ThreatMetrix Review

Offers good stability and accurate fraud assessments but needs better integration capabilities


What is our primary use case?

The solution is used for fraud assessment of credit card transaction processing in a retail environment. That's the main thrust of it. Basically, it's a fraud assessment tool.

How has it helped my organization?

We were able to take steps to control fraud in several countries. That was the biggest benefit. It would be difficult for me to quantify in terms of dollars and cents what the benefit was, however, it did help control fraud.

What is most valuable?

The most valuable feature the solution has is that it is able to do a fairly accurate fraud assessment of a credit card transaction.  The rules used in fraud scoring can be based on many transaction attributes such as purchased IP address (country), amount, email address, etc.  Scoring rules can be configured by the merchant. The accuracy in its assessment is the most important thing for such a tool.

What needs improvement?

I'm not sure if I could answer questions about limitations accurately. Our implementation of it could definitely have used some improvement, however, that was a limitation on our part rather than on the part of the product. 

The initial setup is a bit difficult. During our implementation, we chose not to do a real-time integration. The integration was more of a batch asynchronous process. That could have been improved to make it more real-time.

I'm not aware of any areas in which the product needs to be improved.

The solution could be more powerful.

It would be useful if they could offer real-time processing.

There could be more features similar to what eCertify offers.

For how long have I used the solution?

I had probably started using the solution from about 2012 or 2013, or somewhere in there, up to the present. It's been about 7 years.

What do I think about the stability of the solution?

The solution is quite stable. We didn't experience outages and downtime. There aren't bugs or glitches. It's reliable.

What do I think about the scalability of the solution?

I would not be able to answer the question of scalability since our implementation was that not real-time. Therefore, responsiveness and scalability were not an issue.

There are three or four people in particular in our call center that deal with threat defense. There's a fairly limited number of people who use the solution in our organization.

We did want to increase usage for not only the US but other markets as well. However, that was not accomplished. It was limited by the company's flexibility.

How are customer service and technical support?

I have no access to technical support. I can't speak to the company's responsiveness or knowledgeability in this area.

Which solution did I use previously and why did I switch?

We did not use a different solution before this product, however, eCertify has since replaced ThreatMetrix.

We switched due to the fact that eCertify was more powerful, and it was also a technical requirement in relation to other enhancements that were made to the payment architecture. These other enhancements included tokenization. This added feature required that we changed the fraud processor.

How was the initial setup?

I wouldn't say that in our case, the solution had a straightforward implementation. My understanding from the people who did the set up was that it was somewhat complex. There was difficulty from their standpoint.

It took quite a bit of time to set up. It was a month or so. It may be a bit longer than the standard implementation of competition on the market.

I'm not sure if we followed a specific implementation strategy or not.

The solution does not require very much maintenance. There's hardly any needed.

What was our ROI?

We've definitely seen an ROI in relation to not only money but in product and risk reduction as well.

What's my experience with pricing, setup cost, and licensing?

The solution is a SaaS offering.

My understanding was that the pricing was pretty good. 

What other advice do I have?

I would suggest that a potential new customer that's in the market for such a product get quotes from the top three or four players. These would be ThreatMetrix, Kount Retail Decisions, eCertify, and CyberSource. Those are the main fraud assessment platforms that I'm aware of.

Fraud assessment is a good thing for merchants to implement. Fraud, in general, in the transaction processing space, is a big issue and becoming larger as the years go by. I would advise merchants to do engage with such fraud assessment tools as ThreatMetrix.

Overall, I would rate the solution seven out of ten.

It's not a higher ranking due to the fact that the integration has limitations with other vendors like Credit Card Gateway. Some of these things may change over time, however, the other products that I mentioned have more integration options with other vendors, and therefore that would be a limitation ThreatMetrix.

Which deployment model are you using for this solution?

Public Cloud
**Disclosure: I am a real user, and this review is based on my own experience and opinions.
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