Sanjay Singh, formerly of Abercrombie & Fitch and Procter & Gamble, will head up a new data-analysis business unit.
The company will roll out the Inkiru Predictive Intelligence Platform at IRCE.
Inkiru Inc., which provides predictive analytics tools for retailers, will launch a new product Tuesday at the Internet Retailer Conference & Exhibition 2012.
The Inkiru Predictive Intelligence Platform uses live browsing data to fight online fraud. The Inkiru system analyzes the actions a customer is taking in a web store and layers it with the historical data a retailer has collected about consumers similar to the customer to look for patterns indicating fraud.
Because the live data analysis improves the site’s fraud-detection capabilities, the vendor says it could help increase merchant’s operational margins by 60% compared to antifraud systems that don’t take into account the shopper’s on-site behavior.
Criminals are always developing new ways to commit fraud, which means online retailers must work to stay on top of payment-related security, says John Rountree, director of payments, fraud and risk management at IMVU, a retailer that sells accessories for online avatars, or characters, that consumers create and use to socialize or play games in a virtual world. A retailer that fails to keep up faces higher costs from credit card chargebacks and dealing with transaction reviews and declines, he says. Rountree is looking fornew fraud-management tools and says he is considering Inkiru’s new platform.
A subscription to the platform starts around $10,000 a month and can range up to $100,000 a month. The price reflects a number of other services Inkiru also provides, including customer segmentation and targeting, personalized recommendations, personalized offers or promotional campaigns and detailed information for customer service applications.