FutureBazaar, CyberSource Fight Fraud With Decision Manager

In an era where ‘digital’ is the magic word, with ‘futuristic’ following close behind, FutureBazaar has coupled the two and set up a viable online business model. With a strong parent company such as Pantaloon Retail backing it, the online shopping portal has gone all out in housing the latest security solutions. In its endeavour to do so, FutureBazaar tied up with CyberSource Ltd, the UK-based CyberSource subsidiary, to deploy its Decision Manager anti-fraud solution, a CyberSource offering.

Heads up from Futurebazaar on requirement of the solution

Keeping in tune with the graph of fraud activities was turning out to be a daunting task; hence, the company felt that it was essential to have an anti-fraud solution in place. After going through the rigmarole of evaluating several players in this space, the team at FutureBazaar zeroed in on CyberSource as it felt that the company’s solution offered flexibility and authentic anti-fraud intelligence.

Firoz Khan, VP-Operations, FutureBazaar, informs, “With the increasing threat of fraud in India’s rapidly growing e-commerce market, we needed a solution that could provide us with a greater level of intelligence. Our acquiring bank, due to their expertise in the Indian marketplace, recommended CyberSource to us. A robust solution combined with the company’s extensive experience in the Indian market made CyberSource the perfect choice."

Functionalities of Decision Manager

“Decision Manager is a fraud management portal that evaluates orders placed on our website in real-time, and determines whether they should be accepted. The tool provides us with access to over 150 fraud validation tests and services. This includes: transaction history checks, device fingerprinting, IP geolocation, purchase velocity, identity morphing and custom data from our systems,” says Khan.

Decision Manager’s fraud evaluations, drawn from over 150 order validation tests, take place within seconds and are based on business rules determined by FutureBazaar. The rules can be updated any time through an easy-to-use online interface. This flexibility enables FutureBazaar to continually adapt its fraud-screening strategies to changing marketplace realities. Decision Manager includes sophisticated case management systems and process analytics to help further address the accuracy and efficiency of the fraud management process.
Seamless integration accompanied with custom-made features

According to Khan, the integration of Decision Manager was a breeze as it seamlessly integrated with the rest of the IT solutions. To make things easier, CyberSource provided employee training and professional services.

Khan says, “The Decision Manager tool incorporates a number of features that are relevant to FutureBazaar. In particular, I would highlight the feature of velocity checks, which works both at a global and merchant-specific level and has customisable rules. As the solution has been recently implemented, further benefits will be realised over time.”
The road ahead

While FutureBazaar is looking at launching a new website on an international platform in 2009, CyberSource is looking at extending its offerings throughout Asia.

Dr Akif Khan, head of UK client and technical services at CyberSource Ltd, concludes, “Fraud patterns vary from region to region and even country to country. Online merchants need to alter their rules to accommodate these variances or they are likely to allow unacceptable levels of fraud and deny too many good orders. We believe our experience in India allows us to more effectively recommend screening practices to optimise online performance in that region. We are building on our work with companies like FutureBazaar to deliver the highest standards of payment and risk management throughout Asia.”