Amex GBT to use Expedia Group’s Fraud Prevention as Service Solution
Expedia Group has announced that American Express Global Business Travel (Amex GBT) will use Expedia Group’s Fraud Prevention as a Service (FPaaS) solution for travel bookings on its Amex GBT Egencia solution.
FPaaS blocks fraudulent transactions before they happen, reducing unscrupulous activity and enabling more protection for their clients.
With data models based on billions of data points from over 25 years of travel industry experience, Expedia Group’s Fraud Prevention as a Service solution leverages artificial intelligence and machine learning (AI/ML) to look at signals and flag suspicious activity when behaviour patterns deviate from the norm, allowing intervention before fraud occurs.
Key features included in FPaaS used by Amex GBT’s Egencia solution are ‘Booking Screening,’ where Expedia Group reviews e-commerce transactions in real time with AI/ML fraud detection models to stop fraudulent transactions at the source, and ‘Account Takeover Protection’ — Expedia Group monitors and reviews customer logins in real time using AI/ML models to secure the safety and integrity of customer accounts when potentially fraudulent activity is detected via suggested remedial actions.
Other partners can also take advantage of the solution’s ‘Chargeback Management’ feature: Expedia Group’s in-house specialist fraud operations team takes full end-to-end ownership of the dispute management and resolution process, dealing with all interactions with banks and merchants, all backed by a 100% chargeback guarantee, which reimburses partners for any true fraudulent transactions.
Anxiety around fraud is on the rise. 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.
The impacts are felt by the travel industry too: in total, fraud costs the travel industry over $21 billion dollars annually, including $6 billion dollars in damages and $15 billion in overheads.
In addition to direct and operational overheads incurred by dealing with fraudulent transactions, they can also result in the loss of personal data and create financial losses through unauthorized logins to customer accounts, resulting in reputational damage and customer retention problems.
Karen Bolda, senior vice president, demand solutions, Expedia Group, said: “We’ve combined over 20 years’ experience in the fraud prevention space with our unwavering commitment to continually evolve our technology in response to changing partner needs, resulting in targeted business solutions such as Fraud Prevention as a Service.”
Bolda continued: “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, ultimately, giving their customers better peace of mind when they’re booking trips.”
The technology collaboration shows the progress the partnership is making between Expedia Group and Amex GBT, and symbolizes the strong relationship between the two organizations since Expedia Group sold Egencia to American Express Global Business Travel in 2021.
John Sturino, senior vice president of travel products and engineering, Amex GBT, said: “We value our long-standing partnership with Expedia Group and their AI-driven solutions that address the ever-evolving needs of business travel and its many stakeholders. This collaboration reinforces our commitment to our clients to deliver cutting-edge solutions that still meet the highest standards of security.”
