When a person starts doing business online, it is very important to assess the possible risks from business activities. These can be financial risks, social, personal, etc. Online business includes its own specific risks, the set of which is constantly expanding. Because of the importance, financial danger, and constant increase of such risks, multiple professional teams have emerged that work on fraud reduction. Such professionals develop various risk management tools that could be useful for companies of different kinds.
Risk Management Tools For Low- and High-Risk Businesses
Covery is a well-established online platform working in the anti-fraud field. It
- develops risk management tools based on top technologies and machine learning
- works with low- and high-risk businesses protecting them from all kinds of fraud
- constantly improves its risk management software tools on the basis of 5 billion user actions analyzed.
Risk management software tools developed by Covery allow analyzing, evaluating, and controlling risks of businesses. Companies from Europe, the USA, and other countries of the world highly benefit from risk management tools provided by Covery. Fraud tools are highly demanded by specialists of all kinds, such as risk analysts, AML professionals, etc.
Anti-Fraud Products by Covery
Among risk management tools offered by Covery there are the following:
- enterprise risk management tools: Trustchain, VMPI Chargeback Prevention
- transaction monitoring tools: Device Fingerprinting, KYC Automation
These products have helped to prevent 500+ million risky actions since 2016, and assist your company in combating fraud on all stages of your particular field of business. It allows you to:
- Identify and compare risks.
- Classify individual risks. For example, Trustchain detects and isolates bots and scammers thanks to reputation records of user identifiers. It provides automatic risk assessment based on information collected regarding the frequency and impact of occurring events.
- Evaluate and prioritize the collected risks. In particular, In-Depth Analysis is aimed at assessing the risks on each step of the sales routine. Thanks to it, customers efficiently increase fraud declines and essentially save their resources.
- Choose risk management tools and strategies. For example, VMPI Chargeback Prevention decreases the number of disputes and chargebacks, eliminates fraud, and secures a positive customer experience.
- Initiate activities to counter the identified risks
- Monitor, collect reports, and document all risk cases
Risk management software tools are essential instruments for protecting businesses online. Not only do your financial assets depend on your choice of appropriate software but also the financial security of your clients does. A fraud-proof business has a good reputation. With Covery your reputation will be impeccable!