E-commerce grew 20% for Costco in fiscal 2015—20 times faster than store sales.
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.