Organizations are continuously exposed to expanding threat vectors through their software delivery processes. Hence, businesses are more at risk than ever because of the widespread use of open-source software, which runs practically all of our public infrastructure and is also deeply embedded in most proprietary software.
Research conducted in 2018 by BigCommerce, a software vendor and Square payment processing solution provider, found that 51 percent of American consumers believe that shopping online is the most advantageous option. In 2017, 1.66 billion consumers around the world made purchases from an online store. According to estimates, the number of digital buyers will approach 2.14 billion.
Now more than ever, it is imperative for businesses to take extra precautions to safeguard their software development infrastructure and procedures.
Development and IT teams request an improved method for securing the software supply chain, including the code, people, systems, and processes contributing to software development and delivery. Fortunately, Shield’s enterprise-level cyber fraud prevention solution seems to have the answer.
This guide explains this solution, helping you learn more about Shield and its approach to fraud prevention.
What is Shield?
Shield is a comprehensive communications compliance solution that covers the end-to-end process and enables businesses of any size to avoid risks, break out of data silos, enhance operational efficiency, and cut expenses related to compliance. Shield’s pre-integrated connectors are equipped with patented technology for acquiring data from several sources via modules, and they are responsible for collecting all essential unstructured eComms data.
What is The Purpose of Shield?
Through the application of cutting-edge AI, NLP, and visualization capabilities, Shield revolutionizes how businesses handle and minimize communications compliance risks. Shield is aware that today’s digital work environment presents enterprises with various issues, including financial crime, privacy, wrongdoing, and other concerns; hence, it provides a communication compliance system that addresses these issues.
How Does Shield Work?
Shield’s previously mentioned pre-integrated connectors collect all essential unstructured eComms data, such as voice, FinChat, email, chat, documents, and social media, using patented tech for multi-source plugin data compilation.
Next, it applies normalization to the complete unstructured data set to make it possible for the technology to categorize, reconcile, and methodically prepare the data for inspection or study.
Shield then analyzes the eComms data via various processors to enhance it. It does this by utilizing metadata and third-party systems like CRM and Active Directory and merging this information with structured data such as orders and transactions.
Add to that some artificial intelligence, such as natural language processing and visualization, as well as expert-driven rules and intelligent lexicons. Now, compliance teams have access to a graphical representation of all the data required to generate and analyze a case to fulfill regulatory requirements or carry out internal risk assessments.
Essential Aspects of Shield’s Compliance Framework
eComms Behavioral Models
This aspect of Shield includes pre-packaged analysis tools for monitoring user behavior in the workplace, online, and elsewhere.
Trade Reconstruction
It is not a simple process to automatically integrate e-commerce into the data associated with trade and markets. Shield’s FCR engine and advanced correlating analytic tools make it possible to conduct surveillance in a much more visualized, expedient, and straightforward manner.
eComms Surveillance
Comprises Is a hybrid compliance surveillance technology used for high-level fraud detection.
eDiscovery And Investigation
By bringing together all available data sources, enterprises can now have improved eDiscovery options and the capacity to complete comprehensive investigations within a reasonable timeframe.
Compliance Data Management
This includes electronic communications (eComms) retention, record keeping, and communication compliance policy with robust and flexible integrations, amplification and correlation engines, upgraded visualization, complete audit, reconciliation tools, and documentation, along with the latest communication compliance standards.
Extra Features of Shield’s End-to-End Solution
Comprehensive
Compliance AI provides the most thorough and holistic fraud prevention solution to safeguard your digital landscape.
Robust
Utilize the power of the device, the network, and ai to create a profile of each user, device, and profile at each stage of the user journey.
Advanced
The Hybrid AI Engine of AI can spot coordinated fraud activities missed by other solutions because it blends neural networks and symbolic AI.
Intelligent
Shield’s innovative system maintains a lead over new and undiscovered risks in the marketplace to safeguard your company. Leverage our Global Intelligence Network to discover potentially suspicious patterns as they take place in real time.
How Shield Prevents Fraud Across The User Journey
The next level in fraud detection and prevention is to use artificial intelligence to harness its power and stop fraudsters wherever they may be in customer interaction. Shield achieves this objective along the following points in the buyer journey.
- Fake Accounts
- Account Takeover
- Referral and Promo Abuse
- Account Sharing
- Subscription Abuse
- Payment Fraud
- Incentive Abuse And Collusion
- Spam and user Abuse
- Identity Fraud
- Ad Fraud
- AML
- Credit Risk
- Bot Attacks
- Compliance
- Policies
Covering these areas of the buyer’s journey with an end-to-end solution helps transform how your enterprise combats fraud.
Conclusion
A great deal of complexity is involved in ensuring a secure operational environment for enterprises worldwide. Protecting software from assaults that can occur anywhere online is a top priority, and Shield provides a comprehensive solution to this problem. With its set of tools spanning the entire digital ecosystem, enterprises may get started immediately and adopt progressively improved security measures, large or small, based on their current means and security needs to achieve end-to-end fraud prevention.
