Powering the Search to Combat Fraud in Return Policies
Since earlier this year, cybersecurity and fraud cases have dramatically increased. Various consumer-centric industries have begun adopting safety and security measures to prevent fraud and to protect both themselves and their consumers. Throughout the years, Malaysian retail companies have utilised traditional refund processing methods in individual retail stores – such as searching through physical and electronic transaction records using specific personal details (i.e. last four digits of credit cards) – to validate return transactions.
Searching through physical and electronic records would take more than several minutes and is only restricted to in-store access. This has always been one of the biggest daily challenges faced by retail IT teams, internationally. To reduce the friction involved in returns, retail companies has been in dire need for a solution that would enable teams to search across billions of lines of data in the shortest time possible. Additionally, a dire need for a solution that can be easily scaled to meet the data demands that can index all data collected from each receipt across every store.
Therefore, a more innovative approach needed to be in place to meet these needs, whilst simultaneously improving the overall experience and security of said company and their consumers. The search for a better way to validate that returns were genuine eventually led to the development of Elasticsearch. Upon application, Elasticsearch enables employees to search through years of transactional data as today’s tech advancement enables store employees to carry out more detailed searches across all transactional data. This technology also allows them to quickly find and validate transactions, and refund customers with the exact owed amount.
Elasticsearch is streamlined process that is beneficial for everyone involved in the returns process and has effectively combatted the potential for fraud. A software that is bound to increase business efficiency in retail companies nationwide, Elasticsearch would also be beneficial for other industries that require advanced methods in data search to help make customer service operations more seamless.
Accelteam has been actively working with customers from the various technology industries driving business improvements through advanced security software and essentially through the prevention of fraud. With the aim to promote a safer ecosystem for consumer-centric services, Accelteam has the solutions to help companies protect themselves and their consumers.
In fact, for the past two decades, AccelTeam has been one of the leaders in providing intelligent technology throughout the region. If you would like to learn more about Elasticsearch, please reach out to us at firstname.lastname@example.org.