Kount, Boise, ID
Company: Kount, Boise, ID
Entry Submitted By: Dotted Line Communications
Company Description: Kount is a leading innovator of solutions for fraud and risk management. Our “decision engine” platform is ideal for managing fraud in online/telephone channels that process payments and onboard new customers. Kount is committed to offering an end-to-end, single-source solution focused on speed, simplicity and ease of use, boosting sales and stopping fraud at the chokepoint.
Nomination Category: Company / Organization Categories
Nomination Sub Category: Company of the Year - Business Services
Nomination Title: Kount -- Boise's Best Kept Secret
Tell the story about what this nominated organization has achieved since January 1 2015 (up to 650 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms.
Based in Boise, ID, Kount provides cloud-based fraud detection solutions that enable merchants to reduce fraudulent transactions made online and via mobile while increasing revenue by accepting more valid orders. Kount eliminates or reduces manual reviews of potentially fraudulent transactions for its customers, reducing credit card chargebacks, improving customer satisfaction, and drastically reducing fraud, in many cases by more than 90 percent.
2015 marked Kount’s most successful and transformative year to date – Kount grew its client base over 50 percent with active clients in 30+ countries. Kount works with a number of sectors, including retail, financial services, and gaming, touching billions of transactions and devices every year from more than 180 countries. Its end-to-end solution is used by thousands of merchants, payment processors, and payment service providers around the world, including Chase Paymentech, PayPal-owned Braintree, New Balance, Staples and Bodybuilding.com. Kount protects over 10,000 Internet businesses, including both direct merchants and partners. Kount owns its core, proprietary technology and holds dozens of patents in the space, including several granted in 2015. According to Chase Paymentech, their alliance with Kount “underscores their commitment to provide clients with the tools they need to significantly improve and sustain financial performance. Their partnership with Kount offers clients the first truly integrated fraud-monitoring tool at the point of transaction authorization. This is a significant step toward a global effort to reduce CNP fraud.” Merchants using the Kount platform report chargeback rates, manual review rates, false positive rates far below industry averages all while recognizing increased revenue of 2-5 percent across the board.
Throughout the year, Kount visited dozens of destinations with its Fraud 360 Seminar Series, a whirlwind tour providing education to merchants, payment processors, and businesses worldwide with a 360-degree view fraud, highlighting current data, global trends, changes in payment card compliance and future forecasting affecting transactions. Kount visited major metropolitan areas throughout the US, including Seattle, San Francisco, Chicago, Atlanta, Dallas and New York, as well as international hubs such as London, Sydney, Toronto, Sao Paulo, and Singapore. The tour not only featured Kount’s own leading experts, but also gathered other industry thought leaders such as renowned fraud expert and blogger Brian Krebs and top executives from MasterCard, PayPal’s Braintree, and Ethoca. Nearly 1,000 merchants attended the events from almost every business vertical.
In the spring of 2015, Kount released its 3rd annual Mobile Payments & Fraud Survey, the largest study of its kind, to educate the industry on the latest online and mobile fraud trends, risks, as well as new insights into mobile payment adoption. The survey experienced a record 2,000 respondents, from more than 30 countries, among different industries that are active in payments, risk management and the mobile channel, including merchants, service providers, card issuers, acquirers, and card associations.
Kount closed 2015 with a bang – a major investment from leading private equity firm CVC Capital Partners. The $80 million investment in Kount from the CVC Growth Fund is the single largest investment, without being an outright acquisition, in the history of the online fraud prevention industry (an industry that will expand from $9 billion to over $21 billion in 2019) and was the largest investment made in Idaho in 2015, as recognized by CB Insights’ list of top funded start-ups state-by-state and lists of the “Best-funded Tech Startup in Each State." The investment will enable Kount to accelerate product innovation, expand its global footprint, and enhance customer support services.
Kount’s long track record of success in a rapidly expanding market will become even more critical to merchants and payment processors as mobile and internet commerce grows.
In bullet-list form, briefly summarize up to ten (10) of the chief accomplishments of this organization since the beginning of 2015 (up to 150 words).
• Kount won 15 industry awards including; “Best Overall Fraud/Security Solution”, “Customer Choice Award”, “Global Excellence Award”, “Retail Security Initiative of the Year”, “Innovative Company of the Year” and “Anti-Fraud Solution of the Year”
• Kount Enterprise Fraud Prevention Platform Validated for Latest Version of Oracle’s Web Commerce
• Kount was granted three key patents for increasing the detection of fraudulent transactions for online merchants
• Conducted the industry’s largest survey on mobile payments & fraud and published the report 2015 Mobile Payments & Fraud Survey, which analyzes fraud and the mobile channel, uncovering trends in payments, new technology adoption, and fraud prevention strategies
• Nevada Gaming Commission Certifies Kount to Help Reduce Fraud in Online Gaming
• Kount Fraud 360 World Tour series visited 18 global locations educating nearly 1,000 merchants on payments and fraud issues
• CVC Capital Partners’ Growth Fund Makes $80 Million Investment in Kount Inc.
• Grew merchant base by more than 50%
Of the following measures of success, which ONE do you want the judges to most appreciate about your organization's story of achievement since the beginning of 2015?