Kount, Snowflake Team To Offer Customer Data Insights
Kount, which works in digital fraud protection and identity trust, announced today (Dec. 1) that it is working with data cloud provider Snowflake to provide enhanced, artificial intelligence- (AI) driven insights into customer behavior, according to an emailed press release.
The product is titled Data on Demand and will work as a “private data warehouse,” the release said, working with insights from Kount’s Trust Global Network and powered through machine learning and AI capabilities.
Data on Demand will offer a proactive way for companies to use data to boost revenue opportunities with customizable upsell, cross-sell and downsell initiatives. With the new program, friction can be cut and users can look at omnichannel options and fraud prevention efforts. Users can combine all their data to accelerate analysis potential, utilize personalized reporting and have access to custom machine learning operations, the release said.
The Data on Demand program can also include customer-collected payment details and data from Kount’s user-defined fields, along with data from triggered rules, outcomes and reviews.
Kount CMO Gary Sevounts said the partnership was key to the program. “With unprecedented growth in digital commerce comes [an] unprecedented opportunity to uncover new customer journey paths, reduce friction and take customer experiences to the next level. Data on Demand is the key to unlocking huge amounts of both new and existing data from many sources.”
Matt Glickman, Snowflake vice president of customer product strategy of its Data Marketplace, said the new partnership will help companies “share data from across sources in a secure and governed way,” according to the release.
“This partnership gives our joint customers the ability to more fully utilize their data to gain a deeper understanding of customer behavior, support fraud prevention and provide meaningful business value,” he said.
The pandemic has heightened the issue of those customers who claim “porch pirates” have stolen their goods off their doorsteps to get refunds they aren’t really owed, PYMNTS reports. Rich Stuppy, chief experience officer with Kount, said this can lead to refund fraud in which customers falsely claim a package never arrived to access a refund, preying upon the old ‘customer is always right’ adage. The answer could be “fraud-first” mindsets where businesses can access the entire history of a customer shopping at their place of business.