Ecommerce risk intelligence company Riskified has announced partnering with fraud and financial crime advisory services company Deloitte in order to provide merchants with real-time insight into how their chargebacks, approval rates, and fraud costs compare to similar companies in their space. This benchmarking service helps retailers formulate a scorecard that can uncover new opportunities to reduce operational costs, lower chargeback, and fraud losses, and boost revenues by minimising false declines.

This offering is underpinned by Riskified’s ecommerce, fraud, and identity intelligence derived from analysing over 2. 5 billion transactions worldwide. This, in conjunction with Deloitte's experiences in payment and fraud advisory, will help merchants elevate their payment and fraud capabilities.

Benchmark analyses cover a wide range of industries including fashion, ticketing, travel, luxury, digital goods, and more. Key metrics include approval rates, authorisation rates, fraud losses, false declines, chargebacks, and the cost of policy abuses surrounding returns, refunds, promotions, and resellers. As stated by a Riskified representative, fraud has evolved alongside ecommerce at an unprecedented pace, and through its global merchant network, fraud expertise, and chargeback guarantee model, the company has fine-tuned its ability to understand the cost of fraud.

The offering is currently available via Deloitte Canada, with plans to extend into new regions in the future. Importance of optimising performance metrics According to a Deloitte representative, improving profitability is a key topic for businesses today and as merchants continue to invest in their ecommerce experience, optimising performance metrics such as transaction approval rates and false decline rates has become a critical priority. With Riskified’s wealth of transaction and customer identity data across industries and geographies, Deloitte can better evaluate and measure merchant risk and provide a more targeted solution to improve the digital transaction experience.

Riskified features Riskified aims to empower businesses to grow ecommerce revenues and profit by mitigating risk. Merchants and brands partner with Riskified for protection against chargebacks, to fight fraud and policy abuse at scale, and to improve customer retention. The company is supported by ecommerce risk analysts, data scientists, and researchers, and Riskified’s machine learning platform analyses the individual behind each interaction to provide real-time decisions and robust identity-based insights.

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