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Amex GBT taps Expedia for fraud prevention
American Express Global Business Travel has selected Expedia Group to safeguard customer transactions.
It is adopting Expedia Group’s Fraud Prevention as a Service (FPaaS) solution for travel bookings on its Amex GBT Egencia solution.
FPaaS helps block fraudulent transactions before they happen, enabling more protection for their clients.
It uses big data based on billions of data points with artificial intelligence and machine learning to look at signals and flag suspicious activity.
This allows intervention before fraud occurs.
Key features in FPaaS used by Amex GBT’s Egencia solution are ‘Booking Screening’ where Expedia Group reviews e-commerce transactions in real time fraud detection models.
‘Account Takeover Protection‘ monitors and reviews customer logins in real time using AI/ML models to secure customer accounts when potentially fraudulent activity is detected.
Other partners can also take advantage of the solution’s ‘Chargeback Management’ feature.
Expedia Group’s specialist fraud operations team manages the dispute management and resolution process, dealing with all interactions with banks and merchants.
This is backed by a 100% chargeback guarantee.
Recent research found that 70% of businesses say their concern about fraud increased compared to the year before and 58% of consumers have been a victim of online fraud, know someone who has been a victim, or both
Fraud costs the travel industry over $21 billion dollars annually, including $6 billion dollars in damages and $15 billion in overheads.
Karen Bolda, SVP, Demand Solutions, Expedia Group said: “By leveraging AI and machine learning, we’re happy to be offering Amex GBT a simple and effective way to help them manage fraudulent activity.”
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