To grow e-commerce business all retailers need an intelligent solution to monitor finnacial return, discount, fraud, and simultaneously increase revenue, generate profit, and also
increase customer service.
With the increase in revenue, frauds may also increase resulting in reduced profits. So fraud impacts retailers on a local and global scale. So there is no any automated way to understand the which store is affected by fraud and so on. Also there is no any way to get reporting details on fraud for investigating the matter.
So recently Microsoft has invested in artificial intelligence (AI) based systems to help retailers increase process efficiencies in both on premise and online. With this in mind, Microsoft is expanding Dynamics 365 Fraud Protection to provide merchants with much needed AI to make processes more efficient and protect merchant’s omnichannel revenue.
Dynamics 365 Fraud Protection
Its a cloud-based solution developed to provide fraud protection to fulfill both Microsoft’s and their customers’ needs. To meet these challenges there are two main ways by which to work on this issues: account protection and loss prevention. These two capabilities utilize Microsoft’s fraud protection network, which maintains up-to-date connected fraud activity data
and incorporates artificial intelligence and machine learning (ML) capabilities. This is the key feature that supports all our new capabilities for account protection and loss prevention.
According to the Dynamics 365 Fraud Protection team, the goal is to protect customers from fraud across the entire spectrum from e-commerce to brick and mortar retail and cover not only purchases but also account related activity as well.
Account protection for Dynamics 365 Fraud Protection helps retailers recognize patterns related to fraudulent e-commerce activities during account creation or hijacking. Account protection aids in decreasing the costs of account fraud by helping reduce the number of fraudulent accounts, in turn protecting the businesses’ reputation and improving customer
experiences and satisfaction.
Account protection provides retailers with the following benefits:
- Prevent negative exposure due to fraudulent activity
- Increases customer satisfaction by protecting customer
- authenticity and privacy
- Reduces fraud activities and friction
With loss prevention for Dynamics 365 Fraud Protection, retailers can increase operational efficiency and revenue by identifying loss patterns in their physical stores. Loss prevention provides brick and mortar stores with these benefits:
- Enables business intelligence
- Helps to boost your revenue
- Reduces the manual effort to determine the business entities and functions