Thirdwatch is an Artificial Intelligence (AI) driven startup that aims to prevent fraud in e-commerce by providing companies with a vital, technology-enabled solution that flags risky transactions by using machine learning. It’s AI product ‘Mitra’ detects fraud on e-commerce platforms in real time by identifying and separating genuine transactions from fraudulent ones.
Fraud Solution Profile
Thirdwatch is an emerging fraud protection measure for e-commerce businesses that utilizes Artificial Intelligence to detect and prevent risky transactions. Through it’s AI-based product ‘Mitra’, Thirdwatch wants to make e-commerce market a risk-free platform for sellers.
Mitra is based on machine learning and predictive analysis that identifies user behavior and patterns to separate genuine and fraudulent transactions by analyzing more than 100+ different parameters.
Mitra is able to recognize risk in real time by continuously updating the criteria on which a purchase is evaluated. With natural language processing, Mitra can distinguish real addresses, user ids, IP addresses, email ids, etc. from fake ones.
E-commerce fraud like return frauds, return to origin (RTO), chargeback fraud, promo code fraud, and much more can be recognized by Mitra’s AI.
The automation technologies wielded in Thirdwatch’s AI strikes chargeback fraud and RTO fraud right at their origin and protects e-commerce businesses by blocking illegal or fake account access and unhealthy activities.
Mitra predicts any form of fraudulent transaction and flags risky transactions as red and safe transactions as green for the e-commerce seller, thereby protecting the seller from inventory and monetary losses.
Mitra act as a shield over promo code fraud and account takeover by identifying the user uniquely using Mitra’s proprietary device fingerprint algorithm. In this algorithm we use more than 12 user identification parameters like email, phone, zipcode, ip, address etc including user behavior. So if the user is creating multiple accounts on same device or if the account is used on some suspicious device, mitra can identify that.
Thirdwatch understands the needs of each e-commerce platform, which is why it is modeled to be a customer-based fraud prevention intelligence technology. Mitra is able to find that needle in the haystack and not only prevent fraud, but also enable business growth by accurate approvals and prompt customer service.
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