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Covery Wants to Provide You with Real-Time Risk Management

Covery is end-to-end risk management, real-time transaction monitoring, chargeback prevention, and KYC/AML automation platform. 

We strive to make risk mitigation as simple and streamlined as possible, even for businesses without risk managers on board. 

Our values are ensuring transparency of online transactions for Covery users, providing a better customer experience through automation and helping online merchants fight fraud in all its forms.

What Problem Are You Trying To Solve? 

Covery provides simple to use tools for real-time fraud prevention, chargeback claim prevention, and risk mitigation. We help merchants protect their revenue streams by quickly identifying and shutting down fraudulent schemes and preventing them from occurring in the future.

How Are You Solving That Problem?

We use a combination of rule-based business risk logic engine, AI-powered analytical model, device fingerprinting, and Trustchain global reputation record knowledgebase. We also have integrated a worldwide PEP database powered by Dow Jones and have direct instant access to the latest versions of their PEP/RCA/sanctions watch lists. This helps our customers quickly identify whether their users are indeed who they are and flag suspicious transactions on the fly in order to nip fraudulent activities in the bud.

How Has The Pandemic Impacted Your Company?

With more business coming online in the past 2 years, even more companies needed our services to stem the fraud wave. Covery is steadily gaining new customers in the EU and US markets, as well as in the Gulf region. 

Where Do You See Your Company Going In 5 Years?

We aim to become one of the world-leading risk mitigation and fraud prevention solutions.

What Is the Next Big Challenge In Information Security?

With more and more people doing business online in an interconnected world, we leave ever bigger digital fingerprints. Fraudsters leverage the common people’s negligence of basic cybersecurity rules to perform identity theft and use forged identities to conduct fraudulent activities. Identity theft is on the rise since the pandemic started, and businesses have very few tools in their arsenal to fight the fraud back. Enabling any online merchant to quickly and accurately identify potential fraud threats is key to startup and SMB survival in the long run.

How Do People Get Involved/Buy into Your Vision?

We provide 5 free Trustchain checks on our website to enable visitors to check some user identifiers, no strings attached. If you like what you get and can identify a fraudster using this tool, you are welcome to order a free demo of the Covery platform.

For example, using Covery helped one customer uncover a long-running fraudulent scheme using geographically spread hexagons of emulated devices, with losses totaling up to $300,000 throughout 2 years. After deploying countermeasures with Covery, the customer blocked this type of fraud from happening ever again, saving millions in potential revenue.

Another customer suffered fraudulent chargebacks from his competitor, with a chargeback ratio nearing 2.9% and risking being banned by Visa and MasterCard. We helped identify the pattern and enact additional risk logic rules, preventing the situation from happening again. This allowed the customer to lower his chargeback ratio to 0.9% in half a year, become a low-risk merchant instead of being a high-risk one, double his turnover and sign new contracts with payment processors and banks.


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