Simility Adds AI Powered Adaptive 3-D Secure Support

March 16, 2017         By: Mike Dautner

Simility is essentially a highly sophisticated fraud prevention platform, and it has some news regarding a new feature to its operating system.

Today the company introduced Adaptive 3-D Secure, a solution that leverages AI to reduce customer friction while adding chargeback protection for transactions that would have ultimately been rejected.

Simility’s Adaptive 3-D Security is the first and only solution of its kind in the market that offers the merchant the ability of AI to help them accept the benefits of 3-D secure, cutting out the possibility of increasing customer friction.

3-D Secure is a protocol created to be a preventative security layer for online credit and debit transactions. With the original 3-D Secure, all transactions are vetted with authentication 100 percent of the time. This puts a strain on customer friction, even for those who make purchases on a regular basis. However, Adaptive 3-D Secure triggers authentication only for high-risk transaction, speeding along the process for “good customers”, maximizing merchant profits.

The system leverages advanced machine learning combined with rules to evaluate each transaction in real-time based across multiple attributes such as device fingerprinting, in-session behavioral analytics, proxy filtering, and geolocation to identify high risk transactions.

“3-D Secure is important for securing online credit and debit card transactions but can cause frustrations and slowdowns for customers and cost the merchants in abandoned purchases and chargebacks for rejected transactions,” said Rahul Pangam, CEO of Simility. “The fact is merchants should only use 3-D Secure for transactions they would have rejected or sent for expensive manual review.  Simility’s 3-D Secure solution provides the best of both worlds by protecting merchants during high risk transactions while adding chargeback protection for transactions that would have been rejected.  Merchants want to give customers a smooth and quick checkout experience but still need protection from fraud; our solution meets both of these needs.”