Riskified

What is Riskified?

Riskified is an AI-powered fraud prevention platform that helps ecommerce businesses maximize revenue while minimizing fraud risks. The platform uses machine learning and automation to analyze transactions in real-time, providing instant decisions on order legitimacy.

Top Features:

• Chargeback Guarantee: full financial coverage for fraudulent transactions approved by the system.
• Real-time Decision Engine: processes over 480 data points to validate orders in milliseconds.
• Policy Protection: prevents abuse of refunds, promotions, and reseller activities.

Pros and Cons

Pros:

• Accuracy: delivers 2-3x better fraud detection compared to competitors in direct testing.
• Speed: provides instant transaction validation without compromising security measures.
• ROI: merchants achieve up to 594% return on investment through reduced chargebacks.

Cons:

• Asian Market Coverage: limited effectiveness in Asian markets compared to other regions.
• Algorithm Updates: lack of notifications when system algorithms are modified.
• Manual Review Options: limited flexibility for implementing manual verification processes.

Use Cases:

• Fraud Prevention: detecting and blocking fraudulent transactions before they process.
• Market Expansion: supporting businesses entering new markets with minimal fraud risk.
• Customer Experience: reducing false declines while maintaining strong security measures.

Who Can Use Riskified?

• E-commerce Platforms: online retailers seeking to protect their revenue and customer base.
• Digital Service Providers: companies handling online transactions and digital goods.
• Global Merchants: businesses operating across multiple markets and jurisdictions.

Pricing:

• Free Trial: not available
• Pricing Plan: custom pricing based on transaction volume and business needs

Our Review Rating Score:

• Functionality and Features: 4.8/5
• User Experience (UX): 4.7/5
• Performance and Reliability: 4.9/5
• Scalability and Integration: 4.6/5
• Security and Privacy: 4.9/5
• Cost-Effectiveness: 4.5/5
• Customer Support: 4.7/5
• Innovation: 4.8/5
• Data Management: 4.6/5
• Customization: 4.5/5
• Overall Rating: 4.7/5

Final Verdict:

Riskified stands out as a leading fraud prevention solution with exceptional accuracy and real-time processing. While it excels in most global markets, some regional limitations exist. The platform delivers substantial ROI through reduced chargebacks and increased approval rates.

FAQs:

1) How does Riskified's chargeback guarantee work?

When Riskified approves a transaction that later results in fraud, they cover the full cost of the chargeback, including both the product and shipping costs.

2) What is the average approval rate increase with Riskified?

Merchants typically see a 4-8% increase in approval rates after implementing Riskified's solution.

3) How long does implementation take?

Implementation typically takes 2-4 weeks, depending on the complexity of your business and integration requirements.

4) Does Riskified support multiple currencies and payment methods?

Yes, Riskified supports transactions in multiple currencies and works with various payment methods, including alternative payment solutions.

5) What integration options are available?

Riskified provides API integration, direct platform plugins, and custom integration solutions based on business needs.