The report is based on a survey of almost 2,800 fraud prevention specialists in 34 countries, on five continents and according to the results, the critical differentiator between the top performers in fraud management and the other survey respondents, lies in the ability of the former group to balance three key aspects.
These points are: maximising revenue (and the acceptance of good orders), minimising fraud and chargebacks and controlling costs. The study found that there are some significant differences between those that prioritise a balanced approach – a group called the leaders – and those that don’t.
Just 18% of respondents are categorised as leaders, and they demonstrate lower chargeback rates – up to four times lower in leading organisations, have greater operational agility and demonstrate reduced manual review requirements.
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