With Identity Explore, merchants will also be able to offer tailored customer experiences and customise policy decisions while minimising losses from policy-related abuses. Policy Protect relies on machine learning technology to detect and prevent policy abuse in real time. It leverages a proprietary engine that forms identity clusters from billions of accounts, behaviours, and transactions across a global merchant network. In doing so, the system expands the view of customer identity beyond their singular profile with a merchant.
Identity Explore represents a high-resolution visualisation of Riskified’s identity engine, allowing merchants to investigate and interact with customers in new ways while optimising and personalising their policies. According to Riskified officials cited by businesswire.com, Identity Explore allows merchants to learn who is a good customer and who is not in order to be able to apply the right policy to the right customer.
Eyal Elazar, Product Expert at Riskified, provided an exclusive statement for ThePaypers in which he offered a few more details about Identity Explore and identity-level information:
‘The current economic situation has had a noticeable influence on fraud trends, which in turn have hit merchants’ bottom line. At the same time, merchants are hard at work maintaining excellent customer experiences for their loyal customers. To accomplish this, it’s crucial for merchants to know exactly who their customers are so they can provide a shopping journey that is seamless and not impacted by friction put in place to deter fraudsters. Identity-level information gives merchants the ability to create experiences that are tailored not to anonymous accounts but to valuable customers.’
Riskified aims to help businesses grow their ecommerce revenues and profit by mitigating risk. The company relies on a machine learning platform that analyses the individual behind each interaction to provide real-time decisions and identity-based insights.
In November 2022, Riskified has integrated with the SAP Commerce Cloud platform to give merchants easy access to Riskified fraud prevention solutions. With this integration, Riskified was able to support all the major ecommerce platforms, including Salesforce Commerce Cloud, Adobe Commerce Cloud (Magento), Shopify, and VTEX.
SAP Commerce Cloud is an enterprise-focused ecommerce platform that is customisable, composable, and scalable. A pre-built connector makes integrating with Riskified faster and simpler for merchants on SAP Commerce Cloud and reduces integration investment costs.
In October 2022, Riskified has partnered with payments company Novatti to provide more secure payment solutions. The two companies have entered an exclusive partnership that allowed Novatti to incorporate Riskified’s Chargeback Guarantee technology. This made Novatti the only online card processor in the Asia Pacific region that guarantees 100% protection against fraudulent chargebacks to businesses.
In August 2022, Riskified formed a similar partnership with Aurus. Following this collaboration, merchants working with Aurus received access to Riskified’s proprietary automated risk-based decisioning solution, which takes on the merchant’s liability for fraud. Supported by transaction data networked across hundreds of merchants, Riskified’s machine-learning platform can provide businesses with the accuracy required to stay ahead of evolving fraud trends.
For more information about Riskified please check out their detailed profile in our dedicated, industry-specific Company Database.
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