Travel & Hospitality
AI-Powered Enterprise Fraud Prevention
Reduce Online Fraud and Increase Approvals In Less than 90 Days
Online Travel Fraud is a $25 Billion Business
$25B+
Travel Fraud by 2020
1.5 - 3%+
Average Travel Fraud Attack Rate
1000's
of Travel Fraud Signals
Travel Fraud Challenges
The travel industry has led the way into the digital world, with 98% of tickets purchased online. However high ticket prices, fewer data points and faster checkouts make identity and order authentication challenging.
Fraud rates in the online travel industry (OTA) can jump into the 1-3%+ of sales range, and a sudden onset can shock both the finances and operations of even a diligent travel company.
Travel Fraud Prevention Practices
To reduce the risk, common approaches include:
- Replace static rules with dynamic business rules and intelligence augmentation,
- Include live internal threat monitoring of call centers, financial flows and employee/agent performance, and
- Implement comprehensive anomaly detection and early warning alerting systems.
Fraud Prevention Designed for the Online Travel Industry
Fraud Detection Platform
- Deep learning fraud detection models
- Fueled by billions of Collective Intelligence Network transaction outcomes
- Analyzes 4,000+ variables, including departure + arrival airport pairings, number of tickets purchased, time between purchase and travel, and more.
Case Management Platform
- Enterprise case management dashboards with rich decisioning data
- Global teams by region, loyalty program, and more.
- Individual and team-level permissions, workflows, and escalations
Business Intelligence Platform
- Advanced data mining and visualization
- Developed from the ground up for fraud data mining
- Analyze thousands of variables across every transaction – e.g. visualize the nodes of a travel fraud ring.
Fraud.net Customers in Action
Learn how a multibillion dollar, top 5 online travel agency (OTA) reduced fraud by over 30% in just 90 days.
“Fraud.net’s solutions and teams far surpassed our expectations, delivering tangible value within 90 days. We gained $100mm in new sales, reduced fraud by 30%, and enabled our team to operate more effectively and efficiently. Their platform is indispensable. And their 3rd party data integration simplified reviews, leading to valuable savings in time and money. Their expertise is unmatched.”
– CEO, Top 5 Online Travel Agency
2019 Online Travel Industry Benchmarking Report
