Company news & press releases
Riskified Takes a Stand Against Fraud as a Leading Supporter of International Fraud Awareness Week 2024
New Research Shows Consumers Pay the Price of Policy Abuse Epidemic As Retailers Worldwide Tighten Return and Refund Policies
Gamechanger in swimming pool technology Beatbot hits $15 million in sales in just three months
AKOMEYA TOKYO Enhances Fraud Prevention and Boosts Ecommerce Performance with Riskified
The partnership between AKOMEYA TOKYO and Riskified will assist AKOMEYA TOKYO in overcoming several business challenges
Japan, Tokyo – August 18, 2024 – Riskified (NYSE:RSKD), a leader in fraud and risk intelligence, is proud to share a case study highlighting the remarkable success of AKOMEYA TOKYO, a renowned food retailer based in Japan. Faced with escalating chargebacks, declining authorization rates, and an opportunity to improve operational efficiencies, AKOMEYA TOKYO turned to Riskified for a comprehensive solution that yielded excellent results.
Following the onset of the COVID-19 pandemic, AKOMEYA TOKYO faced an unprecedented surge in fraudulent transactions. Despite employing a local risk scoring solution in Japan, the company continued to struggle with increasing chargebacks, declining authorization rates, and the operational burden of manual reviews. AKOMEYA TOKYO’s chargeback rate had escalated to over 1%, which is considered high risk by payment issuers and banks, and posed a substantial risk to the business’s financial stability and reputation.
AKOMEYA TOKYO turned to Riskified to help them address these pressing challenges. Leveraging Riskified’s AI-powered fraud and risk intelligence platform, AKOMEYA TOKYO achieved full automation of its fraud prevention operations. The results are from the six months following onboarding:
- Chargeback Rate: Reduced to 0%
- Fraud Approval Rate: Increased by 3.1%
- Authorization Rate: Boosted by 12.0%
By fully automating fraud prevention operations, AKOMEYA TOKYO has not only mitigated fraud-related issues but also enhanced transaction approval processes and reduced operational strain.
“Our collaboration with Riskified has driven significant improvements,” said Ms. Ayumi Shima at AKOMEYA TOKYO. “We’ve eliminated chargebacks, enhanced our fraud approval rates, and seen a substantial increase in authorization rates, allowing more legitimate customers to purchase from us seamlessly. These results reflect our fundamental commitment to leveraging innovation and delivering the highest standards of service to ensure customer satisfaction.”
“We are thrilled to see such outstanding results with AKOMEYA TOKYO,” said Aviram Ganor General Manager EMEA&APAC, Riskified. “Our mission is to empower businesses to grow confidently by mitigating risks associated with fraudulent transactions. AKOMEYA TOKYO’s success is a testament to the effectiveness of our AI-driven solutions and our commitment to supporting the ecommerce industry in Japan and worldwide.”
