Ravelin, a machine learning (ML) platform for fraud detection and prevention, is collaborating with Mastercard, a leading worldwide provider of payments, to create an improved solution that incorporates digital identity verification capabilities to promote safe and swift commerce.
In order to assist merchants in streamlining the confirmation of a customer’s identification without adding friction to the process, Ravelin will work with Ekata to validate digital IDs and Ethoca to evaluate real-time fraud findings.
“We all want secure and seamless experiences,” said Chris Reid, executive vice president of Identity Solutions at Mastercard.
Reid said that they can better assist merchants by working with Ravelin, a business that shares their longstanding commitment to developing and sustaining trust in the digital economy.
“By bringing our capabilities together, we can help quick commerce merchants better assess fraud before a payment is authorized, improving the checkout experience,” Reid added.
According to the press release, Ravelin leverages Ekata’s transaction risk API to validate a user’s initial transaction. Ekata assigns a risk score in an effort to facilitate business decision-making by providing additional information.
Ravelin collaborates with Ethoca Alerts and Ethoca Consumer Clarity after the transaction to help businesses identify fraud and avoid chargebacks.
Mastercard is dedicated to bringing best-in-class insights and solutions to merchants worldwide. We are thrilled to partner with Mastercard to enhance our platform and help merchants strengthen their fraud detection capabilities.Ravelin CEO Martin Sweeney