GBT has taken a significant step towards enhancing security and protecting its clients with the deployment of Expedia’s fraud protection as a service (FPaaS) for travel bookings made on Egencia. The partnership aims to block suspected fraudulent transactions and provide an additional layer of security for Amex GBT’s customers.
Expedia’s innovative FPaaS solution incorporates advanced technologies such as AI and machine learning to identify and intervene in suspicious activity effectively. Leveraging data from over 25 years of analyzing user behaviors, the system aims to prevent fraudulent attempts in real-time.
The key features of Expedia’s FPaaS solution include booking screening, account takeover protection, and chargeback management. The booking screening allows for real-time review of e-commerce transactions using detection models to halt fraudulent activities at the source. The account takeover protection monitors customer logins in real-time, ensuring the safety of customer accounts. Additionally, the chargeback management service provides comprehensive dispute management and resolution assistance, offering a 100% chargeback guarantee.
Reports from Expedia highlight that fraud in the travel industry costs approximately US$21 billion (R400 billion) annually, underscoring the importance of robust security measures in the sector. Karen Bolda, Senior Vice-President of Demand Solutions for Expedia Group, emphasized the company’s dedication to evolving technology to meet the evolving needs of its partners, culminating in targeted solutions like Fraud Prevention as a Service.
In a landscape where digital security is increasingly paramount, the implementation of Expedia’s cutting-edge anti-fraud system marks a significant development in the travel industry. Through leveraging advanced technologies and industry expertise, Amex GBT aims to enhance security and safeguard its clients’ interests against fraudulent activities.
This partnership signifies a collaborative effort to address security challenges in the travel sector, showcasing a proactive approach to mitigating fraud risks. As technology continues to evolve, the deployment of advanced anti-fraud systems like Expedia’s FPaaS sets a new standard for security and protection in the industry.
In the final account, the adoption of Expedia’s advanced anti-fraud system by Amex GBT reflects a commitment to prioritizing security and ensuring the integrity of travel bookings. This groundbreaking development lays the foundation for enhanced security measures and sets a new benchmark for fraud prevention in the travel industry.
