Kount Awarded Additional Patent for Device Fingerprinting
BOISE, Idaho, May 5, 2011 /PRNewswire/ — Kount Inc., a leading fraud prevention solution provider, has announced the issuance of another patent for its device fingerprinting and proxy piercing geolocation technologies.
U.S. patent number 7,937,467 “Online Machine Data Collection and Archiving Process” was issued to Kount, and describes the generation and analysis of a machine data profile of a customer computer accessing a merchant website. In addition to creating a device fingerprint, the technology “pierces” through anonymizing proxies to detect the true IP address and geolocation of the customer computer. The technology also links the customer identity profile with other online transactions looking for suspicious or otherwise fraudulent activity across a large number of transaction attempts, all in real-time.
Kount’s latest patent expands its portfolio of intellectual property by adding an additional 41 claims to bolster the device fingerprinting and proxy piercing technology it invented and patented in 2001 (U.S. patent number 7,330,871). “Kount’s ability to collect and analyze more parameters associated with a customer-not-present transaction enables us to reduce fraud, and reduce false positives at the same time. It represents the best of both worlds for clients concerned about fraud,” stated Brad Wiskirchen, Chief Executive Officer, Kount.
A pioneer and innovator in the fraud technology market, this is Kount’s third issued patent. Kount also has ten other patent applications pending related to cutting edge technologies including: system identification, data collection, credential verification, payment fraud control and risk analysis. The company anticipates several additional applications will be filed in the coming months to further enhance its intellectual property market leadership.
According to Wiskirchen, “Our patented technology is core to our business and a key to the success of our customers and partners in fighting fraud. Device fingerprinting and Proxy PiercerÃ‚® geolocation tools provide a unique advantage in determining a computer, cell phone or mobile device ID and true location of each customer that visits a website. These technologies, while a foundation for the fraud detection industry, are also becoming increasingly important as a replacement for the less-persistent cookie technologies used by many in the online space.”
The Proxy Piercer product is one of many technology components in use within Kount’s comprehensive fraud solution platform. For example, if a fraud ring based in Nigeria secures an active credit card from an individual located in Texas, the fraudsters can attempt to conceal their true location by leveraging an anonymizing proxy server, located in Texas to initiate the transaction. Kount’s patented technology has the ability to detect the difference between the apparent IP geolocation, and the actual IP geolocation of a given computer in real-time. This dynamic feature eliminates the need for companies to maintain and rely on static data, such as black/negative lists, to better service and evaluate each transaction as it occurs.
When fraudsters use stolen credit cards and other credentials to make purchases online, merchants absorb the costs. They suffer losses through unrecoverable product, chargeback fees assessed by banks, ancillary costs such as shipping, operational costs, as well as the loss of confidence with individual customers and the overall brand. From a consumer perspective, fraud prevention protects the public by making it more challenging for fraudsters to use stolen credit information. This helps keep prices lower and protects consumers from the costly and time-consuming damage of identity theft.
Kount delivers an all-in-one fraud and risk management platform for companies working in card-not-present environments looking to simplify their fraud/risk operations while dramatically improving bottom line results. Kount provides a single, turnkey fraud solution that is easy-to-implement and easy-to-use. Kount’s proprietary technology has reviewed hundreds of millions of transactions and provides maximum protection for some of the world’s best-known brands. Kount’s solution is feature rich and technology proven. Regardless of the industry, Kount responds with accurate information in milliseconds, thereby enhancing the overall consumer experience. For more information about Kount, please visit www.kount.com.
SOURCE Kount Inc.