Worldline (Euronext: WLN), the European leader in payments and transactional services firm, has teamed up with Microsoft (NASDAQ: MSFT) in order to integrate Dynamics 365 Fraud Protection into Worldline’s digital commerce payments solution.
Online fraud has increased considerably during the COVID-19 crisis and resulting economic downturn, with losses of around $12 billion globally. It’s not just a widespread problem, but bad actors are becoming increasingly sophisticated, as the recent cyberattack on Colonial Pipeline has shown how advanced cybercriminals have become with their tactics.
But criminals tend to leave many traceable “fingerprints” while carrying out fraudulent transactions. Screening each suspicious transaction to check if there were any signs of fraudulent activity can be impractical without the right technology like adaptive AI that powers Microsoft Dynamics 365 Fraud Protection.
Dynamics 365 consists of a portfolio of enterprise-grade products spanning sales, marketing, finance, commerce, supply chain, HR and various other services such as Fraud Protection. The integration should enable pre-set fraud controls and adaptive AI that is able to learn to more accurately identify fraud taking place on a client’s own site and as part of a wider fraud protection network.
Worldline’s customers may see Dynamics 365 Fraud Protection working in real-time, supported by an intuitive user interface (UI). Users may balance fraud prevention with customer friction via a user-friendly dashboard that can effectively analyze false positives, while optimizing rules to increase acceptance rates. Users may access a virtual fraud analyst interface to calculate or determine the risk appetite to balance customer friction and the fraud detection rate.
Panteha Pedram, Director of Fraud and Risk Products at Worldline, stated:
“Microsoft are world leaders across dozens of digital industries, and after extensive reviews of the available anti-fraud solutions we have found that they are the ideal partner to bring fraud prevention technology to all of our customers. We take fraud extremely seriously, and because of the size of our client-base and the power of Microsoft’s solution we are confident that we will make a sizable dent in online fraud and futureproof online businesses.”
Robin Brenner, Sr. Director of Dynamics 365 Fraud Protection at Microsoft, remarked:
“Worldline is a global leader in payments and transactional services, and Microsoft looks forward to partnering with them to bring our modern, cloud-native fraud protection solution to their global customer base. Dynamics 365 Fraud Protection builds upon the technology that protects Microsoft’s businesses, from Azure to Xbox, and combines advanced adaptive AI with a global fraud protection network spanning millions of users, to help businesses combat both criminal and friendly fraud, while maximizing profits. The specialized integration between Worldline and Microsoft will evolve the landscape for payments and transactional services and bring the best of both worlds to our customers.”
Worldline and Microsoft made considerable investments to develop a specialized solution, integrating Dynamics 365 into Worldline’s Merchant Services platform. This should enable Worldline’s clients to begin using the service without having to spend time on deployment or onboarding, which means it will be a seamless integration with no negative impact on the customer experience (CX).