in   Covery

What is Covery?

Covery is a global risk management platform helping online companies prevent fraud, mitigate risks, and grow revenue.

Around 23% of internet users have been a victim of online identity theft in different forms (as of October 2018).* 
760 million euros was the value of card fraud loss in 2018, meaning an increase of 19% during the period of 2017-2018.* 
E-commerce vertical accounted for 30.76 percent of rejected fraudulent app installs in Q1 of 2018, is the most affected industry by app fraud in Europe.** 
Bonus abuses in the i-gaming industry rose to 287% during 2017-2019.*** 

In any industry, fraud directly leads to revenue, license, and customer losses.
Thus, it is crucial to ensure safety, risk assessment, and fraud prevention for businesses and their users with efficient and not standing-still solutions. 

Covery was created in 2016 by the team of talented risk managers and data scientists with 10+ years of experience of risk mitigation in low- and high-risk industries. 

The main idea was to create a simple tool that can cover all business needs starting from chargebacks prevention and to AML / PEPs screening. 

With Covery, our customers can create a specific risk logic that analyzes the connections among locations, devices, identity, and behavioral patterns throughout the whole funnel from Registration and to the Transaction and Payout step.

We work with: 

Dating 
iGaming 
Payment Service Providers
eCommerce
and 19+ more industries

Business issues that can be solved with Covery: 

regulatory compliance, responsible gaming, KYC&KYB procedure automation, transaction analysis, risk management, chargeback mitigation, payment fraud, account theft, device emulation, and many others.  

Our approach

In most cases, customers reduce chargeback ratio by 62% and increase fraud declines by 79% after the implementation of the Covery risk assessment approach. 

Customizable rule engine allows our customers to create rules and scoring models that fit any business purpose, calculate dynamic and static thresholds, velocity checks, and any other formulas within a few clicks and get full flexibility. 

Customizable machine learning models allow to use a built-in framework for Supervised Machine Learning, integrate ML models easily without the development resources, predict VIPs/whales, fraud, chargebacks, loyal customers, and have as many ML models as a business need. 

Under the hood, Covery uses the latest frameworks for machine learning that are built into the platform and could be combined along with the rules management algorithm to guarantee the best outcomes.

Why us? 

We understand your pains & challenges. 

Thus, we provide technology with a unique approach to solve different fraud issues and to create powerful risk strategies based on collaboration between your marketing, product, compliance, risk & AML teams. 

Have questions? Contact us.

*Acc. to UK Finance, Fraud The Facts 2019
**Acc. to Statista, Value of card fraud losses in Europe 2018, by country
***Acc. to Legal Sports Report, Gambling Industry Report Finds 95 Percent Growth In Mobile Transactions 

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