Netherlands-based merchant and third-party risk solutions provider Owlin has added consumer sentiment and review data solutions to its offerings. As per the press release, the new Consumer Review Data feature was specifically designed to cater to the needs of risk teams within payment service provider (PSP) companies.

Context-wise, the decision to introduce this product comes to address a pain point for PSPs – more precisely, the new solution reportedly seeks to minimise manual review processes that are often costly, reactive, and inefficient. One of the key features of the Consumer Review offering is its ability to detect leading risk signals like signs of distress ahead of larger issues like a bankruptcy event. This capability is expected to provide PSPs with the ability to proactively mitigate risk, prevent potential financial disasters, and protect their operations as well as reputation.

The Consumer Review offering can also be leveraged for adverse media monitoring and, consequently, improve merchant risk management. This added capability reportedly builds upon Owlin's previous proprietary monitoring solution for PSPs. What benefits does the new offering entail? The newly added solution is expected to provide the following benefits: Real-time feedback and risk alerts – the product gathers consumer feedback and associates it with advanced risk signals, thus alerting PSPs to potential risks well in advance. Advanced analytics – as it uses AI-driven insights that are powered by large language models to track trends and detect the areas that require risk mitigation. Enhanced engagement and trust building – the new offering addresses concerns, and showcases negative reviews, among others, thus building trust in the PSP ecosystem. In-depth risk profiles – the product crafts risk profiles based on signals and consumer feedback.

As a result, it ensures that risk management decisions are data-driven and merchant-centric. Owlin is an AI-driven third-party risk and merchant monitoring solution provider that seeks to meet the needs of businesses. When it comes to its core offering, the company leverages artificial intelligence (AI) and natural language processing in a bid to extend data-based insights.

Earlier in 2023, the company revealed the introduction of an end-to-end know-your-customer solution similarly tailored to payment service providers that aimed to help them manage the merchant journey. .