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: [email protected], 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 [email protected]
Andy Freedman [email protected]