How Microsoft Dynamics Fraud Protection Benefits E-Commerce Businesses

Today's e-commerce retailers face massive fraud losses daily, including reduced revenue, wrongful rejections, increased operational expenses, and much more.
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How Microsoft Dynamics Fraud Protection Benefits E-Commerce Businesses

Today’s e-commerce retailers face massive fraud losses daily, including reduced revenue, wrongful rejections, increased operational expenses, and much more. Consequently, internet fraud impacts lots of businesses on a local and global scale, which contribute to unpleasant customer experiences. Fortunately, the AI market space is expanding rapidly and delivering real solutions for real-world challenges. Currently, the primary approach to fraud protection requires customers to create accounts and complete multi-step authentication, forming barriers within eCommerce channels.

Even Microsoft, which is at the forefront of innovation as a trusted global e-commerce technology leader, is impacted by online fraud. As a result, the corporation has developed a fraud protection system to help safeguard more than one billion transactions every year and deliver superior shopping and purchasing experiences. Microsoft has developed Dynamics 365 Fraud Protection Application to provide the best fraud protection to fulfill both their needs and the needs of online shoppers from across the world.

How Microsoft Dynamics 365 Fraud Protection Works

Dynamics 365 Fraud Protection is designed to help increase revenue, lower operational expenses, reduce wrongful rejections, minimize fraud losses and manual review costs, improve bank acceptance rates, and enhance a seamless shopping experience.

Over the last two years, Microsoft Dynamics 365 Fraud Protection has saved Microsoft over $76 million in fraud costs by minimizing fraud losses and manual review rates. It has also helped boost revenue by hundreds of millions of dollars. Today, all online merchants can leverage Dynamics 365 Fraud Protection to reduce fraud and related costs, enhance revenue, and provide better buying experiences with extra support and less friction.

Dynamics 365 Fraud Protection typically utilizes its purchase protection, loss protection, and account protection capabilities to protect ecommerce merchants safeguard their bottom-line. With adaptive AI technology, the application empowers you to boost your revenue, reduce costs, and deliver a seamless shopping experience to your customers. Moreover, merchants have the option to choose the capability that fits their business needs best.

Overall, Dynamics 365 Fraud Protection comprises three unique offerings that work in parallel:

  • Diagnose: A risk-free assessment of customer data collected over three months to provide insights into the potential revenue savings that Dynamics 365 Fraud Protection could bring.
  • Evaluate: An API integration that compares real-time insights with real-world data to current solutions being used.
  • Protect:  The full solution that helps safeguard e-commerce retailers and merchants from fraud threats.

Microsoft Dynamics 365 Fraud Protection Capabilities

The three essential capabilities of Dynamics 365 Fraud Protection include:

1: Purchase Protection

Without purchase protection, merchants face several challenges, including fraud losses, increased operational expenses, and lost business due to wrongful rejections. Those rejections may lead to customer dissatisfaction, while unauthorized transactions may result in lost revenue.

Dynamics 365 Fraud Protection prevents purchase fraud and helps secure online revenue by boosting e-commerce transaction acceptance rates, reducing checkout friction, and offering merchants the precise decision-making tools they require. Purchase protection also enables you to detect an enhanced customer shopping experience and streamline operational efficiency.

At a more advanced level, adaptive AI technology continuously learns from fraud patterns and helps merchants optimize controls. Besides, the collective knowledge of global fraud activity keeps everyone informed while sharing transactional trust knowledge with banks and boosts authorization rates. With a built-in escalation support tool, users can draw valuable context and fraud insights.

2: Account Protection

Another vital capability of Dynamics 365 Fraud Protection is user account protection. It’s designed to address challenges such as fake accounts, user account abuse, and fraudulent account access. In the online shopping world, bots can create fake accounts, which are then sold to the black market. Fraudsters can use those accounts to make online shopping transactions, resulting in lost revenue for the merchant or retailer.

Fraud Protection utilizes the account protection capability to fight fake accounts and combat fraudulent account access. It also helps protect your online revenue, enhance customer satisfaction, and improves your business reputation.

Account protection accomplishes these goals by minimizing fraud activities, protecting user privacy, and preserving user accounts. It works to protect your account against bots with stolen credentials, which helps to avoid losses. With device fingerprinting ability, the chances of detecting fraud are highly increased. Additionally, account protection uses device forensics data to establish your personal fraud assessment.

3: Loss Prevention

Dynamics 365 Fraud Protection also provides loss prevention capability. Retailers can employ this to combat various challenges such as improper discounts and product returns from omnichannel purchases. When customers purchase products at a discounted price online and later return them in-store and get back a full-price refund, the merchant will lose revenue.

Other times, a customer can buy goods and return them online, but the items are never collected from the customer’s location. This also leads to lost revenue on the part of the merchant. The loss protection capability addresses improper discounts and returns by enhancing business intelligence, streamlining automation, and protecting revenue.

Fraud Protection Accelerator Motion

In response to the COVID-19 pandemic, Dynamics 365 Fraud Protection has introduced an accelerator motion which offers training, and rapid deployment to allow merchants to adapt the application to their businesses more quickly.

To begin your Fraud Protection journey, you need to first compile and analyze your business’s historical data over three or more months to get fraud insights. This helps you identify areas of higher fraud risk.

You can seamlessly upload your company data and get both diagnostic reports and risk reports. Next, you can evaluate by testing the Fraud Protection system using real-time transactions and compare against your incumbent approach to fraud.

Enter your real-time transactions and try the device fingerprinting ability of the Fraud Protection application, which increases your chances of detecting fraud.

Wrapping Up

As a global e-commerce leader, Microsoft Corporation cares about its bottom line just like every other online business out there. Besides, the global data collected through Dynamics 365 Fraud Protection is used to benefit all. The application is tailored to bring together global data across participating retailers in a secure and privacy-aware manner to enhance fraud protection across the ecosystem.

Keep your tabs on this page to keep learning more about Microsoft Dynamics 365 Fraud Protection Application and other expert guidance on Microsoft technologies and Microsoft cloud solutions such as Microsoft 365, Microsoft Azure, and Microsoft Dynamics.

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