HFA’s eCommerce Fraud Prevention Solution: Riskified

Share on facebook
Share on twitter
Share on linkedin
Share on email
Riskified Fraud prevention HFA blog

Riskified, one of HFA’s newest members, empowers businesses to realize the full eCommerce potential by making it safe, accessible, and frictionless. The world’s largest brands trust us to increase revenue, manage risk, maximize fraud prevention, and improve customer interactions.

Leading With Customer Centricity in a Digital-First World

Customer centricity has long been a cornerstone for eCommerce growth, but rapid shifts in purchase behavior over the past two years have placed even greater emphasis on the subject. Forrester analysts have stated that a customer-centric strategy will yield at least a 700% ROI over 12 years.

How does a fraud management platform help with customer centricity? Fraud prevention measures, such as tedious authentication processes, create friction throughout the customer journey that can be more detrimental to merchants than actual fraud. In today’s competitive eCommerce environment, relying on outdated or one-size-fits-all fraud prevention solutions is not sustainable and will only hinder customer-centric shopping experiences.

Save On Operational Costs While Increasing Revenue

Our research shows that as many as 66% of orders declined by merchants — 2 out of 3 — are legitimate. That’s a significant amount of revenue left on the table and many unhappy customers that will probably go for the competition.

Riskified’s machine learning platform increases approval rates, deters abusers, and keeps your customers’ accounts safe without introducing roadblocks into the buying journey.

In a recently commissioned study called The Total Economic Impact of Riskified Chargeback Guarantee, Forrester Consulting found that Riskified customers have seen an ROI of 594% from our machine learning platform over three years. One of the merchants interviewed said:

 “Not only did we increase our approval rate, but we also created a loyal customer base. We started noticing that those customers are coming back and shopping more. Riskified played a role in creating that loyal customer.”

              – Head of eCommerce Fraud and Risk Management, a fashion retailer.

How Riskified Does It

Our machine learning platform helps merchants:

  • Increase sales – Removing friction with instant fraud review leads to smooth customer-centric shopping experiences that help maintain your competitive edge and maximize customer lifetime value.
  • Reduce costs – Our end-to-end solution eliminates the need to operate expensive, outdated legacy systems and manual review teams.
  • Scale their business Riskified is a flexible partner that enables your organization to safely adapt to market trends, enter new territories, and expand your omnichannel offer.

Online fraud is difficult to manage, and even the best fraud teams don’t make all the right decisions. Tackling these challenges while overseeing your business’s day-to-day can be a full-time job. Riskified ensures only legitimate orders come through, so merchants can dedicate more resources to delivering optimal customer services. You can focus on global expansion while enjoying increased approval rates, higher revenue, and the protection of a 100% chargeback guarantee.

 

Learn more about HFA’s Solution partner, Riskified.

Share on facebook
Share on twitter
Share on linkedin
Share on email
Looking to grow your business? Look no further.
Becoming a member of the HFA has more benefits than we can list here. Click the button to learn more.
Trending In

HFA Solution Partners

Fortiva Logo

Fortiva Retail Credit, a wholly-owned subsidiary of Atlanticus Holdings Corporation, is a leading provider of

Form Piper Website Logo

We help retailers automate consumer financing! Our software platform integrates with your current lending options,

Mariner Finance

Mariner Finance provides merchants and buyers with the credit needed to drive sales. Our dual-use

Katapult Website Logo

Katapult is the leading omnichannel point-of-sale payment platform providing solutions for retailers and consumers. Our

ChargeAfter Website Logo

ChargeAfter is the market-leading Buy Now Pay Later platform. ChargeAfter connects merchants and multiple lenders

Sign up for more!
From HFA events to the latest member news, get updates straight to your inbox.

Not an HFA member?

Don't miss out on all of our association benefits!