GNC Selects Kount’s Advanced AI-Driven Fraud Prevention Solution to Expand and Support Omnichannel Growth Strategy
BOISE, Idaho--(BUSINESS WIRE)--Nov 6, 2019--
Kount®, the leading digital fraud prevention company, today announced that GNC Holdings, a leading global health and wellness brand, selected Kount to support and protect the retailer’s new convenient and accessible omnichannel shopping experience. Kount’s fast, flexible AI-driven fraud prevention solution enables customers like GNC to set risk thresholds to increase approval rates, reduce fraud losses and lower operational costs.
GNC is implementing a more convenient, customer-centric experience across all retail channels and locations, including expanding online access to more products, as well as providing options to buy online and pick up in-store, and ship-to-store options. To assist in these efforts, the global health and wellness retailer conducted a thorough competitive analysis, which determined Kount offered the most agile, advanced digital fraud prevention solution on the market.
Kount’s next-generation AI uses supervised machine learning to consider historic data based on its network of billions of transactions over 12 years, 6,500 customers, 180+ countries and multiple payment networks, which is combined with unsupervised machine learning to detect linkages and anomalies faster, more accurately, and on a more scalable basis than human judgment alone. Kount’s AI solution, along with GNC setting customizable controls, will help the retailer achieve its financial goals while improving the customer experience.
“The customer is at the core of everything we do at GNC,” said Tricia Tolivar, Chief Financial Officer, at GNC. “We selected Kount because their technology delivers the flexibility and speed we need to rapidly expand our commerce initiatives with confidence. They’re a committed partner, guiding us through the process from implementation through transition and full deployment – all of which allows us to continue to best serve our customers while reducing fraud losses.”
“We are thrilled that Kount is playing a crucial role in GNC’s digital innovation efforts,” said Rich Stuppy, Chief Customer Experience Officer at Kount. “Our advanced AI-driven fraud prevention helps our customers increase sales by reducing fraud and allowing them to accept more orders across all retail channels. Digital fraud prevention is just the beginning, as Kount helps leading businesses like GNC achieve their desired business outcomes.”
Kount’s award-winning AI-driven digital fraud prevention solution is used by 6,500 brands globally, helping them to reach their digital innovation goals. Kount’s patented technology combines device fingerprinting, supervised and unsupervised machine learning, a robust policy and rules engine, self-service analytics, and a web-based case-management and investigation system. Kount’s solutions stop fraud and increase revenue for digital businesses, acquiring banks, and payment service providers. www.kount.com
GNC Holdings, Inc. (NYSE: GNC) - is a global health and wellness brand that helps people live well. The company is known and trusted for quality performance and nutritional supplements, and its broad assortment features innovative private-label products as well as nationally recognized third-party brands, many of which are exclusive to GNC.
GNC’s diversified, omni-channel business model has global reach and a well-recognized, trusted brand that provides customers with excellent service, product knowledge and solutions. The company serves consumers worldwide through company-owned retail locations, domestic and international franchise activities, and e-commerce. GNC also has exceptional innovation and product development capabilities and generates revenue through corporate partnerships. As of June 30, 2019, GNC had approximately 8,000 locations, of which approximately 5,900 retail locations are in the United States (including approximately 2,000 Rite Aid licensed store-within-a-store locations) and the remainder are locations in approximately 50 countries.
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CONTACT: Alex Sheehan
KEYWORD: IDAHO UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: RETAIL SECURITY DATA MANAGEMENT TECHNOLOGY MARKETING COMMUNICATIONS GENERAL HEALTH ONLINE RETAIL OTHER RETAIL FITNESS & NUTRITION OTHER TECHNOLOGY SPECIALTY SOFTWARE NETWORKS HEALTH
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