Kinguin's Revolution in Fraud Prevention: A Conversation with Egemen Ertop

In the dynamic landscape of online gaming, where transactions happen at lightning speed, combating fraud can be a significant challenge. However, Kinguin, a leading digital marketplace for gamers, has emerged as a pioneer in fraud prevention, boasting one of the lowest fraud rates in the industry. We sat down with Egemen Ertop, Head of Risk & Fraud Intelligence at Kinguin, to delve into their innovative strategies and remarkable success story.

Overview of Kinguin's Approach

Egemen reveals that Kinguin has undergone a transformative shift in its approach to fraud detection and risk intelligence over the past two years. Moving away from reactive, rule-based methods, they've embraced behavior-based strategies, automation, and machine learning. Every decision is data-driven, minimizing customer friction while maximizing the effectiveness of manual reviews.

Strategies and Technologies

Kinguin's success is not accidental. Egemen highlights the focus on optimizing existing tools and operations without incurring additional costs. Despite a surge in industry-wide fraud, Kinguin has significantly lowered fraud rate by a staggering 87% since mid-2022, a testament to proactive measures and cutting-edge technologies. 

Remaining alert to changing fraud trends is crucial. Egemen emphasizes Kinguin's proactive stance and the importance of seamless communication within the team to stay one step ahead of fraudsters.

Role of Data Analysis and Machine Learning in User Experience

Data analysis and machine learning are fundamental to Kinguin's fraud prevention efforts. Egemen stresses the importance of verifying hypotheses and leveraging AI to handle the bulk of traffic, allowing experts to focus on critical decision-making.

Kinguin adopts a customer-centric approach, minimizing friction unless there's substantial evidence of fraudulent activity. This mindset shift, albeit challenging, has proven effective in maintaining a seamless user experience.

Collaboration and Communication

Effective collaboration with industry partners, regulatory bodies, and payment service providers is pivotal in enhancing fraud prevention practices. Egemen underscores the significance of constant communication and transparency. 

Kinguin has been partnering with Ravelin since 2020. However, initial optimization issues and a lack of focus on future vision hindered the tool's performance. Upon assuming leadership of the team in 2022, Egemen prioritized optimizing the tool, recognizing its potential despite underutilization. After several months of dedicated effort, significant improvements were achieved. This success underscores the collaborative effort between Kinguin and its partners, demonstrating the proactive approach taken to enhance fraud prevention measures. Additionally, Kinguin emphasizes automation, particularly in ID verification processes, to streamline customer experience and minimize friction.

Educating Users

While Kinguin prioritizes customer awareness, Egemen acknowledges the industry-wide lack of fraud education. Despite proactive measures, there's still much ground to cover in raising awareness among customers and stakeholders. 

In terms of educating users about potential fraud risks and best practices for safe transactions, Kinguin takes a multifaceted approach. While actively engaging in various conferences and webinars about fraud, Egemen and his team ensure that they share valuable insights and knowledge gained from their experiences. For instance, Egemen recently participated in RavCon 24, an event organized by Ravelin in London, where he shared his expertise with industry leaders. This commitment to knowledge sharing not only enhances awareness within the gaming community but also fosters collaboration and exchange of best practices among industry stakeholders. Additionally, within the Kinguin platform, users receive timely notifications and updates regarding any fraudulent activities, empowering them to make informed decisions and stay vigilant against potential risks. Despite these efforts, there remains a recognition within Kinguin of the need for broader industry-wide education and awareness initiatives to combat fraud effectively.

Overcoming Challenges and Future innovations

Egemen reflects on the cultural shift within Kinguin, emphasizing the need for adaptability and a willingness to challenge the status quo. Mindset change was pivotal in aligning the team with the company's evolving standards and expectations.

Looking ahead, Kinguin aims to streamline operations through automation and AI, empowering experts to focus on strategic decision-making. Egemen envisions a future where manual interventions are minimized, maximizing efficiency and effectiveness.

Summary

In conclusion, Kinguin's journey shows a significant shift in fraud prevention, blending cutting-edge technology with a customer-centric approach. Egemen's insights shed light on the challenges, triumphs, and future aspirations of a company at the forefront of innovation in the gaming industry. As they continue to push boundaries and redefine standards, Kinguin sets a shining example for others to follow in the ongoing battle against fraud.