Signifyd is updating its offering with a new solution aimed at protecting e-commerce companies from fraud.
The venture, which raised a $100m Series D round in 2018, has launched its new Commerce Protection Platform.
The new solution gives retailers so-called found money to help them tackle two obstacles: rapidly increasing costs for top-of-funnel customer acquisition and bottom-of-funnel fulfillment.
Designed in collaboration with customers like Samsung and Boardriders, the idea is that the platform will help merchants recapture lost revenue opportunities as platforms like Google, Facebook and Amazon drive up digital ad prices and customer expectations.
“The Commerce Protection Platform is built for retail in the 2020s,” said Raj Ramanand, CEO and co-founder of Signifyd. “The enterprise market has been looking for a complete solution that will not only automate the customer experience needs of today, but will also identify and capitalise on missed conversion potential in their checkout flows.”
Leveraging artificial intelligence, the platform automates online order flows, instantaneously sorts fraudulent orders from legitimate ones, triages abuse chargebacks stemming from customer disputes and future-proofs the enterprise against rapidly evolving payments compliance issues. It also includes a financial guarantee backing the platform’s decisions.
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