Its scary to think your personal information and credit card details are vulnerable online. Its scary to think you as a company could have your system hacked into with your customers’ details at risk. Its scary to think your sales report could be full of fraudulent transactions and chargebacks. These are all complications that no one wants to deal with and the innovative technology at Centurion ID has built the solutions that prevent On-Line Card Not Present/Customer Not Present fraud like the above from happening.
We at CalvinAyre.com are impressed with the products that Centurion ID CEO Ronald Gross and his team have developed and wanted to hear more about their functionality. In this iGaming innovator profile series interview with Gross we learned why Centurion ID is unique, how its products make the lives of online operators and consumers easier and how they identified a need for the Centurion Login solution.
Becky Liggero: Thank you for your time today, Ronald- we appreciate it. Lets start with how Centurion ID differs from the other online fraud prevention companies?
Ronald Gross: We use 10 tools to our competitor’s one to several. These 10 tools have been developed under the same software and all access the same database. Our competitors use disparate tools and disparate databases that do not all talk well to each other. Our technology allows us to review of over 140 variables in less than 350 Milliseconds (fastest in the industry) with great accuracy. We have an extensive data base which features Persona technology. We can accurately break down each transaction to a Persona and track that over time and across all customers on our network. (fingerprinting, device id and velocity data)
Most fraud prevention companies and processors tend to shy away from the Gambling Industry due to its high risk. We have pursued this industry because we know how effective Centurion Login is and have confidence that it will be a standard in this industry.
We can integrate in 14 days or less as compared with the rest of the industry which takes months and teams of IT technicians on both sides. We do not access the company’s code and we are fully PCI compliant. We simply collect data about the transaction and make a decision to approve, review, deny or further authenticate the transaction whether it is a credit card at checkout, login, or cash in/cash out scenario.
Our prices are strictly transaction based without hidden fees and costly support for every little action.
We further separate ourselves, as it is our mission to not be a cost factor but to actually increase sales. We do this by preventing false positives through real time data collection and numerous collection and decision technologies.
Our platform is easy to use yet very robust.
BL: Indeed it is. How and when did you identify the need for a product like Centurion Login?
RG: We have been watching the login, password, and account takeover market continue to be compromised in a much more pronounced way for the past year. (Target, Ebay)
With over half of all Americans credentials compromised we know this problem was increasing. What is even more frightening is that most people use the same username and password for multiple accounts across all of their web properties.
It becomes even more compelling to have a solution when you consider that all businesses now more than ever use the internet for the majority of their communications and provide many of their internal and proprietary information including revenue reports, and internal operations to their employees via a login and password. We only need to look at our own company, Centurion ID, to validate this statement.
Our competitors are not solving this problem so we came up with a lightweight system that was cost effective so it was affordable to execute without affecting the bottom line which actually increases sales by preventing loss and false positives.
We also noticed specific to the gambling and gaming industry that much like in the physical bricks and mortar casinos, fraudsters and cheats are always trying to beat the system at any cost. Fraudsters go where the money is and it’s obvious that online gaming is thriving and expanding and so will the fraud. With Centurion Login we can stop that fraud in its tracks.
BL: Yep, I was one of those people who had the same UN and PW for everything…until one of my accounts got hacked. So tell me why is Centurion Login is a product that will make the lives of online gambling operators easier.
It will eliminate all of the nonproductive time that the Online Gambling Operators are spending on trying to remedy the existing fraud with their customers as a start.
This will provide more time for the Online Operators to focus on the positive aspects of the business which will increase revenues versus putting out costly fires.
Centurion Login will instill confidence with customers and it will remove the distraction and the costs associated with tracking fraud and the possible liability associated – All within 100 milliseconds or less per login.
Customer Loyalty is the number one priority to all businesses as it is expensive to gain a customer. Centurion Login provides very good PR related to why a customer should feel comfortable using the online gambling site that employs this technology.
When you realize how fragile customer loyalty is in this internet world, and that customers can switch options in the click of the mouse, Centurion Login is one more good reason to keeping that customer confident that his information and assets are being protected and keeping his loyalty.
BL: Sounds like your solution saves time, improves bottom line and keeps customers loyal- three things that operators do love. What advice do you have for companies who want to innovate like you?
RG: We live in a world which is more and more is invisible. Everything is going to mobile, the cloud and all online.
Money is held in accounts in databases that all can be accessed by teenagers with basic software purchased online.
If a company does not chose to step up their game (no pun intended) to address this pervasive and costly problem they will not survive. One big hit can cost them their whole business.
Customer loyalty is fragile with so many options of where to go to spend one’s money. If the customer has a problem with your site they can transfer their money and business with a click of the mouse. And they do!
I suggest to all of our clients and potential customers to ask the hard questions about their vulnerabilities and make certain that their management team has vigorous discussions on how to protect what they have from any and all types of perpetrators – especially the ones they can’t see.
BL: Thanks for that Ronald and thanks again for taking the time to join me today, its been a pleasure.