SAN FRANCISCO, June 01, 2021 (GLOBE NEWSWIRE) -- Arkose Labs, provider of online fraud and abuse prevention technology, today announced its inclusion in a new case study report by Aite Group. The report entitled “Stopping Fraud by Making it Too Expensive”, examines how three major digital businesses are protecting themselves and their customers from various forms of fraud using solutions from Arkose Labs.
It is easier than ever before for fraudsters to commit their crimes. With a massive amount of compromised personal information and credentials, low cost and free tools to commit attacks, and a growing knowledge of weaknesses in defenses, fraudsters are using a combination of bots and human farms to deploy sophisticated and persistent attacks.
“Fraudsters are operating businesses with revenue goals and cost models,” says David Mattei, Senior Analyst at Aite Group. He added, “If the cost of the attack is higher than the financial gain to be had, fraudsters are going to move on to softer targets. For this report, we spoke to three large enterprises who are using Arkose Labs to help give fraudsters a dose of their own medicine - by increasing their costs until it hurts.”
Below is an overview of this report from Aite Group on how a digital gaming company, digital bank and video entertainment platform are protecting themselves and their customers from fraud using solutions from Arkose Labs:
Digital Gaming Firm
When the digital gaming company’s legacy fraud vendor transitioned from a free to a paid business model, it provided them with an opportunity to research new fraud solutions to see if there was a better option. Moving to the more feature-rich solution of Arkose Labs was a no-brainer since the effort to deploy it would be about the same as upgrading to the legacy vendor’s paid model.
Key Results:
- Fraudsters pivoted tactics in an attempt to circumvent the Arkose Labs solution
- Improved solve rate as more good users solved the challenge puzzle with ease
- Brandable puzzle graphics provide users a more personalized experience
- 5-star vendor responsiveness
Digital Bank
When a new executive joined this digital bank, it realized a new approach to fraud prevention was needed. Having kept an eye on innovative industry solutions, the executive saw Arkose Labs’ market presence and decided to deploy the solution on their web platform.
Key Results:
- Significant reduction in user login abandonment, previously high from bot attacks
- Lower user friction, as Arkose Labs presented only high-risk users with challenges
- Configurable risk thresholds allowed them to set different rules across its customer base
- Lower false positives as users were prompted to self-remediate
The digital bank has been pleased to see quick reductions in its fraud losses even in the early stages of deployment. The engineering teams across the two companies have built such strong relationships through the implementation that they socialize outside of work.
Video Entertainment Platform
A global video entertainment platform faced an unusual fraud situation. The problem was not traditional fraudsters, but malicious activity from users within its ecosystem. Abuse of their in-game auctions, where players used bots to outbid other players within a few seconds of an auction closing, was leading to customer dissatisfaction. The team began a search for solutions to separate people from bots and deployed Arkose Labs’ risk decision & adaptive challenge solution.
Key Results:
- Lower friction for good customers since not all users are prompted to solve an interactive puzzle
- Easy integration efforts allowed them to deploy a solution fast
- Maintained the integrity of their gaming experience more than one-time passcodes or other step-up authentication
- ML maintained by Arkose Labs and informed by the firm’s false positives feedback alleviates the need for machine-learning staff to maintain an in-house model
The video entertainment platform was able to define what kind of challenge experience it wanted users to have and Arkose Labs tuned the system accordingly. For example, they did not want to challenge a heavy user more than once per week and Arkose Labs configured its system to perform that way. They appreciate how Arkose Labs customizes its ML system for their needs, so over time it can adapt, improve results, and challenge less.
Earlier this month, Arkose Labs released their Q2 2021 Fraud and Abuse Report, to access the full report please click here.
To learn more about Arkose Labs and its Fraud and Abuse Defense Platform, visit www.arkoselabs.com
About Arkose Labs:
Arkose Labs bankrupts the business model of fraud. Recognized by Gartner as a 2020 Cool Vendor, its innovative approach determines true user intent and remediates attacks in real time. Risk assessments combined with interactive authentication challenges undermine the ROI behind attacks, providing long-term protection while improving good customer throughput. Arkose Labs is based in San Francisco, Calif., with offices in Brisbane, Australia and London, UK. For more information, visit www.arkoselabs.com or on Twitter @ArkoseLabs.
About Aite Group
Aite Group is a global research and advisory firm delivering comprehensive, actionable advice on business, technology, and regulatory issues and their impact on the financial services industry. With expertise in banking, payments, insurance, wealth management, and the capital markets, we guide financial institutions, technology providers, and consulting firms worldwide. We partner with our clients, revealing their blind spots and delivering insights to make their businesses smarter and stronger. Visit us on the web and connect with us on Twitter and LinkedIn.
Media Contact:
Paul Wilke
Upright Position Communications
arkose@uprightcomms.com
+1-415-215-8750