riskified pre-holidays fraud team tune-up [webinar]

Riskified is a turnkey solution for risk & payment professionals

Since 2012, Riskified has been reviewing, approving and

guaranteeing transactions, helping merchants grow.

Meet

Meet

Andy Freedman CMO

Eido Gal Co-founder & CEO

Today’s Agenda:

Our Goal: Optimal risk management team performance during the holiday season Areas we will cover: •  Preparation: Handling the load •  Automation: Increasing auto approvals •  Optimization: Improving manual process

The holidays

Approved  Orders  Fraud  On  Entry  

The holiday challenges

The holiday challenges

Sudden spike in volume

Higher stakes

Heightened stress

Increased time sensitivity

Inexperienced team members

STEP 1 Preparation:

Handling The Load

Preparation: Team Capacity

15 Orders

per hour

30 Orders

per hour

50 Orders

per hour

Preparation: Responsibility & Risk

Value $

Up to $500

Up to $250

Domestic only

Tangible goods

Up to $3,000

Up to $2,000

Digital goods

International with AVS only

All $ value All $ value

All locations

All order types

Declines Order type

Preparation: Decision Accuracy & Alignment

Everyone learns from previous mistakes & success stories  

Preparation: Know Where You Stand (Metrics)

Manual Review

% Routed to Manual

% Approvals

Avg Review Time

Declines

% Declines

Chargebacks

% Chargebacks

Manual vs Automatic

Goal: Prevent fraud without turning away good customers  

Preparation - Summary

Team’s capacity is crucial

Assign responsibilities

clearly

Share best practices across

team

Determine performance

goals

STEP 2 Automation:

Increasing Auto Approvals    

Automation – Your Team Knows Best

Approve orders when email domain matches IP range

Email: John.R@USBank.com, IP range: US Bank Idea  

Statistical Validation  

Tested on 80,000 orders

99.8% accuracy

Email & IP range match orders aren’t manually reviewed

Other options – Batch query, Help sheet for review team

Auto Approval

Rule  

Use analyst insights to create rules for easily approvable orders  

Automation – Holiday Specific Rules

Next day shipping International orders

High order value Promoted items

Create new rules and check existing rules are holiday-relevant  

Automation – Use ALL Available Information

Promo codes

Guarantee & returns policy

Referring traffic

Returning card / email

Make every effort to ensure you aren’t overlooking valuable data  

Automation – Summary

Your team knows best

Holidays have unique

characteristics

Use ALL resources to lighten the load

Never auto decline

STEP 3 Optimization:

Improving Manual Process    

Optimization: Learning From Previous Orders

Approved after long review

International orders

Decline patterns

Optimization: Approved After Long Review Time

Wrong person reviewed transaction

Focus was on wrong data points

Optimization: Decline Patterns

Proxies, encrypted emails Multiple cards

Billing ≠ Shipping

Fraudulent vs Legit Purchase Story  

Optimization: International Orders

Optimization: Working with Customer Support

No response? How to reach out? Why to avoid?

Empathy Sorry for the friction Transparency Why we are writing Clarity What we need from you Reliability This message is legit

Reaching out for additional information  

Optimization: Summary

The customer comes first

Identify key markets & data sources

Reduce false positive declines

Strive to minimize review time

Preparation Volume is central challenge Know team capacity, set clear policy for approvals, declines and escalation

Automation Auto approve to lighten load Use team insights, adjust for unique holiday characteristics, be creative & use all data

Optimization Inefficiencies will be amplified Display data clearly, know when to use additional data sources, minimize customer friction

Golden Takeaways

Interested in continuing the conversation?

www.riskified.com

Eido Gal eido@riskified.com

Andy Freedman andy@riskified.com