A Large Retailer's Fraud Solution Journey
A North American online retailer found that fraud losses ate at profits and affected the customer experience. The retailer’s manual fraud management processes could not scale with the volume of its online and phone-based sales. As a result, fraud professionals at the company decided to implement a new fraud management solution. Unfortunately, the first solution didn’t have a decision engine to create more-advanced fraud detection rules to fight increasingly sophisticated fraud techniques.
The retailer implemented a different solution that allowed them to create advanced fraud detection rules and increase efficiency of fraud management functions within the department to review more orders faster. The team was also able to absorb additional fraud-related functions (chargebacks and collections) that other departments previously handled, without increasing staff. Managers could also track overall performance with online reports, which allowed analysts to work from home.