KOUNT, AN EQUIFAX COMPANY, IS EXPANDING its international operations. The organization, which already helps to protect more than 9,000 businesses worldwide, is growing its business in the United Kingdom and expanding the availability of its award-winning digital identity trust and fraud prevention solutions in Australia, Argentina, Chile and Peru.
Global e-commerce sales are projected to exceed $5 trillion USD in 2022, and surpass $7 trillion USD by 2025. At the same time, worldwide e-commerce payment fraud is expected to exceed $200 billion by 2025. Kount’s expanded global footprint has been designed in direct response to this growing need.
Kount Chief Revenue Officer, Jared Kernodle, is leading the company’s phased initiative to enable more businesses around the world with advanced AI and machine learning-driven capabilities to fight digital fraud and enhance customer experience.
“Online retail sales worldwide will top $6 billion USD next year, that’s approximately 23 percent of all known purchases,” says Kernodle.
“Just about everywhere, consumers are not only becoming increasingly comfortable with online and mobile purchases, they’re becoming more demanding with higher expectations. They want a frictionless, personalized, and satisfying omnichannel experience at every touchpoint. But with the rapid growth of e-commerce, criminal activity is also growing and businesses need the tools, data, and knowhow to detect and prevent fraud.”
The result of a strong patent portfolio, the Kount Identity Trust Global Network uses AI and both supervised and unsupervised machine learning to link trust and fraud data signals from 32 billion digital interactions, 17 billion devices, and five billion annual transactions across 200 countries and territories. As more signals are collected and combined with Kount’s AI-driven analytic insights, they become more predictive, helping to prevent digital fraud and protect against account takeovers in real time while enabling personalized customer experiences.
According to Kernodle, “The pandemic, in combination with the transformation in consumer buying habits and preferences that had already begun to take shape, forced retailers, restaurants, entertainment services, financial institutions, and other businesses to rapidly adapt for viability and growth. Across every developed country and sector, the current ecosystem favors agility and requires data-driven insights to effectively identify customers, assess risk and opportunity, enhance engagement, and drive revenue growth. This is the path forward for all commerce everywhere.”
Since its founding 16 years ago, Kount’s vision has evolved to meet market needs by not only delivering best-in-breed digital trust and fraud prevention solutions but to deliver unmatched digital enablement capabilities that help businesses innovate, grow, and thrive.
Kount was acquired by Equifax in 2021 and is part of the U.S. Information Solutions business unit. For more information about Kount, visit Kount.com.