At Emailage, we believe in a scientific approach to risk assessment. This belief is made real with heavy investment in knowledge of risk management and modeling.
Enter our fraud decision science team. Every day, they are busy analyzing customer data, building unique models and working to achieve the best possible coverage.
We thought it would be interesting to pull back the curtain and show you a bit more about what makes our team tick.
Main roles at Emailage
At Emailage, our fraud decision scientists are mainly focused on overall product improvement, as well as working to improve our predictive fraud risk scoring. To be effective, our fraud decision scientists work hand-in-hand with our customers.
There’s lots of value in this approach. First, it establishes a feedback-loop. Our fraud decision scientists get insights into trends in real time. Second, it allows our customers to interface with experts and get best practices support. Not every company has the budget for specialists of this caliber.
The team primarily works in three different areas:
Existing feature optimization: determine how we can make the score better for customers? Customize the rules based on features.
New feature creation: Based on data and trends we get from customers? This consists of gathering new data around elements such as phone number, email, IP etc. which then are put to work in risk assessment of transactions.
New feature implementation: Once new features are created, how can they best be leveraged for better risk assessment? This includes insertion into models to provide better solutions for the whole network.
Real world results
It’s common for card skimmers to target fundraising sites. Why? To determine if stolen card information will actually work or not. In this case, a customer was experiencing an increase in attacks from “.edu” email domains. Many companies make the mistake of approving these domains because they are thought to be trustworthy.
When the customer came to our team, it was determine that even though these “.edu” email addresses looked legitimate, the region of the IP addresses associated with those emails was not correct. In fact, it was an area known for high fraud risk. Fraudsters, under the guise of typically trusted “.edu” domains, were testing out card information.
Further investigation showed it was an attack by an organized fraud ring. Our team was able to notify them the customer was able to change their rules to prevent these attacks in the future.
It’s clear that this sort of detective work, combined with getting direct results for customers, is what drives this team’s sense of professional success.
At Emailage, we see a lot of data. The role of the fraud decision scientist is to create knowledge from this data. This knowledge is then put into practice and ultimately drives the success of our customers. Of course it requires more than just one person or skill set.
We believe that to meet the rising threat of online fraud, companies should work together. This approach starts with our own internal culture, where teams are encouraged to be cross-collaborative. This approach is clearly evident in the way our team works with each other and, even more importantly, our customers.
Think of your favorite artist or celebrity out on the town — they are always with an entourage. For our customers, the fraud decision science team is that crew.
Click here to discover how you can leverage email intelligence to stop fraud, approve more transactions and drive revenue.