That is why it is important that software solutions include security systems and measures that guarantee a secure transaction. Next, we will see how with Microsoft Dynamics 365 the entire purchase process can be secured, ensuring that the customer is safe and can complete their purchase successfully.
Who is involved in the purchasing process?
There are three entities involved in every e-commerce transaction: the company, the banks, and the customers. Fraud is a major barrier that limits the customer experience that affects credit institutions and companies, whose operating costs are increased and their income reduced.
- The company . The company needs a secure electronic commerce because otherwise, its operating expenses are increased (increasing the number of manual processes) and experience a decrease in income (abandoned shopping carts).
- Financial entities . Problems with internet security produce a decrease in their income for banks , due to the decrease in online purchases by customers.
- The clients . The insecurity that occurs during the purchase process is the main barrier for customers, who do not dare to complete purchases if they are not 100% confident in the security of the environment.
How to protect the checkout process with Dynamics 365
There is a tendency to think that the moment of risk where fraud can occur is at the time of online payment. Although it is true that it is a delicate part, fraud can affect the entire online purchase process, including post-purchase.
Dynamics 365 has Fraud Protection , a system to help companies in the fight against fraud, keeping the doors open for customers. Currently, it protects more than one billion online transactions per year. Using Artificial Intelligence technology, it learns from patterns, which allows the development of new anti-fraud systems.
With Dynamics 365 Fraud Protection, you can carry out secure electronic commerce as it addresses the challenges in terms of fraud and security for both the client and for banks and companies.
- The company . Customers will feel safe and be able to complete purchase transactions, so operating expenses will decrease and sales (and therefore revenue) will increase.
- Financial entities . Dynamics 365 Fraud Protection helps the bank increase the acceptance rate and increase its revenue stream.
- The clients . Fraud Protection improves the customer experience with secure purchase processes, making it easier for customers to access their accounts, without the need for laborious validation processes, captcha, etc.
Features of Dynamics Fraud 365
The main features of this Microsoft tool are:
- It uses AI technology to identify patterns and provide the best anti-fraud tools to managers.
- Using a fraud protection network, you gain insight into fraudulent activity occurring around the world, helping to protect buyer information and privacy .
- Improves the relationship with banking entities to increase transaction authorization rates .
- By knowing the risks that affect each transaction, the company can improve the customer experience by providing better support.
With the use of Microsoft Dynamics 365 Business Central and Fraud Protection, customer security can be guaranteed throughout their purchase journey, improving their customer experience, reducing the operating costs of companies, and increasing revenues, both for banks and for the companies themselves. That is why it is important that software solutions include security systems and measures that guarantee a secure transaction. Although it is true that it is a delicate part, fraud can affect the entire online purchase process, including post-purchase.