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Riskified Unveils “Identity Explore” to Help Merchants Understand Who Their Customers Truly Are and Fight Policy Abuse
Identity Explore heralds the next frontier of risk intelligence, enhancing Policy Protect which prevents merchant policy abuse at scale and unlocks millions in savings
Jan. 17, 2023, New York, NY – Riskified (NYSE: RSKD), a leader in eCommerce risk intelligence, today revealed the next generation of its Policy Protect product through the addition of “Identity Explore”’ – a revolutionary new capability allowing merchants to visualize customer identities and behavior, tailor customer experience and customize policy decisions.
After a decade honing its fraud prevention capabilities, Riskified expanded its platform to help merchants stem significant losses from policy-related abuses. Policy Protect is a groundbreaking solution that uses machine learning to detect and prevent policy abuse in real-time. It is powered by a proprietary engine that forms identity clusters from billions of accounts, behaviors and transactions across a global merchant network, broadening the view of customer identity beyond their singular profile with a merchant.
Today’s introduction of “Identity Explore” presents a major leap forward: a high-resolution visualization of Riskified’s identity engine, giving merchants the ability to analyze, investigate and interact with customers on a whole new level. Identity Explore empowers merchants to optimize, and ultimately personalize, their policies with confidence.
“It’s a supreme balancing act for merchants to provide generous policies to shoppers while keeping an eye on the bottom line. With Policy Protect, we’re empowering merchants to feel free to be lenient with their loyal customers while stopping abusers, and losses, with pinpoint accuracy,” said Assaf Feldman, CTO & Co-Founder of Riskified. “Identity Explore takes us an exciting step further, giving merchants instant insight into who is a good customer and who is not, so that they can apply the right policy, to the right customer, at the right time.”
Using Policy Protect, many leading retailers have saved millions of dollars blocking policy-related abuses. Merchants have been able to prevent 15x more abusive returns and refund claims, detect nearly 95% of unauthorized resellers and save 70% of their promotion budget by thwarting shoppers misusing coupon and promo codes.
“GoPro values delivering superior eCommerce experiences to customers, which is why we value our partnership with Riskified. Their innovations like frictionless fraud protection–and now the capability to investigate policy claims with robust identity data–will help us tailor interactions and policies at the individual level and deepen relationships with our loyal customers,” said Kacey Sharrett, VP, eCommerce, GoPro.
To learn more about policy abuse and how merchants can mitigate its effects, download IDC’s spotlight report “Policy Abuse: From Fraud Prevention to Profit Enablement.”
About Riskified
Riskified (NYSE:RSKD) empowers businesses to grow eCommerce revenues and profit by mitigating risk. The world’s largest merchants and prestige brands partner with Riskified for guaranteed protection against chargebacks, to fight fraud and policy abuse at scale and to improve customer retention. Supported by the largest team of eCommerce risk analysts, data scientists and researchers, Riskified’s machine learning platform analyzes the individual behind each interaction to provide real-time decisions and robust identity-based insights. Learn more at Riskified.com.
