses money by avoiding the flagging of transactions that are not fraudulent.  If a customer has posted on all their social networks that they are in Haiti for a week, that data can prevent Signifyd from flagging online purchases made from foreign IP addresses while they’re on vacation.  This increases convenience not only for the company, but for the customer as well, which could lead to more repeat business.

Businesses that use Signifyd receive access to transaction management software that lets them sift through all potentially fraudulent charges in one place.  Companies can also customize Signifyd to focus more on certain indicators of fraud than others.  If you need help using your fraud detection software, you want business IT support for your company as soon as possible.

About RESCUECOM:

RESCUECOM provides computer repair and computer support, 24/7: Meeting every tech support need including data recovery, virus removal, networking, wireless services, and computer support for all brands of hardware and software. For computer support or information on products, services, or computer repair, visit https://www.rescuecom.com or call 1-800-RESCUE-PC.

For More Information, Contact:

David Milman
CEO
david@rescuecom.com
1-315-882-1100

Filed under: business