Websites using Riskified

Okay, let s break down Riskified. Here s an overview encompassing its business, revenue, alternatives, pricing, and customer care details:

Riskified Overview

• What They Do: Riskified is a software company that specializes in e-commerce fraud prevention. They use machine learning to analyze online transactions in real-time and determine the likelihood of fraud. Instead of just flagging suspicious orders, they approve or decline orders and take on the financial responsibility for chargebacks on approved orders that later turn out to be fraudulent. This is often referred to as a chargeback guarantee.
• Target Audience: Riskified primarily caters to high-volume online retailers and businesses that process a significant number of online transactions. They are particularly attractive to businesses in industries with high fraud rates, like fashion, electronics, travel, and ticketing.
• Key Features:
  • Machine Learning: Their core technology uses advanced algorithms to analyze vast amounts of data and adapt to evolving fraud patterns.
  • Chargeback Guarantee: They assume financial liability for chargebacks on approved transactions, offering retailers a form of financial security.
  • Faster Approvals: By minimizing manual reviews, they aim to improve the customer experience by approving more legitimate orders faster.
  • Global Coverage: They support numerous payment methods and currencies globally.
  • Integration: They offer API and plugin integrations with popular e-commerce platforms.
• Value Proposition: Riskified provides a compelling value proposition by reducing chargebacks, increasing revenue by approving more legitimate orders, improving operational efficiency, and enhancing customer satisfaction.

Revenue Information

• Private Company: Riskified is a publicly traded company on the NYSE under the ticker RSKD. As such, financial information is readily available in their SEC filings.
• Revenue Model: They charge a fee based on a percentage of the approved transaction volume they process for their clients. This incentivizes Riskified to approve legitimate orders to drive revenue.
• Revenue Growth: Riskified has generally experienced strong revenue growth. You can find their specific revenue figures in their quarterly and annual financial reports.

Alternatives to Riskified

Several companies offer fraud prevention solutions, with different features, pricing models, and target markets. Here are some prominent alternatives to Riskified:

• Signifyd: Another major player offering a chargeback guarantee and similar technology. Often seen as a direct competitor.
• Forter: Focuses on a wide range of fraud types across different industries. Utilizes machine learning and claims high levels of fraud prevention.
• Sift: Offers a broader suite of fraud prevention solutions, including account takeovers and payment fraud.
• Kount (now part of Equifax): A well-established fraud prevention platform with a broad range of tools and services.
• ClearSale: Specializes in international fraud prevention with a focus on high-risk markets.
• Bolt: A checkout experience company that also includes fraud protection in its offerings.
• In-house systems: Some large retailers may choose to develop and maintain their own fraud detection systems.
• Payment gateways with fraud tools: Companies like Stripe and PayPal also have built-in fraud detection features.

Choosing an Alternative: The best alternative depends on factors like the size of your business, your industry, your fraud risk profile, and your specific needs.

Pricing

• Not Publicly Available: Riskified s exact pricing isn t typically made public. They generally negotiate pricing based on factors like:
  • Transaction volume
  • Industry
  • Risk profile
  • Specific services needed
• Percentage-Based: Their pricing is typically percentage-based on the approved transaction volume (as mentioned previously)
• Custom Contracts: Expect to sign a contract that specifies fees, terms, and service level agreements.
• Potential Savings: The pricing should be evaluated in light of the expected cost savings from reduced chargebacks and increased revenue from higher approval rates.

Customer Care Details

• Dedicated Account Managers: Riskified typically assigns account managers to work closely with clients to provide ongoing support and help optimize their fraud prevention setup.
• Implementation Assistance: They offer support during the initial integration process with various platforms.
• Technical Support: Clients can access technical support via email, chat, or phone to resolve any issues related to their integration.
• Training and Resources: They often provide training and educational materials to help clients understand and utilize their system effectively.
• Service Level Agreements (SLAs): They typically have SLAs that outline their response time and level of service.
• Client Portal: Clients have access to a portal to monitor data, view reports, and manage their account.

Things to Consider When Evaluating Riskified (and Alternatives):

• Integration Complexity: How easily does the solution integrate with your existing systems?
• Accuracy: How accurate is their fraud detection in your specific industry?
• False Positive Rates: How often do they incorrectly decline legitimate orders?
• Reporting and Analytics: What insights and reports do they provide to help you monitor and improve performance?
• Customer Support: How responsive and helpful is their customer support team?
• Contract Terms: Carefully review the contract to understand the fees, SLAs, and liabilities.
• Proof of Concept: Consider requesting a pilot or proof of concept to test the solution before committing to a contract.

In Conclusion

Riskified is a leading fraud prevention solution that is particularly suitable for high-volume e-commerce businesses. However, carefully consider your specific needs and evaluate alternatives before making a decision. Always compare the cost, features, accuracy, and support offered by different vendors.

Do you have any more specific questions about Riskified or any particular aspects that you d like to delve deeper into?