SOURCE: Ethoca

July 07, 2008 04:00 ET

dabs.com Takes E-Commerce Fraud Offline With Ethoca

Innovative Online Retailer Enhances Internal Process With Community Approach to Fighting Fraud

DUBLIN, IRELAND--(Marketwire - July 7, 2008) -


NEWS FACTS

  • Ethoca, the leader in collaborative fraud management, today announces that dabs.com, a UK-based online retailer of computing and consumer electronics goods, has joined the fraud-fighting community to bolster its own and the community's efforts in the fight against fraud.
  • dabs.com, a wholly owned subsidiary of BT, typically processes around 5,000 customer orders every day -- resulting in sales topping the £200 million mark, with this number set to increase.
  • According to a recent report released by Verdict Research, online spending rose 35 percent to £14.7 billion in the U.K. in 2007 and is growing at its fastest rate in six years. With no end in sight to the online spending boom, and dabs.com's leadership position as an e-tailer through its nine-year history online, it is imperative that the company take an industry lead in continually finding a way to minimize the impact of fraud.
  • This is precisely what Ethoca is able to deliver for dabs.com. Through a vast pool of community transaction histories, Ethoca allows dabs.com to leverage the payment experiences of a wide array of companies to not only reject the bad transactions, but accept more positive ones as well -- all in a way that is not a competitive threat. Ethoca enhances dabs.com's current fraud-management practice to keep up with the speed of its fast-paced and growing business.
  • This is no small task when the industry at large is often hit by fraud despite having internal tools in place to protect against malicious activity. Fraudsters have banded together to form a well-organized attack and nothing other than the power of community is strong enough to fight back -- something only Ethoca can provide.
  • Ethoca is driving collaboration for fraud management in e-commerce and other customer-not-present environments, including phone, fax or mail-order. By securely connecting its members to a collective pool of payment experience information, Ethoca enables its members to make more informed decisions about their customer transactions in a way that is efficient, effective and ethical, and in a way that is not a competitive threat.

QUOTES

"For a leading online retailer like dabs.com, dealing with the volume of orders that pour in while still minimizing the risk of fraud is a huge endeavor," said Andre Edelbrock, CEO, Ethoca. "But it's that volume of information that makes dabs.com such a valuable member to the community. When a leading online retailer like dabs.com stands up and takes notice that Ethoca is an incredibly viable means to fighting fraud, it puts the entire industry on notice."

"As a pioneer in the world of online retailing, we not only find it crucial to our business to identify the most effective tools to fight fraud -- we consider it our obligation to the industry," said Paul Sharrock, IT director of dabs.com. "Ethoca believes that fighting fraud is not about one company versus many fraudsters, but rather the power of community which is something we embrace fully. The community will not only be powerful for our own business in combating fraud, but for the industry at large as more retailers join the fight."

About Ethoca

Working in partnership with forward-thinking businesses, individuals and law enforcement, Ethoca is making e-commerce safer and more profitable by building the first international Collaborative Anti-Fraud Community.

To be more successful in combating fraud, companies must collaborate within and across industries by securely sharing transaction experiences in a way that is not a competitive threat. Ethoca enables businesses that operate in customer-not-present environments (Internet, phone, fax or mail) to make more informed decisions about their customer transactions, by sharing transaction experience data in a way that is secure, automated, effective and ethical. Community members see reduced fraud, lower fraud-related costs, increased revenue from fewer wrongly rejected orders and improved customer satisfaction rates.

Ethoca™ is a registered trademark of Ethoca Limited. For more information about Ethoca visit www.ethoca.com.

About dabs.com

dabs.com is one of the UK's most successful online IT retailers with over 9 years of online retail experience.

Growing from its roots as the traditional mail order reseller Dabs Direct, the Dabs business model has evolved significantly during recent years in line with a drive to enhance the customer's online buying experience through the exploitation of advancements in digital technology. The dabs.com website offers around 15,000 products to its 2 million registered online buyers across the entire UK.

On 28th April 2006, dabs.com became a wholly owned subsidiary of British Telecommunications plc (BT). Learn more at: www.dabs.com.

Contact Information

  • Contact information:
    Matthew Cross
    Axicom
    +44 (0) 208 392 4079
    Email Contact

    Louise Derbyshire
    dabs.com
    +44 (0) 870 429 3701
    Email Contact

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