Through its partnership with Accertify, vente-privee reduced its cost of fraud by 90%
With Accertify® Fraud Management, vente-privee has developed a comprehensive fraud prevention strategy, doubling its internal team productivity and increasing operational profitability.
Launched in 2001 by Jacques-Antoine Granjon and his seven associates, vente-privee has become a major player in e-commerce in Europe, creating the business model of online sales events, previously unprecedented in the world.
Up until the end of the1990s, brands would sell their end of stocks through "Wholesale discount stores." Since its creation in 2001, vente-privee offers a totally new concept combining event and exclusivity: each day, the site offers products or services at very competitive prices on a "first come, first served" basis. Limited number of operations in the year (2 or 3 per brand), very short period of sales (3-5 days on average), members-only access. Everything is done to protect the brands image.
This business model has allowed vente-privee to become a privileged tool for more than 2500 partner brands, in perfect agreement with the universe and the image of their products: fashion, fashion accessories, homeware, toys, sporting goods, high-tech, food, wine, entertainment, travel.
In 2011, vente-privee began to question the subject of risk associated with this business model. "At the time vente-privee had no overall fraud prevention strategy," says Son Nguyen, Projects Director, Information Systems, "File analysis was done with basic SQL comparison rules and excel files. We had a decent rate of fraud, fairly good even, which was absorbed as a necessary evil of our business model and our growth. "
However, he remained convinced that sooner or later, vente-privee would be the victim of a targeted attack by fraudsters networks. "Fraud evolves very fast and can take on catastrophic proportions," he adds, "we had to be prepared and anticipate for a possible turnaround; we had to professionalise the subject of fraud. "
In 2012, vente-privee chooses to partner with Accertify because not only of its expertise but also flexible solutions that facilitate an overall fraud prevention strategy perfectly adapted to vente-privee’s requirements.