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News

Sift reveals capability to reduce false positives

Thursday 12 March 2020 14:10 CET | News

Sift has unveiled the launch of Insult Monitor, an industry-first capability for online businesses looking to facilitate revenue by reducing false positives.

False positives are purchases incorrectly identified as fraudulent. Insult Monitor is now available to Sift Digital Trust & Safety Suite and Payment Protection customers and its aim is to maximise revenue for online businesses by measuring fraud false-positive rates and allow those businesses to reduce friction for legitimate purchases.

According to a Sift survey, 36% of consumers have had a transaction falsely declined due to suspected fraud. Also, approximately three-quarters of those who have had their transactions declined have experienced insults as both new and returning customers. The study discovered that roughly a quarter of both first-time and repeat customers will shop with competitors to make the same or similar purchase after a transaction denial. However, with Insult Monitor, businesses can ensure legitimate users are able to speed through checkout to make their purchases, boosting and building long-term customer loyalty. 

Source: Link


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Keywords: Sift, Insult Monitor, false positives, fraud, digital trust, safety, fraudulent activities, transactions , loyalty, fraud
Categories: Fraud & Financial Crime
Companies:
Countries: World
This article is part of category

Fraud & Financial Crime

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