Fraud Fighters Need to Think Differently
Online fraud continues to be a major cost to businesses, forcing organizations to continuously expand and better integrate security and fraud services to combat the proliferation and evolution of attacks. Larger attack surface threats leading to Account Takeover (ATO) and Account Opening (AO) fraud remain some of the most prevalent threats to businesses across the globe and result in billions of dollars in annual revenue losses. Organizations need solutions that protect the entire user journey from the moment they enter a session through login, transaction, and checkout without adding friction.
Fraud prevention requires a holistic view of the customer journey and benefits from the ability to detect fraudsters before they’re able to transact. Using a multi-pronged approach to mitigate attacks bridges gaps that can exist between security and fraud teams. Application defenders (i.e., network, security, and fraud teams) must be empowered to identify anomalous activities and bad actors. They require actionable intelligence around user behavior, network characteristics, and device characteristics that are useful for detecting malicious traffic. The best tools can seamlessly integrate with existing decision engines to look at security, fraud, and authentication challenges in a holistic way. Using AI-based insights and advanced data analysis, along with additional context/signals that organizations already have access to via other data sources, teams can build better rules and models and make decisions that help reduce revenue losses due to fraud while enabling a better customer experience.
One of the key anti-fraud technologies that F5 offers is its Distributed Cloud Bot Defense, which uses AI to achieve unparalleled long-term efficacy and zero customer friction to stay ahead of bots. Sneaker bots were disrupting the launches of new products from PUMA North America, disappointing customers and taking the site down for hours at a time—until help from F5 Distributed Cloud Bot Defense mitigated the attacks and enabled a better experience for PUMA’s loyal fans. Once the Distributed Cloud Bot Defense solution was in place, PUMA North America launched several high-demand shoes without automated traffic degrading site performance.
“We went from a situation where we were not even taking sales on the site to alleviating that. This solution kept the lights on, so to speak, for new and loyal consumers alike,” said Rick Almeida, Vice President of e-Commerce at PUMA North America. “Now we can focus on the go-to-market strategy and sales, and we can deliver on consumer expectations.” The team has since deployed Distributed Cloud Bot Defense to protect its shopping app, too. “No matter where we’re selling our product, we’re making sure we’re delivering a great experience for our consumers and also protecting ourselves,” Almeida continued. “The F5 solution contributes directly toward our ambitions for future growth.”
Aite-Novarica Group’s Aite Matrix: Leading Bot Detection and Management Providers report reviews the leading bot management offerings, recognizing F5 Distributed Cloud Bot Defense as a Best in Class solution.
Beyond bot management, the report notes that F5 provides a full suite of application development and security capabilities: “Through recent acquisitions, the company has developed a portfolio of complementary services that work together to provide capabilities needed by nearly all businesses.”
This report reflects continued recognition of F5’s growing position as a leader in the fraud and bot management market because of our unique approach unifying security and fraud through end-to-end capabilities that secure organizations from a breadth of automated and manual fraud attacks—all while reducing user friction.
Find additional details on the Aite Novarica Bot Management Matrix here, and learn more about F5 online fraud prevention at: https://www.f5.com/solutions/stop-online-fraud.
Sign up for a free Fraud Threat Assessment if you want to learn what fraud attacks you are currently missing with your existing tools.
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