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Cayman Islands Businesses Boost Revenue with Advanced Fraud Detection and Prevention Software
Grand Cayman, Cayman Islands - In an effort to combat the growing threat of cybercrime, businesses in the Cayman Islands are turning to advanced fraud detection and prevention software. Aidrian, a cutting-edge solution developed by Experian, is helping retailers and credit providers significantly reduce fraud rates while maintaining high conversion rates.
Advanced Fraud Detection
According to Experian, Aidrian’s AI-powered fraud solution can accurately identify 99.9% of all transactions, resulting in a significant reduction in false declines. This innovative approach dynamically assesses each customer, automatically predicting the fraud risk and providing a trustworthiness decision in mere seconds.
“We designed Aidrian with two fundamental objectives - to help generate additional revenue and effectively combat the ongoing surge in cybercrime,” said an Experian spokesperson. “Our solution has been proven to maximise acceptance rates, increase revenue, and reduce costs associated with manual reviews.”
Key Features
Aidrian’s four core elements - Fraud Miner, Rules Hub, Device Profiling, and Case Investigator - work together to provide a comprehensive fraud prevention platform. The system is updated every two weeks, ensuring it stays ahead of emerging fraud threats.
Benefits for Businesses
By leveraging Aidrian’s advanced technology, businesses in the Cayman Islands can:
- Increase sales by up to 15% through reduced false declines
- Enjoy more automation, resulting in less manual reviews and a smoother customer experience
- Scale up with ease during peak seasons or high-growth periods
- Stay ahead of evolving fraud threats with real-time updates
FAQs
Q: How long does it take to implement Aidrian? A: Integration can be complete in as few as five working days, depending on IT capability.
Q: Do I still need rules when using Aidrian? A: Yes, some rules are necessary. Aidrian’s Rule Hub allows for simple creation and testing of new rules with a no-code drag-and-drop system.
Q: What types of payment can be screened for fraud with Aidrian? A: Aidrian analyses all types of payments and applications, including card payments, BNPL, monthly account payments, bank transfers, direct debits, and digital wallets.
For more information on Aidrian and its capabilities, contact Experian today.