FiveBy and Microsoft join forces to defend organizations against fraud related attacks

FiveBy announced a new collaboration with Microsoft, which combines managed service offerings with the power of Microsoft Dynamics 365 Fraud Protection.

Organizations across many industries are experiencing an increase in fraud incidents at speeds that impact revenue with little warning and often require unplanned resources to respond. According to 451 Research, for merchants that have seen fraud volumes increase, 41% cited growth in new account fraud, while 35% cited a spike in policy abuse and friendly fraud.

FiveBy’s fraud management expertise coupled with Microsoft’s adaptive AI technology offers customers a comprehensive solution to defend against the continuous threat of fraud related attacks while improving accuracy and acceptance rates. This collaboration enables organizations to identify and reduce fraud costs, while freeing up key resources to focus on investments, innovation, and growth.

Dynamics 365 Fraud Protection’s ability to continuously learn evolving fraud patterns enables customers to detect and protect against fraud trends and loss issues faster and with more accuracy, while providing a holistic view of the fraud landscape. Dynamics 365 Fraud Protection delivers three key capabilities integrated as part of an overall solution or provided individually as needed:

• Purchase protection that rejects fraudulent transactions while more accurately accepting legitimate purchases, maintaining, and even improving revenue and customer satisfaction
• Account protection to fight against account takeovers, fake account creation and user account abuse
• Loss prevention that enables organizations to identify anomalies that can indicate fraud trends in off-line behavior or for batch analysis

“As long-time specialists in this field, FiveBy has not come across a fraud detection and insights solution nearly as robust and accurate as Microsoft’s fraud protection tool. We are thrilled to be able to offer our customers an opportunity to get ahead of ever-changing fraud trends at a speed and operational efficiency that hasn’t been available until now.” – Alex Kochis, President & Founder of FiveBy.

FiveBy’s team of experts, including credentialed fraud investigative analysts and data scientists, provide dedicated customer support from the initial evaluation and implementation of Microsoft Dynamics 365 Fraud Protection to the ongoing management and optimization.

For what once required customers to manually search for trends and anomalies that might indicate a fraud incident, FiveBy can now analyze small batch data sets for labeling (flagging fraud related transactions) that feed into the Dynamics 365 Fraud Protection AI modeling to be automated. Additionally, FiveBy will assess customers’ current fraud mitigation processes, tools, workflows, and decision matrices.

“Fraudsters are sophisticated and continually seek vulnerabilities to exploit. However, most of our customers are not fraud experts, nor are they staffed with large teams of skilled fraud analysts and investigators. Therefore, we are working with FiveBy Solutions to deliver a comprehensive solution that enables our customers to stay ahead in the race against fraudsters.” – Donald Kossmann, Distinguished Engineer & General Manager, Microsoft Dynamics 365 Fraud Protection.

While identifying anomalies, trends, and key insights are a basic need in this fast-paced market, organizations still need to act, leveraging the intelligence gathered. In addition to fine-tuning data to be ingested into the Dynamics 365 Fraud Protection AI modeling and adjusting parameter and rules configurations, FiveBy’s specialists can provide ongoing assessments and recommendations to improve data and policy health, or even implement improvements directly with customer teams to close vulnerable gaps that can be easily exploited.