The goal for most airline risk managers today is to reduce fraud losses while protecting loyal customers and good orders. Reducing manual reviews and bad debt write-off while lowering false positives, minimizing lost sales and protecting brand equity is a necessity. Achieving these goals requires a solution which can scale to the size and diverse needs of airlines, provide visibility to attacks across the entire business and run in a single instance while continuing to scale.
FraudNet is installed across many leading global airlines and provides over 60% reduction in bad debt write-offs and lowered false positives by over 80%. Futher, while 2011 e-commerce industry statistics show the average manual review rate, across all segments, at a staggering 24% of transactions, 41st Parameter’s FraudNet enables customers to operate effectively at a much leaner rate. In fact, 41st Parameter customers average 2-3% review rates.
FraudNet includes many rule sets which are not device specific, such as dynamic queues and reporting and has proven to:
- Covertly and accurately identify incoming devices to your website without any imposition to customers or modification of end-user behavior
- Obtain a comprehensive picture of the identity of any device placing a reservation, regardless of the user-entered data and support offline reservations
- Reduce false positives and bad debt write-offs while protecting loyal customers