Question: Is there a way to optimize transaction routing to reduce fraud rates and improve payment authentication in the payments industry?

To optimize transaction routing and lower fraud rates, Ekata also offers a full suite of customer identity verification and fraud prevention tools. Ekata uses machine learning to verify identities, assess AML risk and help businesses onboard customers with confidence. The suite of tools includes Transaction Risk API, Address Risk API and Pro Insight, all of which can help lower fraudulent transactions during checkout.

Another powerful option is ProcessOut, which offers payment analytics and routing with AI Smart Routing. The platform integrates with multiple payment providers and automatically selects the best one for each transaction to optimize payment performance and minimize fraud. It also offers Dynamic Checkout, Vault for secure payment data storage, and Ops Suite for centralized payment data management, making it flexible and secure.

If you need real-time fraud protection, check out Forter. Forter's Identity Intelligence platform provides instant trust assessments and real-time decisions for customer interactions. It blocks fake accounts, payment fraud and chargebacks while increasing payment authorization rates. The platform has been shown to lower chargeback rates by 72% and false declines by 46%, making it a leading fraud prevention solution.

Riskified also offers fraud and risk intelligence, specifically geared toward ecommerce. With AI and machine learning, Riskified approves more transactions and catches fraud better than competitors. Its features include Chargeback Guarantee, Policy Protect and Dispute Resolve, all designed to provide comprehensive fraud protection and revenue recovery, resulting in substantial fraud cost savings and transaction success.